Answer:
On Jan 31
Vacation pay expense Dr $8,900
To vacation payable $8,900
(Being the vacation expense is recorded)
Explanation:
The journal entry is as follows
On Jan 31
Vacation pay expense Dr $8,900
To vacation payable $8,900
(Being the vacation expense is recorded)
The computation is shown below:
= Estimated amount of the current year's vacation pay ÷ total number of months in a year
= $106,800 ÷ 12 months
= $8,900
For recording this transaction we debited the vacation expense as it increased the expenses while at the same time it also increased the liabilities so the vacation payable is credited
Answer:
We should not lower taxes for the wealthiest Americans because they own and run a lot of companies and businesses that we use. Lower income Americans want their leaders to understand or know what it’s like to be less wealthy so they’ll be more sympathetic towards lower income people and won’t do everything out of the want for more money. If they have to pay lower taxes, then that takes away from their ability to sympathize with lower income homes, and that would upset a lot of people.
Answer:
<em>Product X and Z should be processed further because the additional sales revenue is greater that further processing cost which leads to a profit. </em>
<em>Product Y should not be processed further because doing so would lead to a loss</em>
Explanation:
WP Corporation should process further a product if the additional revenue from the split-off point is greater than than the further processing cost.
Also note that all cost incurred up to the split-off point (i.e $92,000) are irrelevant to the decision to process further .
X Y Z
Sales value at split of point 23 24 25
Sales value after split off point <u> 27</u> <u> 27 </u> <u>32</u>
Additional sales value 4 3 7
Further processing cost <u>( 2)</u> <u>( 4 ) </u> <u>( 4)</u>
Net income?(loss) 2 (1 ) 3
Product X and Z should be processed further because the additional sales revenue is greater that further processing cost, which leads to a profit.
Product Y should not be processed further because doing so would lead to a loss
Answer:
the correct answer is C. by earning tax benefits
Explanation:
it is a common practice in many countries to provide tax rebates, reliefs and even special lower tax rates for environmentally friendly green products and environmental friendly production processes. this is a main way a company can benefit by having a green business model.
Answer:
45.67%
Explanation:
The component percentage for total expenses is shown below:
Component percentage = (Total expenses ÷ Sales revenue) × 100
where,
Total expenses equal to
= Advertising Expense + Insurance expense + rent expense + supplies expense + utility expense
= $1,300 + $850 + $900 + $250 + $125
= $3,425
And, the sales revenue is $7,500
So, the component percentage is
= ($3,425 ÷ $7,500) × 100
= 45.67%
