Answer:
1.
Sept - 30
DR Cash <u>$6,300</u>
CR Sales <u>$6,000</u>
CR Sales Tax <u>$300</u>
(<em>To record Cash sales and Tax Payable)</em>
<u>Working</u>
Sales Tax = 6,000 * 5%
= <em>$300</em>
2.
Oct - 15
DR Sales Tax Payable <u>$300</u>
CR Cash <u>$300</u>
(<em>To record remittance of Sales Tax to the State Government</em>)
3.
Sept - 30
DR Cost of Goods Sold <u>$3,900</u>
CR Merchandise Inventory <u>$3,900</u>
(<em>To transfer inventory to Cost of Goods sold) </em>
4. <em>Repeat question for question 2.</em>
5. <em>Repeat question for question 1.</em>
Answer: c. peer-to-peer (P2P) networking
Explanation:
Peer-to-Peer (P2P) networking is a method of connecting computers to each other and sharing resources without having to use a central network server.
It can be a connection between two computers close to each other, a bunch of computers connected by USB or wired connections for instance or even computers around the world via the internet.
The Employees at Eco Engineering are therefore using P2P as they are sharing resources without having to go through a network server.
Answer:
The adjusting entry that should be recorded at the end of the accounting period:
Debit Unearned revenue $500
Credit Revenue $500
Explanation:
Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.
Bobcat Boards and Skis received $800 in advance for future services to be performed. At the end of the month, $300 worth of services were still owed to the customer.
The value of services were performed = $800 - $300 = $500.
The adjusting entry:
Debit Unearned revenue $500
Credit Revenue $500
Answer:
The sentence uses an active voice
In this case active voice is not appropriate
Explanation:
Mode of expression can be passive or active.
Passive voice is one that emphasises the subject or person that is receiving an action.
An active voice describes a person that is performing an action.
In this scenario Jake accidentally input $560 instead of $650 on one of the invoices. The writer hasn't contacted you about the error yet.
So the email sent should just focus on what has happened to the writer and also to proffer a solution to the problem.
Since the writer did not complain or request for information on who made the mistake, stating that it was Jake that made the error is inappropriate.
A better statement would have been - An error was made on your invoice where the figure was inputted as $560 instead of $650. This however has been rectified and the invoice forwarded to you.
(800x20)/100 = 160 160 + 800= 960, so yes they will help you bring you within your budget