Answer:
Cost of Truck = $31,540
Explanation:
given data
cash price = $27,210
accident insurance = $1,570
sales taxes = $1,840
motor vehicle license = $670
painting and lettering = $2,490
to find out
cost of the truck
solution
as we know that Accidental insurance and the vehicle license are not include in cost of truck
because there are yearly costs
so that cost of the truck will be as
cost of the truck = cash price + sales taxes + painting and lettering ...............1
put here value we get
Cost of Truck = $27,210 + $1,840 + $2,490
Cost of Truck = $31,540
Answer:
D.
Explanation:
Firms will hire more labor when the marginal revenue product of labor is greater than the wage rate, and stop hiring as soon as the two values are equal.
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For a contract to be legally binding and enforceable, consideration must be exchanged. A legally enforceable contract can either be written or oral. However, depending on the nature of the transaction, some contracts might need to be written down to be enforceable. Hope this helps
Answer:
sales tax payable 1,200 debit
cash 1,200 credit
Explanation:
To record this entry we need to understand the sales tax is not an expense for the company as is charged into the invoice and paid by the customers.
The company is an intermediate agent between the customer and the government. The company's role is to collects the tax and pay to the government. We need to record the payment of 1,200 to the government thus, we write-off the sales tax payable and credit the cash give away to the IRS
