All categories

2 years ago

In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.

Business

1 answer:

stealth61 [152]2 years ago

5 0

Answer:

1. Blossom Company Journal entry

April 10

Dr cash$35,175

Cr Sales $33,500

Cr Sales tax $1,675

2. Oriole Company Journal entry

April 15

Dr Cash $25,970

Cr sales $24,500

Cr Sales tax $1,470

Explanation:

1. Blossom Company Journal entry

April 10

Dr cash ($33,500+$1,675) $35,175

Cr Sales $33,500

Cr Sales tax $1,675

2. Oriole Company Journal entry

April 15

Dr Cash $25,970

Cr sales ($25,970/1.06) $24,500

Cr Sales tax $1,470

($25,970-$24,500)

You might be interested in

Suddeth Corporation has entered into a 6 year lease for a building it will use as a warehouse. The annual payment under the leas

ratelena [41]

Answer:

A) $12,528

Explanation:

We should consider the rent payment as an annuity. Because we are paying, it should be considered the present value of an annuity.

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 2,468

time 6

rate 0.05

$2468 \times \frac{1-(1+0.05)^{-6} }{0.05} = PV\\$

PV $12,526.8080

We are asked for the closet option, so we have to chose A) 12,528

6 0

2 years ago

To add a pie chart, first select the data to be charted and then tap or click the Insert Pie or Doughnut Chart button (INSERT ta

valina [46]

The given statement " To add a pie chart, first select the data to be charted and then tap or click the Insert Pie or Doughnut Chart button (INSERT tab | Charts group) " is TRUE

Explanation:

A pie chart is a circular mathematical diagram separated into slices that display numerical proportions. The length of each piece in a pie chart is proportional to the amount it represents.

In other words, each piece of the pie is relative to the size of the party in its entirety. The whole pie is 100% whole, while the pie "slices" represent portions of the whole.

You must have a list of both the category (description of your categories) and numerical variables to construct a pie chart.

Tables can be hard to draw by hand, in particular for tricky numbers. The entire pie is 360 degrees, making drawing 13.9% or 56% difficult. With the range of computer programs, it is not really important that you can create pie charts.

6 0

2 years ago

A description of the processes you use to ensure that results meet the specified quality standards is a _____.

gulaghasi [49]

Answer:

d. quality assurance plan

Quality assurance plan is meant to ensure that the final products are matching to required quality. There are four basic steps of the quality assurance process: Plan, Do, Check, and Act.

7 0

2 years ago

Read 2 more answers

The tax liability of a corporation with ordinary income of $105,000 is ________. Range of taxable income - Marginal rate $0 to $

zhannawk [14.2K]

Answer:

$24,199.02

Explanation:

corporation's ordinary income = $105,000

tax brackets taxable income tax rate taxed due

$0 - $50,000 $50,000 15% $7,500.00

$50,001 - $75,000 $24,999 25% $6,249.75‬

$75,001 - $100,000 $24,999 34% $8,499.66

$100,001 - $105,000 $4,999 39% $1,949.61

total taxes due $24,199.02

6 0

2 years ago

Which of the following are money market instruments? Check all that apply. Common stocks Treasury bills Certificates of deposit

Fittoniya [83]

Answer: No one of the options but <u>Commercial paper</u>

Explanation: Commercial paper is an unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts payable and inventories and meeting short-term liabilities. Maturities on commercial paper rarely range longer than 270 days.

8 0

2 years ago