Cash will be debited and sales will be credited by $6,120 and cost of good sold with be debited and inventory will be credited by $3,540.
A journal entry is the act of maintaining or producing records of any economic or the non-economic transaction. An accounting journal, which shows a company's debit and credit balances, records transactions. The journal entry may have many records, each of which is either a debit or a credit.
The journal entry to record days cash sales would be as given below:
Cash (Dr) $6,120
To sales $6120
(Being cash sales of $6,120)
Cost of good sold (Dr) $3,540
To inventory $3,540.
(Being cost of cost of good sold)
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Answer:
a. $39,000
b. $85,000
Explanation:
The computations are shown below:
a. Tax on real property would be
= Valued of real property × tax rate
= $1,300,000 × 3%
= $39,000
b. Tax on real property would be
= Property's assessed value up × tax rate + difference of property value × increased tax rate
= $2,000,000 × 3% + $2,500,000 × 1%
= $60,000 + $25,000
= $85,000
Answer:
D) 3 years' worth of dividends will be paid to preferred shareholders prior to paying anything to common shareholders.
Explanation:
Shareholders are the individuals or institutions that hold the stock of a company making the owners of the business. Shareholders can either be common shareholders or preferred shareholders. Common shareholders are more prevalent and have voting rights in matters concerning the company.
Preferred shareholders hold preferred stock. They are rare and have no voting rights in the way the organization is managed. Preferred shareholders are entitled to a fixed amount of dividend every year. Dividends to preferred shareholders have to be paid first before common shareholders are paid out. Usually, common stockholders will be last to paid last in the event of dividends payouts or in times of liquidation.
Answer:
False
Explanation:
The decision-making process is a complex process that requires the user to go through seven in-depth steps before coming to a conclusion. This would be used in a business setting by an employee such as a CEO before making important decisions such as cutting a product line or adding a new department. Deciding what to wear each day is a decision, but does not require the in-depth thought process and research that is included in the decision-making process.
Answer:
Social media is the fastest growing trend in the history of the world. This sector
has grown faster than the Internet itself. Within the first ten years of being publicly
available, the Internet managed to gather roughly 1 billion users.
