<span>The defendant seeks to offer into
evidence the fact that the mayor was convicted two years ago of taking a bribe
to award a city contract for solid waste disposal. Yes, this is a documentary evidence
and is admissible because the mayor is already proven convicted of corruption.</span>
Answer:
e. DEBIT to Accounts Receivable $44,000
Explanation:
The accrual journal entry to record the sale involves a debit to the accounts receivable account and a credit to sales revenue;
Income 44000
Costing 23000
e. DEBIT to Accounts Receivable $44,000
Answer:
22.5%
Explanation:
If Electric Autos had a 15% return on start-of-year assets, and its assets at the start of the year were $150 million, the company's total profit is given by:
If sales amounted to $100 million, the profit margin (M) is determined as:
Electric Autos had a profit margin of 22.5%
Answer:
<u>Total Current Liabilities $1,929,750</u>
Explanation:
The question is prepare the current liabilities section of Bon Nebo Cos. Balance Sheet as at March 31, 20Y9
Current Liability refers to the company's financial obligation to others or third parties that are due within a year. Current Liabilities usually include taxation for the year based on the net income, advances paid by people/customers for benefits they are to enjoy within the next one year. It could also include creditors if any and other accounts payable
For Bon Nebo Co. The Current Liabilities Section is as follows as at March 31, 20Y9
Particulars Amount
Federal Income Taxes Payable $336,000
($840,000 x 40%)
Add: Advances for Magazine Subscription $1,593,750
(25,000 x $85)
=2, 125,000 x(9/12)
(This is because by March 20Y9, only
three months would have been supplied
out of 12 months)
<u>Total Current Liabilities $1,929,750</u>
