0
What will be the journal entry for Recorded revenue of 16000 in cash and 1200 on credit?
Wiki User
∙ 13y ago
If we have a revenue of $16000, of which $1200 was on "credit" then we simply need to figure the amount of "cash" we received and then record the transaction to the Journal.
$16000 (revenue) - $1200 (credit) = $14800 (cash)
Cash (debit) $14800
Account Receivable (debit) $1200
Revenue (credit) $16000
In double-entry accounting credits must equal debits.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is the income tax on 16000?
Multiply the taxable amount of 16000 by your marginal tax rate if your marginal tax rate is 10% then the income tax amount would be 1600. !6000 X .15 = 2500
What is the proper adjusting entry at April 30 the end of the fiscal year based on a prepaid insurance account balance before adjustment 16000 and unexpired amounts per analysis of policies 6000?
debit insurance expense 10000 credit prepaid insurance 10000
How much money can you gift tax free to your son or daughter each year?
as of 2012 it is $15,000 per year.
Is it possible to get a tax refund larger than the amount withheld?
For 2010, there is a "making work pay" tax credit of up to $400. If you made below the threshold to pay taxes (around 16000 for single), then you would get all you paid in back, plus some or all of the $400 tax credit. In some instances, employers were able to not withhold the amount for the tax credit (giving you extra in your check) so that you don't get the tax credit. That is apparently a fairly rare situation, however. The $400 tax credit maxes out at $400, and is reduced based on income, beginning around $60000 if filing single, going to zero once over $75000. Sorry I don't have the exact numbers, but they are in most of the worksheets. Search the IRS web site for "making work pay" and it will provide exact details.
If you earn less than 16000 do you get all your tax back?
You will not know this answer until you complete your federal income tax return correctly. If you are a single taxpayer filing your 1040 federal income tax return correctly with no adjustments to income using the single filing status the standard deduction and your exemption amount for the tax year 2009.If you are not a dependent on another taxpayers income tax return and if you are under the age of 65 for the tax year 2009 you can have 9350 free of federal income tax. 16000 less 9350 leaves 6650 of taxable income that will be subject to the federal income at your marginal tax rate for a single taxpayer from the 1040 instruction book the tax table amount would be 668.6,650 to 6,700 Income tax is 668 federal income tax liability for the tax year 2009It is possible that could qualify for some earned income tax credit and the making work pay tax credit if your qualify for them and complete your federal income tax return correctly and credits amount would reduce the federal income tax liability amount and could result in a refund when your income tax return is completed correctly.
What is 2.15 percent of 16000?
2.15% of 16000 = 2.15% * 16000 = 0.0215 * 16000 = 344
What is 15733 rounded to the nearest thousand?
16000
How do you convert 16kg to grams?
16 kg = 16000 g16 kg = 16000 g16 kg = 16000 g16 kg = 16000 g16 kg = 16000 g16 kg = 16000 g
What is 20 percent off of 16000?
20% off 16000 = 16000 - (0.2 x 16000)= 12800
How do you write 16000 in numeric?
You write it as 16000, exactly as in the question.
How do you round 15763 to the nearest thousand?
It is 16000.
What is 5 percent increase of 16000?
5% of 16000 = 16000*5/100 = 800. So 16000 + 5% = 16800
What is 01 percent of 16000?
1 percent of 16000 is 16000/100= 160; 0.1 % of 16000 is 160/10=16
What is 5percent of 16000?
5% of 16,000= 5% * 16000= 0.05 * 16000= 800
What is 16000 subtract by 45 percent?
15955
What is the positive numeric value of 16000?
The positive numeric value of 16000 is 16000 it self
WHAT IS 94 percent of 16000?
94% of 16,000 = 94% * 16000 = 0.94 * 16000 = 15,040
