Answer:
Accounts Receivables 1200 debit
Sales Revenues 1200 credit
--to record purchase--
COGS 800 debit
Inventory 800 credit
--to record cost of goods sold
sales allowance & returns 200 debit
accounts receivables 200 credit
--to record sales allowance--
Cash 980 debit
sales allowance & returns 20 debit
Accounts receivables 1,000 credit
--to record collection within discount date--
Explanation:
We record making debit = credit
we also consider that we are working with perpetual inventory thus, the discount granted and allowance will later decrease the net sales figure.
Answer:
Requirement of the question is to prepare journal entries for each of transaction. where it is given that 40,000 common shares were outstanding at Beginning of the year.
Explanation:
Answer:
Without question, ethics is indeed a very hot subject of industry. Various forms of ethical challenge come up particularly in managing projects. I encountered only a handful of the above :-
(A) It is a predicament to finish the ethical task in a timely manner but to with over-exploit natural resources by simply avoiding even their own work-life balance.
(B) Much of the project has to be successfully completed and within likely cost. The conundrum faced can jeopardise the excess cost savings with the value of the project that would result in customer unhappiness.
Answer:
Journal entry to record wages expense and wages payable
Explanation:
As the company incurred no cost related to these earnings for federal unemployment tax so it would be excluded from wages and salaries expense
Entry DEBIT CREDIT
Salaries and wages Expense $68,000
Social Security(FICA) $5,202
Federal income tax $14,700
State income tax $6,300
union dues $900
Salaries and wages payable $40,898
Answer:
Return on Investment is an measure of corporate efficiency that is used by investors are other to estimate how well the company has gained profits and returns for their investments.
ROI makes it easier to compare companies in the same industry and it also can be used to compare the return on investments of a company over a period of time.
It is calculated by dividing the Earnings Before Interest, Tax and Depreciation by Investments amount.
the easiest way for comparing is to take them as a percentage. this way, it becomes simple to compare them quickly and easily.
Explanation: