Answer:
<u>journal entries to record revenues and gains:</u>
Dr Cash 193,000
Cr Sales revenue 193,000
Dr Cash 35,000
Cr Asset 30,000
Cr Gain on sale of asset 5,000
<u>journal entry to record COGS:</u>
Dr Cost of goods sold 108,900
Cr Merchandise inventory 108,900
<u>journal entries to record expenses:</u>
Dr Depreciation expense 7,500
Dr Vehicle expense 2,800
Dr Interest expense 15,600
Dr Pension expense 7,500
Cr Cash 50,600
Dr Other operating expenses 18,400
Cr Cash 18,400
<u>journal entries to record dividends (declaration and payment):</u>
Dr Retained earnings 13,800
Cr Dividends payable 13,800
Dr Dividends payable 13,800
Cr Cash 13,800
Answer:
In 1890, Alfred Marshall's Principles of Economics developed a supply-and-demand curve that is still used to demonstrate the point at which the market is in equilibrium. ... The prices of some goods can increase without reducing demand, which means their prices are inelastic.
Answer:
D) Todd should include the $500 in 2020 gross income in accordance with the tax benefit rule.
Explanation:
Since Todd is a cash basis taxpayer, he included the $1,500 insurance premium in his 2019 tax return. Cash basis taxpayer report revenues or expenses when the cash is received or paid, not when the service is provided.
Since he received a $500 refund in 2020, he should include it in his 2020 tax return. As a cash basis taxpayer, any money received is considered income.
Those who oppose corporate social responsibility believe that it is using investors' money in ways they did not intend. Thus the correct answer is B.
<h3>What is corporate social responsibility?</h3>
Corporate social responsibility is referred to as an initiative taken by an organization to protect environmental values and surroundings by eco-friendly and minimum risk strategy in business operations.
This activity focuses on minimum use of natural resources in the business operations and decisions making of the business.
These types of organizations practicing CSR will focus on strategies that do not create harm to the environment and encourage sustainable business practices to provide better experiences to stakeholders of the business.
Therefore, option B which is using investors' money in ways they did not intend is the appropriate answer.
Learn more about CSR, here:
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$30.00x85%=$25.50
Because 10%+5%=15% discount, so 100%-15%=85%
So discounted cost of oil change is $25.50. Hope this helps.
