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max2010maxim [7]
2 years ago
12

How do I quit my job as cashier already wrote resignation letter

Business
2 answers:
Marianna [84]2 years ago
6 0
Then your good job t
Fudgin [204]2 years ago
4 0
Dont walk up to ur boss n dont say nun n jus walk out dat mf yo
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James purchased a commercial property at a 7.5% cap rate. The previous owner agreed to finance the deal at 8%. Why may James ele
dlinn [17]

Answer:

James will lose money, since his earnings will be lower than the interest that he must pay.

Explanation:

The capitalization (cap) rate is a ratio calculated by dividing the net operating income over the property asset value.

For example, if James is purchasing the property at $100,000, his net earning will be $7,500 per year (cap rate of 7.5%), but he will have to $8,000 in interests for the property. The interests are higher than the earnings, therefore the leverage is negative.

7 0
3 years ago
Nutritional Foods reports merchandise inventory at the lower of the cost or market. Prior to releasing its financial statements
ELEN [110]

Answer:

1. Debit Cost of goods sold  $5,000

Credit Inventory account   $5,000

Being entries to write down merchandise inventory to its realizable amount.

2. Revised partial Income statement

                                         Amount

Sales revenue                 $121,000

Cost of goods sold        <u> ($54,000 )</u>

Gross Profit                    <u>  $67,000 </u>

Explanation:

According to IAS 2 inventories, Inventory is initially be recognized at the cost of purchase (which includes the cost of the item and other associated cost such as freight)

Subsequently, inventory would be measured at the lower of cost or net realizable value.

As such, whenever the cost is higher than the net realizable value, the cost of the inventory will be written down by

Since the current replacement cost of ending merchandise inventory is $16000 and the Cost is $21000.

Amount to be written down

= $21000 - $16000

= $5,000

To adjust for this,

Debit Cost of goods sold  $5,000

Credit Inventory account   $5,000

Total amount in cost of goods sold = $49,000 + $5,000

= $54,000

Revised partial Income statement

                                      Amount

Sales revenue                $121,000

Cost of goods sold          $54,000

Gross Profit                      $67,000

4 0
3 years ago
A market economy cannot produce a socially desirable outcome because individuals are motivated by their own selfish interests.
adoni [48]
B it false
we should all know that
7 0
3 years ago
This information relates to Marigold Real Estate Agency for the month of October, 2022. Oct. 1 Stockholders invested $41,000 in
gregori [183]

Answer:

Explanation:

Journal entries:

Oct 1

Dr Cash 41,000

Cr Common stock 41,000

Oct 2

No entry

Oct 3

Dr Equipment 4,400

Cr Accounts payable 4,400

Oct 6

Dr Accounts receivable 13,000

Cr Sales 13,000

Oct 10

Dr Cash 170

Cr Service revenue 170

Oct 27

Dr Accounts Payable 880

Cr Cash 880

Oct 30

Dr Salaries expense 2,500

Cr Cash 2,500

4 0
2 years ago
Read 2 more answers
An employee earns $7,500 in wages and has $1,800 in Federal Income Tax withheld and $318 in State Income tax withheld. In additi
kogti [31]

Answer:

Dr. Wages Account with $7,500 (employee Wages Payable)

Cr. Federal Income Tax Payable on Employee Wage with $1,800

Cr. State Income Tax Payable on Employee Wage with $318

Cr. FICA Medicare Payable with $108.75 (1.45% on Taxable wage of $7,500)

Cr. FICA Social Security Payable with $465 (6.2% on Taxable wage of $7,500)

Cr. Bank/Cash/Wages Payable Account with $4,808.25 (Net Wage Payable to Employee)

Explanation:

Dr. Wages Account with $7,500 (employee Wages Payable)

Cr. Federal Income Tax Payable on Employee Wage with $1,800

Cr. State Income Tax Payable on Employee Wage with $318

Cr. FICA Medicare Payable with $108.75 (1.45% on Taxable wage of $7,500)

Cr. FICA Social Security Payable with $465 (6.2% on Taxable wage of $7,500)

Cr. Bank/Cash/Wages Payable Account with $4,808.25 (Net Wage Payable to Employee)

3 0
2 years ago
Read 2 more answers
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