What is the journal entry for Paid 20,000 for business automobile?
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A: 223
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A: Calculation of VAT for each transaction 1. 65,000 * 19 % = 12,350 Gross Amount= 65,000+12,350 =…
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A: In the given question we require to calculate the monthly payment on car finance.
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Q: th where
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- Find the average payment period if accounts payable is $10,000, cost of goods sold is $200,000, and sales are $500,000.Suppose you want to estimate your transportation expenses for the year.Explain how you could use this one-month statement to make an estimate for one year of transportation expenses.21. M. Bassie sold the balance in its accounts receivable account of $120,000 to a factor, giving 3% factoring fee. How will this sale be journalized in Kassie's books?
- Subject: accountingCalculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup (Use Table 14.1.) Note: Do not round intermediate calculations. Round the Finance charge to the nearest cent. Purchase price of a used car $ Down payment 1,273 5,773 $ Number of monthly payments 48 Amount financed Total of monthly payments $ 5,829.76 Total finance charge APRYour company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this?
- The following terms appeared on an invoice dated May 20, sent by a manufacturer to a retail store: 2/10, net 30. The amount of the invoice was $2,000. Assuming the retailer paid the invoice on May 30 (10 days after the products were delivered), how much should he have paid?a homeowner is selling their home. How much transfer fee is charged at the rate of $1.10 per thousand if the sales price is $770,500 and the net proceeds are $550,000?A customer buys a company product on the internet for $1,000 with bitcoins. At the end of the year he bit coins are worth $5,000. The company's income statements show sales of $1,000. Why?
- Prisha received an invoice for $5,000 that had payment terms of 3/5 n/30. She made a partial payment of $2,000 during the discount period. a. Calculate the amount credited. Round to the nearest cent b. Calculate the balance on the invoice after the partial payment was made.A) What is the APR for purchases made using this credit card? B) What is the maximum amount that Marcus can put on this credit card? C) Did Marcus pay off the entire balance of his credit card last month? D) Suppose Marcus pays the minimum payment due this month, what will his new balance be, after this payment is processed and assuming he makes no additional purchases?Purchase various shop supplies from CAPA Auto Parts; the cost was $1400, due in 30 days. In accrual accounting basis, it should be: Shop Supplies 1400 A/P 1400 How about in cash basis? Should I record the transaction after 30 days as below? Is it correct? Shop Supplies 1400 cash 1400
