Answer:
$850,000
Explanation:
The computation of Amount of income should Torrey realize from the lease transaction is shown below:-
Amount of income should Torrey realize from the lease transaction = Sale price - Cost
= $3,850,000 - $3,000,000
= $850,000
Therefore for computing the amount of income should Torrey realize from the lease transaction we simply deduct the cost from sales price.
Answer:
C) credit Sales Tax Payable for $21
Explanation:
Based on the information given In the same transaction, they must also CREDIT SALES TAX PAYABLE FOR $21 Calculated as:
First step is to calculate the sales tax element
Sales tax element = $371*6/106
Sales tax element= $21
Now let calculate what the Price exclusive of sales tax would be
Price exclusive of sales tax=$371-$21
Price exclusive of sales tax= $350
The correct journal entry should be:
Dr Cash $371
Cr Sales revenue $350
($371-$21)
Cr Sales tax payable $21
Answer:
<em>The answer is 17.01 minutes</em>
Explanation:
<em>Given that:</em>
<em>The learning rate (r) = 85% = 0.85</em>
<em> T₃₂= 23.52 minutes</em>
<em>By applying the learning curve formula</em>
<em>Thus,</em>
<em>Tₙ = T₁ nᵇ</em>
<em>Where b represent ln(r)/ln2</em>
<em>b = ln( 0.85)/ln2 = -0.2344</em>
<em>23.55 = T₁ * (32)^-0.2344</em>
<em>T₁ = 23.55 * (32)^0.2344</em>
<em>Now,</em>
<em>T₁₂₈ = T₁ (128)^ - 0.2344</em>
<em>= 23.55 * (32)^0.2344 * (128)^ - 0.2344</em>
<em>=17.01 minutes</em>
The date the board of directors votes to declare and pay a cash dividend is called the date of declaration.
<h3>What does the declaration date mean?</h3>
A declaration date refers the date on which the board of directors of a company announces the next date of dividend payment. The board of directors of a company announces a cash dividend on a declaration date, which involve paying a certain amount of money per common share.
A declaration statement is issued that mainy includes the details such as the size of the dividend, the record date and its payment date.
Basically, the date on which the directors vote to declare and pay a dividend is called the declaration date.
Learn more about declaration date here:-
brainly.com/question/23156395
#SPJ4
Answer:
D. Operating activities.
Explanation:
A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.
Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.
Hence, activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified as operating activities. All the net income or cash from all operational business activities of a company is recorded as operating activities.
