Answer:
debit advertising expense for 1,000, debit supplies inventory for 1,000, and credit accounts payable for 2,000
Explanation:
The correcting entry is
Advertising expense Dr$1,000
Supplies inventory Dr $1,000
To Accounts payable $2,000
(being the correct entry is recorded)
here the advertising expense and inventory is debited as it increased the expenses & assets and credited the account payable as it also increased the liabilities
Answer:
33%
Explanation:
By virtue of been having 10% interest in Trumpet Partnership, Jack has a 10% share out of 30 percent owned by Trumpet Partnership (0.10 * 30=3%).
Additionally, his own 30 percent is still pay of his direct and constructive ownership of BJT Corporation, thus making his total direct stand at 33%.
Answer:
Please find attached solution to the above question
Explanation:
Please find attached solution to the above - a and b
Regarding the error 6,
• The $830 gained increased to accounts payable, hence must be deducted from accounts payable.
• Again, debit $830 for recording the payment.
Answer:
We will expect to see the government spending more of the money than it is bring to the table/bringing in the money, and in this situation the national savings will be decreasing, and when they do lower, the investments/primary stores will also be decreasing. And if this happen the lowering investments leads to lower long-term economic growth.
Explanation
Definition:
Tax imposed by the government on the things which are harmful for the human health is termed as Sin Tax. For example, Tobacco products, drugs, cola drinks, gambling, fast food items etc.
Why it is mainly imposed:
It is imposed to increase the prices of the above given harmful products which consequently, might can be helpful in decreasing their consumption.
