Answer:
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Explanation:
George Washington: Washington has been called the "Father of His Country" for his manifold leadership in the formative days of the new nation.
The correct answer would be the fourth option. An economist that studies the sales and profits of a certain corporation would be called a microeconomist. Instead of studying the economy of a nation as a whole, this economist is more focused on a specific company on how it affects the growth the economy and how the sales and profits changes.
Answer:
B) $43,400
Explanation:
The computation of the net income is shown below:
Revenue $100,000
Less: Cost of goods sold $10,000
Gross profit $90,000
Less: Selling General & Administrative Expenses $20,000
Less: Research and Development Expense$5,000
Less: Depreciation and Amortization Expense $3,000
Operating income $62,000
Less: Income tax provision -$18,600
Net income $43,400
The journal entry for the transaction as mentioned above will include a debit in the organizational expenses for $4,300.
<h3>What are the golden rules of a journal entry?</h3>
As per the golden rules of a journal entry, all the expenses of an organization, whether direct or indirect are debited. Thus, in the above case, the organization expenses will be debited.
Hence, the significance of a journal entry is aforementioned.
Learn more about journal entry here:
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