Answer:
a. Dr Inventory $10,000
Cr Accounts payable $10,000
b. Dr Accounts payable $10,000
Cr Cash $9,800
Cr Inventory $200
Explanation:
Preparation of the Journal entries Under a perpetual inventory system,
a. Dr Inventory $10,000
Cr Accounts payable $10,000
( To record purchase of merchandise)
b. Dr Accounts payable $10,000
Cr Cash $9,800
($10,000-$200)
Cr Inventory $200
(2%*$10,000)
( To record payment for merchandise)
Discount amount = Amount due x Discount percentage
Discount amount= 10,000 x 2/10
Discount amount= $200
Answer:
Results are below.
Explanation:
<u>First, we will determine the net income for tax purposes:</u>
Sales= 800,000
Expenses other than depreciation= (350,000)
Gross profit= 450,000
Depreciation= (200,000)
EBT= 250,000
Tax= (250,000*0.34)= (85,000)
Depreciation= 200,000
Net income= 365,000
<u>Now, for reporting purposes:</u>
Gross profit= 450,000
Depreciation= (130,000)
EBT= 320,000
Tax= (320,000*0.34)= (108,800)
Depreciation= 130,000
Net income= 341,200
Answer:
shell say to get your team together and lead if can do it do it, if you cant, don't
Explanation: you're the team leader you're supposed to be able to make decisions even the hard ones
Answer:
1. Deontology C. is the normative ethical theory that a moral act is based on whether the act itself is right or wrong under a series of rules, and not based on the consequences of the act.
2. Utilitarianism D. the best ethical choice produces the best result for the greatest number
3. Free market ethics A. goods and services are worth what people believe they are worth and are willing to pay for and businesses need only be concerned with making a profit for owners (shareholders)
4. Virtue ethics B. based on the moral character of the person rather than the act
Answer: A. $0
B. $500
C. $8,000
D. $0
Explanation:
A. $0.
The $25,000 is a cash gift from her parents which is a cash gift from relatives and so is not included in the AGI.
B. $500
The entire amount is included in her AGI as winnings from competitions are included in AGI calculations.
C. $8,000
Alimony payments are included in AGI calculations so the whole alimony figure is to be included.
D. $0
Cash inheritance is not to be included in AGI calculations for tax purposes so the entire figure of $100,000 should not be included.
