Business, 01.07.2020 22:01 AdoNice

For this week's discussion question, evaluate the equity, certainty, convenience, economy, and simplicity of our current progressive income tax system. Where is it strong, where is it weak? To what extent would implementing a flat tax correct the shortcomings of our current progressive tax system? What type of tax reform, if any, would you support?

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As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?

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Business, 22.06.2019 23:30

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.

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