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- Please explain right and wrong options also. question atatchedSales tax rate 7% on account to Trailor Stores, $3,248.00, plus sales tax S321 1 3 Sold merchandise Received cash on account from Jenkins & Sanders LLP, covering S312 for $945.00. R348. 5 Recorded cash and credit card sales, $1,485.00, plus sales tax, $92.14; total, $1,577.14. TS6. Received cash on account from Luxury Suites, $4,219.00, covering 5320, less a 2% discount. R349. 10 Sold merchandise on account to Southwestern University, $1,435.00. Southwestern University is exempt from sales tax. S322. 12. Received cash on account from Daniel Smith Promotions, $1,471.00 covering 5345. R350. 16. Recorded cash and credit card sales, $1,020.50, plus sales tax, $64.59, total, $1,085.09. TS7. 20 prove, and rule the sales journal. Pas the sales journal to the general ledger. Tal and prove the cash receipts journal. Pove cash. On March 31, the balance on the next unused check stub was $11,582.54. Rule the cash receipts journal. 1. Post the cash receipts journal to the general ledger.…do only (A) part, please
- matching.Briefly explain these terms:b. Shadow price33. During a move to a new location, the inventory records of 98 Degrees were misplaced. The bookkeeper has been able to gather some data for the July purchases: Units Unit cost Total cost July 5 10,000 65 650,000 10 12,000 70 840,000 15 15,000 60 900,000 25 14,000 55 770,000 On July 31, 17,000 units were on hand. The sales for July amounted to P6,000,000 or 60,000 units at P100 per unit. The entity always used a perpetual FIFO inventory costing system. Gross profit on sales for July was P2,400,000. What was the cost of the inventory on July 1?34. Thug Life Company provided the following information at year-end: Cost Retail Inventory, January 1 700,000 1,100,000 Purchases 4,200,000 5,700,000 Additional markup 200,000 Markdown 100,000 Sales 5,400,000 Under the approximate lower of average cost or NRV…
- Which of the following attorney's fees would not be deductible? Check all that apply!! Question 4 options: Attorney's fee paid by a sole proprietor to assist in collecting delinquent accounts Attorney's fee paid for preparing a title opinion and handling a closing pursuant to the purchase of a personal residence. Attorney's fee paid for preparing a title opinion and handling a closing pursuant to the purchase of a rental property. Attorney's fee paid for the purpose of preparing a Last Will and Testament. Attorney's fee paid by a landlord to assist in the eviction of tenants Attorney's fee paid to handle a defense of a business related criminal chargeWhat is meant by caveat emptor?please explan correct ans