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Mice21 [21]
2 years ago
5

Sales Transactions and T Accounts Using T accounts for Cash, Accounts Receivable, Sales Tax Payable, Sales, Sales Returns and Al

lowances, and Sales Discounts, enter the following sales transactions. 1. No sales tax. (a) Merchandise is sold for $320 cash. (b) Merchandise is sold on account for $385. (c) Payment is received for merchandise sold on account.
Business
1 answer:
MA_775_DIABLO [31]2 years ago
4 0

Answer:

Payment id received for merchanise sold on account

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In Macroland there is $10,000,000 in currency. The public holds half of the currency and banks hold the rest as reserves. If ban
kipiarov [429]

Answer:

$50,000,000; $55,000,000

Explanation:

In Macroland there is $10,000,000 in currency. The public holds half of the currency and banks hold the rest as reserves. If banks' desired reserve/deposit ratio is 10%, deposits in Macroland equal <u>$50,000,000 </u> and the money supply equals <u>$55,000,000</u>

3 0
2 years ago
Match each region of Virginia to its main source of income,
Svetach [21]

Answer:

Piedmont   ⇒ government jobs. The northern part of Virginia is loaded with federal government workers and federal agencies. Even though the Piedmont region is much larger, its main source of income comes from government jobs mainly located at the northern part (near Washington D.C.)

Appalachian Plateau  ⇒ coal mining. Coal is one of Virginia's most valuable natural resources and it is mined in the Appalachian Plateau region (west of the state).

Blue Ridge Mountain  ⇒ farming. The major economic activities in the Blue Ridge Mountain region of Virginia include farming, livestock, lumber and tourism.  

Coastal Plain  ⇒ tourism. The main sources of income include tourism, shipbuilding and military contractors.

Explanation:

Principal economic activities there include livestock raising, farming, tobacco growing, and lumber production. Commercial apple orchards are found in Virginia, Maryland, and Pennsylvania. The Blue Ridge is a major East Coast recreation area noted for its resorts and scenery. The Appalachian Trail winds atop the range.

5 0
2 years ago
Read 2 more answers
William and Charlotte Collins divorced in November of Year 1. William moved out and Charlotte remained in their house with their
musickatia [10]

Answer:

Charlotte has the priority to claim Autumn as her dependent even though William covered 70% of her living expenses during the year. In order for a parent to be able to claim a child as a dependent, he/she must live with the child for more than half the year. In this case, since William left the house, Charlotte has preference over claiming Autumn as her dependent (even though William lived with Autumn for 10 months). Also, a parent always has priority over other relatives including a grandparent.

7 0
3 years ago
Which refers to business practices that are deliberately misleading?
Ber [7]

Answer:

Fraud is the correct answer.

Explanation:

5 0
2 years ago
Read 2 more answers
Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships.Required:1. The
Ainat [17]

Answer and Explanation:

According to the scenario, the journal entries are of the given data are as follow:-

Journal Entry

1. Loss A/c              Dr.  $1,300,000

     To Contingent liability A/c       $1,300,000

(Being the likelihood of a payment occurring is probable is recorded)

For recording this we debited the loss and credited the contingent liability as it increased the loss and liability

2. Loss A/c       Dr.  $1,100,000

     To Contingent liability A/c       $1,100,000

(Being the likelihood of a payment occurring is probable is recorded)

For recording this we debited the loss and credited the contingent liability as it increased the loss and liability

3. The likelihood of payment occurring is reasonably possible instead of probable, so we don’t have a need to record this entry. But we describe this in financial statements in the foot note

No Journal Entry Needed

4. The likelihood of payment occurring is remote so disclosure is not needed.

No Journal Entry Needed

5 0
3 years ago
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