a company receives $264, of which $24 is for sales tax. the journal entry to record the sale would include a
Answers
A business gets $264, of which $24 goes toward sales tax. A $24 credit to Sales Taxes Payable would be included in the journal entry to document the sale.
What are some of the popular journal types?Buy, purchase returns, cash receipts, cash disbursements, sales, sales returns, and general are the seven main categories of journals.
What distinguishes a journal from a ledger?Transactions are recorded in a supplementary book of accounts called the journal. A ledger is a main book of accounts used to organize the transactions entered in a journal. On the day of the transaction, the journal entries are entered in reverse chronological order.
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Related Questions
What role do ethics play in using technology in market research?
Answers
Answer:
The importance of ethics in marketing research doesn’t just apply to the way participants are treated but market research methods as well. Companies today have more access to customer data than ever before and this amount of access can easily lead to deceptive practices.
Explanation:
which one of the following is section 1231 property? multiple choice accounts receivable. copyright owned by an author. inventory. a building used in a trade or business.
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A building used in a trade or business is section 1231 property.
Section 1231 property refers to property used in a trade or business and includes real property, depreciable personal property, and livestock. Accounts receivable and inventory are considered ordinary income property, while a copyright owned by an author is considered a capital asset.
A building used in a trade or business is subject to special tax treatment under Section 1231 of the Internal Revenue Code.
This means that any gains or losses from the sale or exchange of the property are treated as long-term capital gains or losses. This allows for potential tax benefits for those who own and operate buildings used in a trade or business.
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Are these true or false ????
Answers
Answer:
10. true
11. false
12.false
13.true
14.false
15.false
Is demand more elastic in the long run or short run?
Answers
Demand is more elastic in the long run.
In general, demand is more elastic over the long term than it is over the short term. If the cost of a specific good or service rises, consumers might not be able to change their behavior in the near term and switch to different items or services. Demand may therefore be rather inelastic in the short run since the amount demanded may not change considerably in reaction to a price change.
However, customers have more time and may be able to locate alternatives or change their purchase patterns in the long run if prices rise. Demand will therefore likely be more elastic in the long run since the amount demanded is probably more responsive to price fluctuations.
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A company is considering a 5.year project to expand production with the purchase of a new automated machine using the latest technology. The new machine would cost 5190,000 FOB 5 t. Louis, with a shipping cost of $5,000 to the plant location, installation expenses of 510,000 would also be required. This new machine would be classified as 7-year property for MACRS depreciation purposes. The project engineers anticipate that this equipment could be sold for salvage for $38,000 at the end of the project. If the corporate tax rate is 25%. what is the after tax salvage cash flow for this new machine at the end of the project? (Answer to the nearest dollar.) MACRS percentages for depreciation each year are as follows:
Answers
The salvage value of the machine is $38,000. To determine the tax implications, we need to calculate the depreciation expense for each year using the MACRS percentages.
Year 1 depreciation expense: $195,000 * 20.00% = $39,000
Year 2 depreciation expense: $195,000 * 32.00% = $62,400
Year 3 depreciation expense: $195,000 * 19.20% = $37,440
Year 4 depreciation expense: $195,000 * 11.52% = $21,264
Year 5 depreciation expense: $195,000 * 11.52% = $21,264
Year 6 depreciation expense: $195,000 * 5.76% = $11,232
To calculate the tax savings from depreciation, we multiply each year's depreciation expense by the tax rate of 25%:
Year 1 tax savings: $39,000 * 25% = $9,750
Year 2 tax savings: $62,400 * 25% = $15,600
Year 3 tax savings: $37,440 * 25% = $9,360
Year 4 tax savings: $21,264 * 25% = $5,316
Year 5 tax savings: $21,264 * 25% = $5,316
Year 6 tax savings: $11,232 * 25% = $2,808
The after-tax salvage cash flow is calculated by adding the salvage value to the total tax savings:
After-tax salvage cash flow = Salvage value + Total tax savings
After-tax salvage cash flow = $38,000 + ($9,750 + $15,600 + $9,360 + $5,316 + $5,316 + $2,808)
After-tax salvage cash flow = $38,000 + $48,150
After-tax salvage cash flow = $86,150
Therefore, the after-tax salvage cash flow for the new machine at the end of the project is $86,150.
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How much yearly revenue does soccer brings in?
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Answer:
Soccer is a sport which gets majority of its revenue from television rights and tournament sponsors.
The Men’s World Cup tournament is known by the governing body, FIFA to generate more money than any other tournament. FIFA was believed to have earned more than $6 billion in its last organized men’s tournament.
This translates that the total revenue soccer brings in is in the region of hundreds of billions of dollars.
When calculating unemployment rate, how do you factor in a part-time employee,
such as someone working 20 hours a week but wants to work 40.
A.They count as 0.5% or half employed
B.They count as fully employed
C.They are not counted as part of D.the labor force
They are counted as unemployed
Answers
They are counted as 0.5%, or the half employed, for determining the unemployment rate. The unemployment rate is the percentage of jobless people in the labour force.
The labour force is made up of people who are either employed or unemployed. The Centre for Monitoring Indian Economy said that India's unemployment rate rose from a four-year low of 6.43% in September to 7.77% in October. A person is said to be unemployed if they are actively looking for work and are thought to be the employable. This group includes those who are in the workforce but do not have acceptable occupations.
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You open a new bank account at Eastside Savings. You see FDIC stickers around the bank, and the teller specifically mentions that Eastside
Savings is "FDIC Insured". A few months later, you hear on the radio that Eastside Savings is struggling to stay in business. Your savings balance
Is $500. What would happen to that money if Eastside Savings failed?
A.You could lose $250 since FDIC Insurance only covers 50% of the money you have deposited.
B.You would lose all of your money.
C.You would receive $250,000 since FDIC Insurance provides each account at the bank with $250,000 regardless of how much they
have deposited
D.You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Answers
Answer:
The correct option is D. You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Explanation:
Based on the information given what would happen to that money in a situation where Eastside Savings failed is that such individual would receive all the money he/she have deposited at Eastside Savings reason been that FDIC which is fully known as FEDERAL DEPOSIT INSURANCE CORPORATE insurance covers accounts up to the amount of $250,000 and Secondly Eastside Savings is "FDIC Insured".
the accounting term for a situation where two or more people act in coordination to circumvent internal controls is
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The accounting term for an instance where two or more individuals work together to get around internal controls is Collusion.
Internal controls are the systems, guidelines, and practises that a business uses to guarantee the accuracy of its financial and accounting data, foster accountability, and Collusion fraud. As the name implies, corrective controls are implemented to address any problems identified by detective controls.
These may also involve fixing any errors discovered once an accountant has completed the audit procedure on the accounting books. When two or more individuals collaborate to evade internal checks and steal from a business, this is called collusion.
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What else can be added as a bonus to employees to keep them at your company?
Answers
Answer:
Explanation:
Maybe give them a raise
Sam is getting his bachelor's degree. During some of his course work, he honed his research skills and learned to exhibit confidence while presenting to an audience. Which career has Sam most likely been preparing for?
Printing Technology
Telecommunications
Performing Arts
Journalism
Answers
Answer:
Journalism
Explanation:
Answer:
journalism
Explanation:
Dr. Rice administers a selection test to a group of job applicants for a manufacturing job. Years later, he then collects performance appraisal ratings of these workers so he can asseis to what extent scores on the selection test correlate with performance on the job. Dr, Rice is assessing the of the test Content Validity Predictive Validity Reliability Construct Validity 20.63 poevis Test X is a highiy respected selection test for postal workers. Test Yis a new selection test for postal workers that is shorter and easier to administer than Test X. The. correlation of Text X and Test Y would represent Divergent Validity Predictive Vakidity Content Validity Convergent Validity 3. 063 oolnts A researcher believes that physical theragists are extremely conscientious warkers as a whole. To assess her belief, she decides to create a measure of conscientiousness. In order to determine the questions to include, the interviews various 5ME on which questions should appropriately cover the construct. This is an example of - validity Internal External Construct Content
Answers
The first part of the question states that Dr. Rice administers a selection test to a group of job applicants for a manufacturing job.
Years later, he then collects performance appraisal ratings of these workers so he can assess to what extent scores on the selection test correlate with performance on the job.
Dr. Rice is assessing the of the test: Predictive Validity. The correlation between Test X and Test Y would represent: Convergent Validity.
In the third part of the question, the researcher wants to create a measure of conscientiousness. She interviews various SMEs on which questions should appropriately cover the construct. This is an example of Construct Validity.
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Which of the following situations would cause real interest rates to increase in the loanable funds market?a - Business investment being less than national savingsb - Supply exceeding demandc - Lending exceeding borrowingd - Quantity supplied exceeding quantity demandede - Quantity demanded exceeding quantity supplied
Answers
Conditions, where the quantity demanded, exceeds the quantity supplied will increase real interest rates in the loanable funds market. Here option E is the correct answer.
Real interest rates are determined by the interaction of demand and supply in the loanable funds market. The loanable funds market is the market where savers supply funds to borrowers, who demand funds to finance their investment or consumption needs. Therefore, changes in the factors affecting demand and supply can cause changes in real interest rates.
Out of the given situations, the situation that would cause real interest rates to increase in the loanable funds market is (e) quantity demanded exceeding quantity supplied. This situation implies that there is excess demand for loanable funds, which means that borrowers are demanding more funds than savers are willing to supply.
As a result, lenders (savers) can charge higher interest rates to lend their funds to borrowers. The increase in interest rates would reduce the number of loanable funds demanded, as borrowing becomes more expensive for borrowers, and increase the number of loanable funds supplied, as savers are attracted by higher returns on their savings.
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one way melt measures its progress is through detailed reports prepared in the field by its event marketers. recall the questions vince tells us are answered in these reports. drawing on what you learned in the chapter, what is the best way to use those questions in the body of a report?
Answers
The best way to utilize those questions is as the headings in the body of the report.
What are headings?A person or thing's heading is the direction they are traveling in. One example of a heading is a southbound automobile. The title or topic of an article or other piece of written work is what is meant by a heading. A heading could be a few sentences outlining the topic of an article.Headings and subheadings are a crucial usability and accessibility approach that aids users in navigating to specific material on the page as well as understanding the overall structure of the document.In other words, especially for documents longer than four paragraphs, they offer context and a way to navigate.So in the given situation, the best way to utilize those questions as the headings in the body of the report.Therefore, the best way to utilize those questions is as the headings in the body of the report.
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The correct form of the question is shown:
One way MELT measures its progress is through detailed reports prepared in the field by its event marketers. Recall the questions Vince tells us are answered in these reports. Drawing on what you learned in the chapter, what is the BEST way to use those questions in the body of a report?
The New York Times is attempting to adapt to the digital news revolution by doing all of the following EXCEPT
A. offering a lower priced online subscription trial.
B. publishing issues only online.
C. creating an app for smartphone/tablet.
D. including an online archive.
Answers
Which of the following correctly describes an example of a secondary competitor?
Answers
Answer: A coffee shop that also sells pastries would be a secondary competitor for a bakery that sells pastries, among other products.
(took the test)
What do you think are the most important components of budgeting? Why?
Answers
Answer:
I would have to say figuring out ur cash flow where its going after u earn it and making sure u keep track of ur savings
Explanation:
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What is the difference between profit and revenue?
O Revenue is the total amount producers receive after selling a good. Profit is the total amount producers earn after
subtracting the production costs.
Revenue is the total amount producers earn after subtracting the production costs. Profit is the total amount
producers receive after selling a good.
O Revenue is the total amount producers pay to manufacture a good. Profit is the total amount producers earn after
subtracting the production costs.
O Revenue is the total amount producers pay to manufacture a good. Profit is the total amount producers receive after
selling a good.
Noya
Submit
Answers
Answer:
Revenue is the total amount producers receive after selling a good. Profit is the total amount producers earn after subtracting the production costs.
Explanation:
amougus
How does the changes in the Mexican peso affect your life?
Answers
Answer:
The Mexican peso produces higher returns than the U.S. dollar because of higher interest rates.
Explanation:
if your comparing the 2 places
Is the sales manager a subordinate? explain why?
Answers
Managers from multiple functions can come together as part of a _______ to solve a specific corporatewide problem.
Answers
Managers from multiple functions can come together as part of a task force to solve a specific corporatewide problem.
Who is a manager?It should be noted that a manager simply means an individual in and organization that controls and guides the team to achieve the goals of the organization.
In this case, managers from multiple functions can come together as part of a task force to solve a specific corporatewide problem
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Which journal entry would be made by an accountant for a business for a $1,000 purchase of inventory on 1-August?
A. Inventory Cr 1,000
B. Inventory Dr 1,000
C. Cash Dr 1,000
D. Cash Cr 1,000
Answers
Journal entry would be made by an accountant for a business for a $1,000 purchase of inventory on 1-August Inventory Dr 1,000. Option B
What is a journal entry?Generally, The act of maintaining or creating records of any transactions, whether economic or non-commercial in nature, is referred to as an entry in a journal.
An accounting journal is a record kept by an organization that details the transactions that have taken place and display the debit and credit balances. The entry in the journal may include multiple recordings, each of which may be either a debit or a credit depending on the circumstance.
Each entry in the journal provides information that is pertinent to a single transaction made by a company.
This information includes the date, the amount that will be credited and debited, a short description of the transaction, and the accounts that will be impacted.
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The accompanying dataset provides data on the monthly usage of natural gas (in millions of cubic feet) for a certain region over two years. Implement the Holt-Winters multiplicative seasonality model with no trend to find the forecast for periods 13-26, where alpha equals0.6and gamma equals0.8 Then find the MAD for periods13-24.
Use the Holt-Winters multiplicative seasonality model with no trend to find the forecast for periods 13-18, periods 19-24, and then for periods 25 and 26.
(Type integers or decimals rounded to two decimal places asneeded.)
Month Period Gas Usage
Jan 1 238
Feb 2 229
Mar 3 149
Apr 4 142
May 5 57
Jun 6 35
Jul 7 29
Aug 8 28
Sep 9 29
Oct 10 42
Nov 11 89
Dec 12 196
Jan 13 226
Feb 14 240
Mar 15 248
Apr 16 133
May 17 34
Jun 18 32
Jul 19 28
Aug 20 26
Sep 21 29
Oct 22 38
Nov 23 83
Dec 24 184
Answers
The forecast for periods 13-26 ranges from 26.69 to 247.57 million cubic feet, and the MAD for periods 13-24 is 35.13 million cubic feet.
What is the forecast for periods 13-26 and the Mean Absolute Deviation (MAD) for periods 13-24 using the Holt-Winters multiplicative seasonality model?The forecast for periods 13-26 using the Holt-Winters multiplicative seasonality model with alpha = 0.6 and gamma = 0.8 is as follows:
Period 13 forecast: 247.57 million cubic feet
Period 14 forecast: 227.99 million cubic feet
Period 15 forecast: 233.88 million cubic feet
Period 16 forecast: 139.57 million cubic feet
Period 17 forecast: 32.62 million cubic feet
Period 18 forecast: 27.48 million cubic feet
Period 19 forecast: 26.69 million cubic feet
Period 20 forecast: 28.15 million cubic feet
Period 21 forecast: 33.45 million cubic feet
Period 22 forecast: 45.05 million cubic feet
Period 23 forecast: 80.75 million cubic feet
Period 24 forecast: 169.29 million cubic feet
Period 25 forecast: 218.18 million cubic feet
Period 26 forecast: 224.16 million cubic feet
To calculate the Mean Absolute Deviation (MAD) for periods 13-24, we compare the forecasted values with the actual gas usage data. The MAD is calculated by taking the average of the absolute differences between the forecasts and the actual values.
MAD for periods 13-24: 35.13 million cubic feet
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When establishing an ad campaign in a foreign country, what does the difference in currency exchange rate affect the most?
A)the cost structure of the ad campaign
B)the creative strategy of the ad
C)media used for the advertisement
D)the company’s brand name
Answers
Answer:
Option A. The cost structure of the ad campaign
Explanation:
The reason is that the currency exchange rate effects the transactions of money from home to foreign or foreign country to home country. So the option with money transaction is option A.
The rest of the options are planning and are things that are not associated with the foreign transactions. So the remainder options are not the one which will be effected by the currency exchange rate.
Answer: A. The cost structure of the ad campaign
Explanation:
In some arts, A/V technology, and communication careers, workers participate in apprenticeships. Why are
apprenticeships useful?
They allow experienced workers to learn new skills.
O They allow experienced workers to stay home from work.
O They allow new workers to get job experience.
They allow new workers to have paid benefits.
Answers
Answer: they allow new workers to get job experience
Explanation:
I know this from the back of my head and just took the test!
Jamie is researching places to live after graduating college he asked you I keep coming across as phrase cost-of-living I’ve never heard of it before do you know what it means which of the following definitions would you choose to explain to Jamie about cost-of-living means
Answers
Answer:
The cost of living refers to the prices of goods and services needed to sustain an average level standard of living in an area
Explanation:
The cost of living refers to the cost of keeping up with a given standard of living. It is the amount Jamie would need to keep up with basic expenses such as food, housing, clothing and medical care. Cost of living compares the expense between living in two different areas. Jamie's cost of living is tied to his wages and it can be measured using what is called purchasing power parity.
15. When performing a financial statement audit, auditors are required to explicitly assess the risk of material misstatement due to: A. Fraud. B. Misappropriation. C. Illegal Acts. D. Business risk.
Answers
When performing a financial statement audit, auditors are required to explicitly assess the risk of material misstatement due to "fraud" (option a).
Fraud is defined as an intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception that results in a misstatement in the financial statements. Assessing the risk of material misstatement due to fraud requires the auditor to obtain an understanding of the entity's environment, internal control, and procedures that address the risk of fraud.
The auditor must also assess the risk of fraud by evaluating the susceptibility of the financial statements to material misstatement due to fraud, and by designing audit procedures to detect such misstatements. The auditor is also required to communicate any identified or suspected fraud to those charged with governance and, in some cases, to regulatory authorities.
Option a is answer.
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What is NOT an advantage of being an entrepreneur?
Answers
Answer: Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business
Answer:
The advantages of entrepreneurship include the ability to shape one's own business, control of one's own working habits, and significant stock in the venture. Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business.
Explanation:
Executive orders 12674 and 12731 form the foundation policy on the ethical conduct of Federal Employees
Answers
Answer: a. Making authorized commitments
Explanation:
Executive Orders 12674 and 12731 (which amended 12674) of 1989 and 1990 respectively, were signed by President Bush with the purpose of setting forth the principles of ethical conduct that were required of Federal Government Officers and Employees.
These principles were meant to ensure that government officials and employees abstained from Abuse of power whilst working in such a way as not to bring disrepute to the Federal Government.
All of the above are violations of the Order except option A which is stated in Part I Section 101 (f) of Executive Order 12674. It reads that, "Employees shall make no unauthorized statements..." thus insinuating that employees are allowed to make Authorized statements.
The options given are violations of these Executive Orders except A. Making authorized commitments.
It should be noted that executive orders 12674 and 12731 form the foundation policy on the ethical conduct of Federal Employees. They're simply used to guide the way that Federal workers behave.
The violations of the Acts include using public office for private gain, giving preferential treatment to any person or organization, and defrauding the government.
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what number of units above the break-even level must be sold to earn the desired level of net income per month?