Answer:
Using the adjusted balances, give the closing entry for the current year.
Explanation:
1
Db Insurance expense 6000
Cr Prepaid expenses 6000
2
Db Wages payable 4000
Cr Cash 4000
3
Db Depreciation expense 9000
Cr Accumulate depreciation 9000
4
Db Income tax expense 7000
Cr Tax payable 7000
Answer:
He earns $296780 as a Sales Trainee and $377094 as a Sales Associate
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Explanation:
Given
Let x represents his sales as a sales trainee
Let x represents his sales as a sales associate
Total Sales: 
Total Commission: 
Required
Find x and y
Equations
--- (1)
--- (2)
Make y the subject of formula in (1)
Substitute this in (2)
Open Bracket
Collect Like Terms
Divide through by -0.03
Recall that
<em>Hence;</em>
<em>He earns $296780 as a Sales Trainee and $377094 as a Sales Associate</em>
Answer:
The Cost of Goods Sold will be understated by $6,900 and the Sales Revenue will be understated by $2,500.
Explanation:
The sale of goods on credit will affect the Cost of sales and the Sales Revenue. The Cost of Goods Sold will be understated by $6,900 and the Sales Revenue will be understated by $2,500.
Answer:
The correct option is spends $1000 on print advertising that brings in 10 prospects before 1 lease was signed, is more cost effective
Explanation:
Spend $1000 on print advertising that brings in 10 prospects before 1 lease was signed is more cost effective because a lesser amount was spent to get 1 lease signed, following this approach, $2000 will get 2 leases signed which is more cost effective than spending $3000 to get 2 leases signed.
