1. Dr Merchandise inventory 25100
Cr Accounts payable 25100
(To record purchase of inventory on account)
2. Dr Merchandise inventory 530
Cr Cash 530
( To record freight cost )
3. No entry
4. Dr Accounts payable 3600
Cr Merchandise inventory 3600
( To record purchase return)
5. Dr Accounts payable ( 25100-3600) 21500
Cr Cash 21500
(To record paid the amount due).
Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $30,000
Accumulated Depreciation - Equipment A/c $12,494
To Equipment A/c $40,606
To Gain on Disposal of Equipment $1,888
(Being sale of machinery is recorded and the remaining balance is credited to the Gain on Disposal of Machinery A/c)
The computation is shown below:
= $30,000 + $12,494 - $40,606
= $1,888
Answer:
a. of widespread entrepreneurship.
Explanation:
According to the Institute for Management Development, a business education school that is situated in Lausanne, Switzerland. In its annual rankings on the performance of 63 economies across the globe. In 2018 rated the United States of America as the topmost economy in competitiveness. Based on various data gathered and surveyed, the education school cited "widespread entrepreneurship" as the major reason behind it.
