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Following are Nintendo's revenue and expense accounts for a recent calendar year.Net sales ¥ 1,014,345 Cost of sales 626,379 Adv

elena-14-01-66 [18.8K]

Answer: These transactions can be journalized as follows :-

Explanation: Since the entries are closing entries these would be recorded at year end :-

Dec 31. Sales a/c Dr ¥ 1,014,345

To income a/c ¥ 1,014,345

(Being revenue account closed)

Dec 31. Income a/c Dr ¥ 936,724

To cost of sales a/c ¥626,379

To advertising expense a/c ¥ 96,359

To other expense a/c ¥213,986

(Being expenses account closed)

Dec 31. Income a/c Dr ¥77,621

To retained earnings ¥77,621

(Being excess income transferred)

4 0

2 years ago

Dextra Computing sells merchandise for $15,000 cash on September 30 (cost of merchandise is $12,000). The sales tax law requires

Nitella [24]

Answer and Explanation:

The journal entries are shown below:

1. On Sep 30

Cash $15750

To Sales $15,000

To Sales taxes payable ($15000 ×5%) $750

(Being the cash receipts is recorded)

For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it increased the revenue and liabilities

2 On Sep 30

Cost of goods sold $12,000

To Merchandise inventory $12,000

(Being the cost of goods sold is recorded)

For recording this we debited the cost of goods sold as it increased the expenses and credited the merchandise inventory as it reduced the assets

3 On Oct 15

Sales taxes payable $750

To Cash $750

(Being cash paid is recorded)

For recording this we debited the sales tax payable as it reduced the liabilities and credited the cash as it decreased the assets

5 0

3 years ago

There is a great deal of behavior that falls into a gray zone that can be difficult to analyze, however outright bribery is clea

nadya68 [22]

C. Unethical and Illegal

Bribery is offering something such as money or power to do something unethical.

8 0

3 years ago

Read 2 more answers

How did the conflicts between labor unions and business capital evolve during the gilded age? be sure to address strikes, the ev

slavikrds [6]

The industry's progress was confronted with a tough attitude of trade unions which had taken strength after the war.
The strategy adopted was the struggle for wage increases and the conservation of a monopoly power, which in many cases affected the introduction of technical improvements.
At that time, international sectoral trade unions and multinational corporations negotiate international framework agreements that allowed for Labour advancement.
It should also be noted that from the creation of the International Workers Association (IWA), the First World Trade union centre of the working class, the right to strike is recognised as one of the fundamental rights of the individual.Since then, representatives of workers from different countries jointly deal with the social problems that concerned them.

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3 years ago

(tco 7) which access control method is characterized by the information owner being responsible for assigning privileges to appr

Tems11 [23]

<span>Web applications need access controls to allow users (with varying privileges) to use the application.They also need administrators to manage the applications access control rules and the granting of permissions or entitlements to users and other entities. Various access control design methodologies are available. To choose the most appropriate one, a risk assessment needs to be performed to identify threats and vulnerabilities specific to your application, so that the proper access control methodology is appropriate for your application.</span>

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3 years ago