Answer:
No
Explanation:
The receipt received from customer is view as expense and expense is not a revenue.
The receipt can be issue after purchase or return of good. so in this particular case its not a revenue. Thank you
Answer:
The most fair tax structure is progressive taxation.
Explanation:
Progressive taxation is the tax structure in which the higher the income of an individual, the higher the rates of taxation that person is subjected to.
This system is seen as the most fair by most individuals, including economists, because it is to be expected that people who make a lot of money pay a larger amount of taxes than people who make less.
For this reason, the majority of countries in the world use a progressive tax system.
To ensure the safety of guests and team members:
1. Constantly check that chairs, tables and other furniture are well secured to floors, walls or wherever they need to be
2. Make sure that wet or dangerous areas are fixed
3. Look for suspicious people as they may be a threat
4. Always know the place and check for any changes that may occur
Hope that helped!!! k
Answer:
The correct option is that the expected or the average cost of all the weekly rat purchases is $13.
Explanation:
Option a is true as there is no definite information about the future pricing is indicated. However from the historic data, it can be stated that the expected or average cost for all weekly rat purchases is $13.
Option b is not true as the statement given is a definition of mode of the purchase. There is no such information in the question.
Option c is not true as there is no information in the question indicating that the purchases are evenly distributed below and above the value of $13.
Option d is not true as there is no indication of this occurrence in the question in the definitive way.
Answer
Sales tax Payable = $780
Entry to record transaction is:
Dr: Cash $16,380
Cr: Sales Tax Payale $ 780
Cr: Sales $ 15,600
Explanation:
Coghlan Auto Supply sales are inclusive of tax so at first step it is necessary to segregate sales tax from the total sales of $16,380.
In order to calculate sales tax in Coghlan total sale divide the total sales figure with 1+the sales tax rate i.e (1+5%=1.05)
So the sales exclusive of tax will be: $ 16,380/1.05 = $15,600
Tax can be calculated now by subtracting Net sales by gross sales i.e $16,380-$15,600 = $780.