Answer:
Paid $436 to the state sales tax department for taxes collected
Answer: D) It increases liabilities and decreases stockholders' equity by $1.2 million each.
Explanation:
Even though the company has not paid for the advertisement, the expense has already been incurred and by the Accrual principle of accounting it needs to be recorded.
It will therefore be recorded as an expense which will reduce the Income for the year which is a Stockholder equity account so therefore it will reduce the Stockholder account by $1.2 million.
Because the company has not yet paid for the advert, the amount have to be recorded as a liability to the company so liabilities will increase by $1.2 million.
Answer: 0.59 ± 0.081 = (0.671, 0.509)
Explanation:
The sample proportion, p = 118/200 = 0.59
The test statistic at 98% confidence interval is given by :
p + z*Sqrt(p(1-p)/n) ; p - z*Sqrt(p(1-p)/n)
z at 98% C.I. is 2.33
Therefore, 0.59 + 2.33 * sqrt(0.59*(1-0.59)/200) and 0.59 + 2.33 * sqrt(0.59*
(1-0.59)/200)
=0.59 + 0.081 and 0.59 - 0.081
=0.671, 0.509
Answer:
The balance should Windsor report as its "Cash and cash equivalents" balance at April 30, 2017 is $19,410
Explanation:
The computation of the "Cash and cash equivalents" balance at April 30, 2017 is shown below:
= Currency amount + U.S treasury bill + check received in April month + checking account + saving account
= $70 + $11,100 + $300 + $2,730 + $5,210
= $19,410
The other given transactions would not be included because there is no outflow and inflow of cash for the April month. Hence, ignored it
Answer:
Naked Title
Explanation:
The naked title entitles in the title holder to enforce trust to comply with the clauses of the agreement because this right is given to the trustee. Such titles does not possesses any sort of rights of the ownership of asset and its use. So the only purpose includes the tax benefits and the enforcement of the compliance with the clauses of agreements.
