DogMart Company records depreciation for equipment. Depreciation for the period ending December 31 is $1,400 for office equipmen

Response:

As an individual, I find myself far from my ideal time distribution due to various factors outside my control. One must rely on their surrounding environment comprised of individuals nearby.

Sleep patterns and both mental and physical health play significant roles in time management. During periods of stress and overwhelming pressure, one may find themselves spending more time on sleep than necessary.

Answer:

Comparative advantage

Explanation:

The reason is that Japan incurs a lower opportunity cost in producing cameras compared to the US, which gives Japanese firms an advantage in competition based on production costs rather than efficiency. Japanese cameras dominated the US market easily since the production costs in Japan are significantly lower than in the US. Hence, comparative advantage theory aptly explains this camera trade in international commerce.

Answer:

Explanation:

a. On March 2

Debiting Accounts Receivable A/c $$887,400

                                             Crediting Sales A/c $$887,400

(Recognizing the sale of inventory at sale price)

Debiting Cost of Goods Sold A/c $

                    Crediting Merchandise Inventory A/c $571,700

(Recognizing merchandise sold at cost)

b. On March 8

Debiting Sales Return and Allowance A/c  $103,200

                                 Crediting Accounts Receivable  $103,200

(Recording the sales return)

Debiting Merchandise Inventory A/c  $62,500

                                        Crediting Cost of Goods Sold A/c  $62,500

(Recording the sales return)

c. On March 12

Debiting Cash A/c $768,516

Debiting Sales Discounts A/c $15,684

         Crediting Accounts Receivable A/c $784,200

(Recording cash received)

Calculating the balance owed is as follows:

= Sale of inventory - Returns

= $887,400 - $103,200

= $784,200

And the discount = $784,200 × 2% = 15,684

Answer:

$146,150.00

Explanation:

Net income is calculated after taxes.

Here,

Sales = $820,000.00

Less: Expenses = -$540,000.00

Gross profit = $280,000.00

Less: Financial Expenses

Interest = -$36,000.00

Depreciation = -$59,000.00

Net profit before tax = $185,000.00

Less: Tax at 21% of $185,000.00 = - $38,850.00

Net Income (after taxes) = $146,150

Net income is always determined after accounting for tax.

$146,150.00