We have to calculate the amount of the sales taxes owed to a taxing agency.
The tax rate is 5% ( 0.05 ) and the balance in the sales revenue account amounted to $294,000.
$294,000 * 0.05 = $14,700
Answer:
Amount of the sales taxes is B ) $14,700.
Answer:
Cash shorting = 36,010 - 36,006 = $4
DR Cash $36,006
Cash Short and Over $ 4
CR Sales $36,010
There is a shortage of cash as the sales figure is more than the cash amount. The Cash Short and Over account will therefore be debited to reflect this expense.
I would say b or c because I learned that economics is the making and distributing of good and services. If i was answering i would pick c
It’s going to be A and it’s self explanatory so i don’t have an explanation
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