1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
adoni [48]
3 years ago
8

Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $13,000 of cash sales that ar

e subject to an 8% sales tax, what is the journal entry to record the cash sales?
Business
1 answer:
Dafna1 [17]3 years ago
3 0

Answer:  $1040

Explanation:

You would debit the accounts receivable for the entire amount of the sale.

then you would credit the sales account for the sales amount (minus the sales tax amount)

the add a credit to the sales tax liability account for the amount of sales taxes

You might be interested in
If bond interest expense is $800,000, bond interest payable increased by $8,000 and bond discount decreased by $2,000, how much
Zarrin [17]
<span>If bond interest expense is $800,000, bond interest payable increased by $8,000 and bond discount decreased by $2,000, how much cash was paid for bond interest? = </span>$806,000
5 0
3 years ago
LO 4.3From beginning to end, place these items in the order of the flow of goods.
mafiozo [28]

Answer:

  1. cost of goods sold
  2. raw materials inventory
  3. work in process inventory
  4. finished goods inventory

Explanation:

solution

As manufacturing industry always keep the track of costs of each inventory as product is moving from the raw material inventory in to the work in process and by the work in process it goes into the the finished goods inventory

so order of the flow of goods from beginning to end is

  1. cost of good sold  
  2. raw material inventory  : it is the total cost of material that is use in production process
  3. work in process inventory : work in process inventory is continually update work cost is record
  4. finished good inventory  : after each job work complete then product is transfer to finished goods inventory

3 0
3 years ago
Write a paragraph summary of the history of credit and consumerism
ollegr [7]

Answer:

Credit was invented by Mr A Smith (of bank note fame) to allow parents to top-up teenagers phones. This was viewed as particularly important since without it they would be unable to cheat on their homework.

Explanation:

Do I really need to explain such an egregious answer

7 0
3 years ago
There are a variety of types of conflict that can occur among channel members. If a hardware store down the street from our ice
Mamont248 [21]

Answer:

conflict caused by the hardware store adopting "scrambled merchandising" marketing.

Explanation:

Scrambled merchandising occurs when a shop sells a good that is not the usual type of products it sells. A store owner may adopt scrambled merchandising to utilise unused space or to increase bottom line.

When a store owner sells many unrelated goods it gives the buyer the impression that the seller does not specialise in a particular type of product.

The conflict in this case arises through scrambled merchandising. A hardware store starts to sell ice cream like our own business.

6 0
3 years ago
Carmex Lip Balm was created in 1937 by Alfred Woelbing and his wife in his family kitchen in Wauwatosa, Wisconsin. Over the next
WINSTONCH [101]

Answer:

1. b. Competitive

2. a. It should provide superior value in terms of lower price, and/or convenience, and accessibility

Explanation:

The competitive pricing is marketing strategy in which a product price is set after careful consideration of competitor's price. The pricing of a product is determined based on competitor's product price. The Carmax product moisture plus should follow competitive pricing strategy as the market is not in the mature stage.

The Carmax should offer lower price and create high value to the consumers. Carmax can gain competitive advantage by economies of scale and some unique features.

5 0
4 years ago
Other questions:
  • Type the correct answer in the box. Spell all words correctly. Which entities offer certifications and qualifications in account
    8·1 answer
  • Following the assumption that firms maximize profits, how will the price and output policy of an unregulated monopolist compare
    13·1 answer
  • In most interviews (unlike typical conversations), the ratio of speaking turns is uneven. During a typical interview, the interv
    15·1 answer
  • Producers sell goods or services for a profit. True False
    13·2 answers
  • Which of the following correctly orders the investments from LOWER risk to HIGHER risk?
    10·1 answer
  • Almost all financial theory and decision models assume that the financial markets are efficient. The informational efficiency of
    5·1 answer
  • 1. Lily operates a gift shop and has a lot of inventory to manage. She counts inventory once every 4 weeks. Preparing and placin
    15·2 answers
  • Windsor Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 4 years and requires eq
    8·1 answer
  • 32,500 shares of common stock outstanding at a price per share of $80 and a rate of return of 12.95 percent. The firm has 7,350
    9·1 answer
  • What is the third rule to normalize a database?
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!