Answer:
The journal entries are shown below:
Explanation:
The journal entries are as follows
On August 4
Account Receivable $610
To Sales Revenue $610
(Being the goods sold on credit basis is recorded)
On August 7
Sales Return and Allowances $60
To Accounts Receivable $60
(Being the sales allowance is recorded)
On August 12
Sales Discount $11
Cash $539
To Accounts Receivable $550
(Being the amount paid is recorded after considering the 2% discount
The Management Discussion and Analysis section of the annual report can best be described as <u>c. Biased but informative</u>.
<u>Explanation</u>:
Biasing is an unfair activity in which the person favors one side and opposes the other. Biased people always exhibit prejudiced thinking.
These kinds of people think only from their side and they don’t think <u>“out of the box”</u>.
The management will be always biased when discussing about the annual report. The report provided by them in the discussion will be informative. But still it will be favored for someone and opposing another person.
Answer:
$100
Explanation:
Since the standard deduction for 2017 was $6,350, and Graciela only reported $100 more, she needs to report only $100 of the state tax refund. State tax refunds are not considered income unless you itemize your deductions, and in case you did, like Graciela, you must only report the amount that exceeds the standard deduction.
Answer:
$3500
Explanation:
The amount that will be recorded under the accrual-basis accounting will be $3500. accrual - basis accounting is a type of accounting method that is used to record both expenses incurred and income earned by a company.
The accrual-basis accounting tends to match revenue earned and debts incurred by a company hence its advantage is that a company will easily know how profitable they are. in Accrual- basis accounting foreseen/estimated debts like the remaining balance from the $6500 debt which is $3500 is recorded under the accrual-basis account.
Answer:
a. increased employment in the domestic export sector
Explanation:
The primary gain from the international trade is more good than , by the attainment through the domestic production alone .
When the countries trade specialization occurs , the countries in which they have comparative advantage produce the good more efficiently . Hence , the resources of other country can be used for the production of some other goods . So people benefit from trade as they get more variety of goods at a lower price and they are able to consume outside their PPF .
