How the $5,645 tax bill proration will be reflected on the settlement statement if a 30-day month is: Debit seller $2,822.5; Credit buyer $2,822.5.
<h3 /><h3>Tax bill proration</h3>
Based on the information given the tax bill proration will be reflected on the settlement statement will be:
(January 1 to June 30) =180 days
Hence:
Debit seller $2,822.5
Credit buyer $2,822.5
[($5,645 ÷ 360) ×180 days]
Therefore how the $5,645 tax bill proration will be reflected on the settlement statement if a 30-day month is: Debit seller $2,822.5; Credit buyer $2,822.5.
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Answer:
$18
Explanation:
Since the manufacturer sold twice as many units of Q than P, that means it at least sold 1 unit of P and 2 units of Q.
to determine the arithmetic mean (average) revenue per unit:
total revenue = P + 2Q = $20 + (2 x $17) = $20 + $34 = $54
arithmetic mean (average price) = $54 / 3 = $18
Answer:
Units accounted for: 7,500
Explanation:
We are going to follow physical units so the method W/a or FIFO is not relevant for this step:
Beginning and transferred in are the input, fro mwere the units come from:
beginning WIP 4,500
transferred in 3,000
Units to account for: 7,500
While, ending WIP and transferred-out are were the untis are now:
Ending WIP 6,000
transferred-out 1,500
Units account for 7,500
Answer:
Statement B is correct
Explanation:
Provided Information that,
Company A has shorter Average Collection Period than Company B,
Average Collection Period refers to the period in which the cash is collected from debtors.
Thus in the given statements only statement B states that Company A is more efficient in collecting receivables from debtors, thus it is the correct statement.
Statement A is wrong as Company A has less Average Collection Period, thus it's credit sales percentage would be higher than Company B.
Statement C which states about generating revenue is not correct as the company might have cash sales.
Statement B is correct