Check the picture below.
now, since we know what "f" is, let us use the CNT triangle with the small COR one.
I guess ur just gunna have to bear with whatever until we have a multiple choice answer selection.
Answer:
Step-by-step explanation:
You'll divide the tip by the sub-total and multiply by 100
7/52.99 *(100) =13.21%
Answer:
A. No, Should not in any way write the check today and neither record the expense or even write the check tomorrow.
B. The company will be affected if the check
was cut today and the expense was not recorded, which means that the net income of the current fiscal year will be increased by the amount of $2,000 while the net income of the next year will be reduced by the amount of $2,000 and this tend to happens due to some error.
Step-by-step explanation:
A. Based on accounting principle every debit entry must have a corresponding credit entry which means that in a situation where a check is been cut today for miscellaneous expense and for supplies the Miscellaneous expense account should be debited while the bank account should as well be credited based on the double entry principle because if not so the current year net income will wrongly shows and be higher with the amount of $2,000.
B. In a situation where the check was cut today and expense was recorded the following day or tomorrow it means that the current year financial statement net income will be increased by the amount of $2,000 while the amount shown in the balance sheet will decreased by the amount of $2,000.
Therefore I can issue a check today and as well record the expense the same day in which the check was issued.
