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Ad libitum [116K]
3 years ago
12

The following selected transactions apply to Book Yard Store for November and December, Year 1. November was the first month of

operations. Sales tax is collected at the time of sale but is not paid to the state sales tax agency until the following month.
a. Cash Sales for Nov Year 1 were $100,000 plus sales tax of 9%.
b. Book Yard the Nov sales tax to the state agency on Dec 7, Year 1.
c. Cash Sales for Dec Year 1 were $80,000 plus sales tax of 9%.
Business
1 answer:
olga55 [171]3 years ago
6 0

Answer:

The question requires that you show the effect of the previous transactions on a statements model. Since there is not enough room here, I prepared the attached excel spreadsheet.

Download pdf
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1 year ago
If a department that applies process costing starts the reporting period with 40,000 physical units that were 80% complete with
andriy [413]

Answer:

True

Explanation:

<em>Equivalent units are notional whole units which represent incomplete work and are used to apportion cost between work progress and completed work. These units are determined as follows: </em>

Equivalent units = Degree of work done(%) × units of inventory

Equivalent units

<em>Direct material:</em>

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Equivalent of work to be added = 20% × 40,000 = 8,000

<em>Labour</em>

Balance of work = 100-50= 50%

Equivalent of work to be added =50% × 40,000 = 20,000 units

                                    <em>Equivalent of work to be added(units)</em>

Material                               8000                                  

Labour                               20,000

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3 years ago
A firm spends a great deal of money in advertising to inform consumers of the brand name of its mushrooms. Should consumers conc
djyliett [7]

Answer: B. Yes. Branding allows the mushrooms to be easily identified in the future. ​ Thus, if they were of inferior​ quality, the company would lose customers and go out of business over time.

Explanation:

Branding is a way of making sure that your product is easily identifiable over other products.

When a company brands it's goods, they are trying to create Brand Awareness and this usually happens when a company plans to stay in a business for a while and indeed with the way the Firm is spending a lot of money on Advertising, one can surmise that they do indeed plan to stay in the business because they have spent a lot.

It would therefore make little to no sense on their part to spend such huge amounts of money to build their brand if their products will be of low quality. The mushrooms have to be of high quality so that people may associate their brand with High Quality.

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3 years ago
The activity that uses the greatest share of u.s. household water is
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<span>Flushing the toilet in your home increases and produces the greatest share of used water in U.S. households. Since flushing your toilet is a natural, necessary  use of water people often forget how much water is actually being used. Each time you flush the toilet and everyone in your home does, you are literally flushing water away. </span>

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4 years ago
Should a business email contain a salutation?
harkovskaia [24]

Answer:

A business email is meant in a professional way. It can be sought out as multiple different approaches, one of them, in this case, can include a friendly and welcoming business approach, including a salutation. All in all, it is up to the writer, there is no fully correct answer. Hope this helps :)

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2 years ago
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