Answer:
Follows are the solution to this question:
Explanation:
Formula:
Answer:
$245,000
Explanation:
The cash outflow in respect of the Prepaid rent of Howard Inc. for the year 2021 shall be determined using the following mentioned equation:
Cash outflow during the 2021=Rent expense for the 2021+end balance of prepaid rent for 2021-ending balance of prepaid rent at 2020
Cash outflow during the 2021=$240,000+$80,000-$75,000
=$245,000
Answer:
This is called:
Trade Restriction
Explanation:
Outsourcing to foreign markets can cripple domestic industries, increase local unemployment, and impose trade imbalance. To check excessive outsourcing, the federal government imposes tariffs. Such a trade restriction is considered necessary within the domestic economy. But it may be regarded as a restriction of free trade within the international community.
Answer:
The journal entry for the cash receipt and on that the sales tax is charged is as follows:
Explanation:
Cash A/c................................Dr $8,640
To Sales A/c.............................Cr $8,000
To Sales Tax Payable A/c.....Cr $ 640
Working Note:
Sales Tax Payable = Amount of cash sales × Rate of Sales Tax
= $8,000 × 8%
= $640
So, the total of cash received will be = Sales Amount + Amount of sales tax payable
= $8,000 + $640
= $8,640
A person who has a temporary license have shorter days of having to be permitted to drive than of who have an actual license. Those who has temporary license are only permitted to drive for sixty days and when converted to months, they are permitted to drive for two months.
