Answer:
Accounts Receivable $8,820
To Sales Revenue $8,820
Explanation:
The journal entry to record the sales revenue is shown below:
Accounts receivable A/c Dr $8,820
To Sales revenue A/c $8,820
(Being merchandise sold on credit basis)
For recording this we debited the account receivable as it increased the assets and credited the sales revenue as it also increased the revenue
The computation of sales revenue is shown below:
= Sales revenue - discount
= $9,000 - $9,000 × 2%
= $9,000 - $180
= $8,820
This is the answer but the same is not provided in the given options
Answer:
4.7
Explanation:
The computation of the degree of operating leverage is presented below:
= Contribution margin ÷ Net income
= $59,690 ÷ $12,700
= 4.7
where,
Contribution margin = Sales - Variable costs
And, the net income would be
= Sales - Variable costs - Fixed costs
The net income is also known as earning before interest and taxes
Debit Accounts Receivable $5,000; credit Tile Sales $5,000
Answer:
$5,000
Explanation:
The computation of total amount of excess fair over book value amortization expense adjustments to be recognized by red is shown below:-
Excess of fair value over book value = Land fair value - Land book value
= $52,000 -$42,000
= -$10,000
Here land is not amortized
Excess of fair value over book value = Building fair value - Building book value
= $390,000 - $200,000
= $190,000
Excess fair value over book value amortization expense adjustments to be recognized by red = Excess of fair value over book value of building ÷ Number of Years
= $190,000 ÷ 10
= $19,000
Excess of fair value over book value = Equipment fair value - Equipment book value
= $280,000 - $350,000
= ($70,000)
Excess fair value over book value amortization expense adjustments to be recognized by red for equipment = Excess of fair value over book value of equipment ÷ Number of Years
= ($70,000) ÷ 5
= ($14,000)
Total amount of excess fair over book value amortization expense adjustments to be recognized by red
= $19,000 - $14,000
= $5,000
Answer:
it began in 1760. it started there because of the new inventions that were made like the cotton gin, electricity and other inventions. More and more countries got access to these inventions and they became more and more industrialized and urban.
