Answer:
The Journal entries are as follows:
(i) Sales revenue A/c Dr. $900
To Cash $900
(To record the correction in sales revenue)
(ii) Merchandise Inventory A/c Dr. $200
To Cost of Goods sold $200
(To record the merchandise returned)
Note:
(1) At the time of sale, the cash would have been debited with the amount of $900 and the sales revenue would have been credited with the amount of $900. Now, the cash of $900 should be credited as it was debited earlier.
(2) The inventory account also credited at the time sale, so it should be debited and the cost of goods sold debited at the time of original sale, so it need to be credited.
Answer:
The payment and the Deposit
Explanation:
The check register is adjusted using the item: payment and the Deposit and from the point of view of the bank statement the item is the withdrawal and deposit.
The real wage paid to the worker is 4 hamburgers per hour.
<h3>What is Wage?</h3>
- A wage is the sum of money that an employer pays an employee for work that was completed within a certain time frame.
- The minimum wage, prevailing rate, annual bonuses, and remunerative rewards like prizes and tip payments are a few examples of wage payments.
- It is broken down into two parts: a direct cost made up mostly of gross pay plus various benefits; and an indirect cost made up primarily of traditional and legal employer contributions and other fees.
- Regular and supplemental pay can be divided into two groups.
- The number of hours worked multiplied by the employee's hourly wage can be used to determine gross wages for hourly workers.
Learn more about wage here:
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Answer:
<em>From the example given,the 4 answer s to the question consist of both the demand and supply side, demand side, supply side.</em>
<em>It is explained better in the explanation box below.</em>
Explanation:
<em>Solution to the question</em>
<em> </em><em>Categories</em><em> </em><em>Demand side</em><em> </em><em> Supply side </em><em> </em><em>Both</em>
<em>(1)Increasing spending on ‘Shovel ready”’ projects is on </em><em>Demand Side</em>
(2)Lowering income tax rates at all income level is Both
<em>(3)Research grant for a corporation developing new technologies is on </em><em>Supply side</em>
(4)Stimulus packages for firms that are too big to fail is on Demand Side
(5) Government funded scholarship for college students: is on Supply Side