Answer:
Explanation:
The journal entries are shown below:
a. Cash A/c Dr $15,000
To Games revenue A/c $15,000
(Being cash collected)
b. Cash A/c Dr $3,000
Accounts receivable A/c Dr $5,000
To Sales revenue $8,000
(Being cash received for selling of equipment)
c. Cash A/c Dr $4,000
To Account receivable $4,000
(Being cash received for merchandise sold by the company)
d. Cash A/c Dr $2,500
To Unearned revenue A/c $2,500
(Being deposit received for the upcoming fall season)
The correct sentence is given below:
The state government offered Mike $3000,000 for his family's property, which they plan to use for building a new development. THE FIFTH AMENDMENT allows the state government to take the property as long as it is used for NON PROFIT PURPOSES. Mike can still dispute the government's offer if the compensation IS LESS THAN THE FAIR MARKET VALUE OF THE LAND.
Answer:
$42
Explanation:
FUTA is calculated on taxable wages that fall under $7000 in the quarter. Income above the $7000 limit are not taxed
FUTA rate = 0.6%
Quarterly salary $38,400 $29,600 $16500 $8,900
Basis for FUTA $7000 $7000 $7000 $7000
FUTA $42 $42 $42 $3
First deposit =$42
Answer:
a. Determine the equation for computing Gustin's profit per seminar:
Profit = (Number of people attend the seminar * 50) – 3,500
b. What type of random variable is the number of new accounts opened:
It is a binomial random variable
Explanation:
a.
We have the profit per seminar is equals to:
Profit = Total commission - Total cost of the seminar = Number of attendee * Probability one attendee will opened the account * Commission fee per one new account - 3,500 = Number of attendee * 0.01 * 5,000 - 3,500 = (Number of people attend the seminar * 50) – 3,500.
So, the right equation is : Profit = (Number of people attend the seminar * 50) – 3,500
b.
It is a binomial radom variable because: a account opened/closed is independent from another account opend/closed; one attendee has two possible outcome, either opened or closed.
