Yes it is possible to posses elements of more than 1.
Answer: D. debit to Payroll Tax Expense of $26,950.
Explanation:
We should note that the payroll tax expense will consist of the federal unemployment tax, the state unemployment tax and the FICA taxes. This will then be:
= 3500 + 1750 + 21700
= 26950
Therefore, the journal entry to record the monthly Payroll Tax Expense would include debit to Payroll Tax Expense of $26,950.
Answer:
a) A discount retailer
Explanation:
The formula to determine the cash conversion cycle is shown below:
Cash Conversion Cycle = days inventory outstanding + days sales outstanding - days payables outstanding.
So as per the given situation, the first option i.e. discount retailer should have the negative cash conversion cycle as in other options it created the positive impact
So the option a is correct
Demand supply and market equilibrium will have many changes due to change in the quantity of a supplied product.
Answer and Explanation:
The journal entries are as follows:
1. Petty cash A/c Dr $150
To Cash A/c $150
(Being the establishment of petty cash is recorded)
2.
Entertainment expenses A/c Dr $70
Postage expense A/c Dr $30
Printing A/c Dr $22
To Petty cash A/c $122
(Being the reimbursement of petty cash fund is recorded)
