Answer:
Sep 11
Dr Cash 590.00
Cr Sales 590.00
Dec 31
Dr Warranty expense 59.00
Cr Estimated warranty liability 59.00
July 24
Dr Estimated warranty liability 41.00
Cr Repair parts inventory 41.00
Explanation:
Home Store Journal entry
Sep 11
Dr Cash 590.00
Cr Sales 590.00
Dec 31
Dr Warranty expense (590*10%) 59.00
Cr Estimated warranty liability 59.00
July 24
Dr Estimated warranty liability 41.00
Cr Repair parts inventory 41.00
Definition: the skill and risk taking ability of the person who brings the other resources or factors of production together to produce a good or service e.g. the owner of a business. These people are called entrepreneurs
Opportunities of an entrepreneur:
• involves the sale or lease of any product, service, equipment that will enable the purchaser-licensee to begin a business.
• invest in (multiple) businesses
•quality content
• foreign markets
•crowdfunding
Answer:
cannot be provided to one person without making it available to others as well.
Explanation:
A public good is a good that is non excludable and non rivalrous. It cannot be provided to one person without making it available to others as well. If one person is using it, it does not stop other people from using it also. An example of a public good is roads.
Public goods contrasts with club goods and private goods
A club good is a type of public good. It is excludable but non-rivalrous. For example paid streaming services are an example of a club good. Those who do not subscribe are excluded from using the service. But all subscribers have equal assess to the service
A private good is a good that is excludable and rivalrous.e.g. a privately owned car
Hi there! The answer is 7%
The price of the book is $ 22.
Santino bought it for $ 23.54.
Therefore, the amount of tax is $ 1.54
Now we can find the sales tax rate by using the following formula:
Filling in gives:
Answer:
The correct option is C.
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
Explanation:
As brick company has sign a $300,000 note which consist 7% interest rate and the duration of note is 9 month on January 1
The question has asked the journal entry on January 1 date.
So, the journal entry is
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
The interest part should be ignored because in the question they asked the journal entry of January 1 not in the end of the month. According to the date of asking the journal entry, the amount is to be calculated. Thus, interest should not be considered.
Hence, the correct option is C.
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
