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2 years ago

A cash register tape shows cash sales of $5,000 and sales taxes of $300. the journal entry to record this information is

Business

1 answer:

dybincka [34]2 years ago

7 0

Answer:

The journal entry for the cash receipt and on that the sales tax is charged is as follows:

Explanation:

Cash A/c.................................................Dr $5,300

To Sales RevenueA/c.............................Cr $5,000

To Sales Tax Payable A/c......................Cr $ 300

Working Note:

So, the total of cash received will be = Sales Amount + Amount of sales tax payable

= $5,000 + $300

= $5,300

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Cainas Cookies purchased a commercial oven on 1/1/14 for a total cost of 35,000. Estimated useful life is 6 years, with a salvag

Anit [1.1K]

Answer:

Units of production = $4250

Straight line depreciation expense = $5,000

Double declining method = $7.777

Explanation:

The depreciation method to he used wasn't stated, so I calculated the depreciation expense using 3 depreciation methods

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

(35,000 - 5,000) / 6 = $5,000

The depreciation expense each year would be $5000

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)

2 / 6 = 0.3333

Deprecation expense in year 1 = 0.3333 x $35,000 = $11,666.67

Book value = $35,000 - $11,666.67 = $23,333.33

Depreciation expense in year 2 = $23,333.33 × 0.3333 = $7.777

Depreciation expense using units of production = ( hours used in year / total estimated hours of the machine) x (Cost of asset - Salvage value)

(1,700 / 12,000) x (35,000 - 5,000) = $4250

I hope my answer helps you

3 0

2 years ago

Clive's manager appointed him to lead the marketing group because Clive emerged as a natural team leader in a previous assignmen

Bezzdna [24]

Answer:

The correct answer is: formal .

Explanation:

The informal leader is defined as the one who influences other members of a work group or team; In most cases, they are not recognized by the formal power structure, nor do they receive extra compensation or benefit, nor do they have formal interference to fire or hire staff. They are individuals who, without the formal title or authority, act as defenders of the organization and raise their contribution and that of others through influence, knowledge, expertise and relationship building; acting generally? Below the water? as facilitators and motivators.

Within the group they play a decisive role in its effectiveness, due to its influence on the beliefs and expectations of its members, by setting goals and feedback. In addition, the informal leader maintains a reliable reputation as a source of reliable information, since it is the same group members who give them authority.

They use their influence to shape strategies, establish basic norms and values, allocate resources, coordinate intergroup efforts and negotiate with individuals outside the group. They learn to unite different groups of people with common interests or networks, while fostering and cultivating relationships within and outside the group. Not only do they create networks, but they become catalysts for others to form new communities throughout the organization.

5 0

2 years ago

Victor works for a company that highly values performance-oriented traits, such as achieving a certain level of sales and increa

Katen [24]

Answer:

e. masculinity/femininity

Explanation:

This refers to the allocation of positions between males and females. Within patriarchal cultures, the responsibilities of females and males differ very little and men are supposed to act forthrightly. Showing your performance, being quick and strong, is seen as a good attribute.In this aspect, masculinity is described as "a social preference for success, bravery, confidence, and material benefit for achievement." Its counterpart stands for "inclination to collaboration, chastity, care for the vulnerable and living standards."

8 0

2 years ago

Tuscan Inc. had a retained earnings balance of $60,000 at December 31, 2018. During the year, Tuscan had the following selected

GuDViN [60]

Answer:

$139,000

Explanation:

The computation of the retained earnings balance at December 31, 2019 is shown below:

= Beginning retained earning balance + depreciation charged yearly + net income - cash dividend paid

= $60,000 + $12,000 + $100,000 - $33,000

= $139,000

The depreciation in yearly is

= $1,000 × 12 months

= $12,000

Basically we applied the above formula to determine the ending balance

4 0

2 years ago

The Distribution Point plans to save $2,000 a month for the next 3 years for future emergencies. The interest rate is 4.5 percen

ch4aika [34]

Answer:

A deposit of 36,922.02 dollars will be equivalent to the series of emergencies deposits of 2,000 starting today.

Explanation:

we need to know the future value of the emergencies deposit and then, calculate which lump sum can generate the same amount. As the deposit are done at the beginning It will be an annuity-due:

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