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Ksju [112]
3 years ago
13

As Mariah was looking over her sales receipt for the shirt she bought at a retail store, she discovered that she was charged 6%

more than the price tag showed for the item. What is the extra 6% charge most likely to be?
A. An excise tax on the shirt she purchased.B. Property tax on the shirt she purchased.C. Income tax on she shirt she purchased.D. Sales tax on the shirt she purchased.
Business
1 answer:
Mariana [72]3 years ago
7 0

Answer:

D. Sales tax on the shirt she purchased.

Explanation:

Sales tax is a consumption tax levied by government on the sale of goods and services. Sales tax is usually collected at the point of sale, by the retailer and passed onwards to the government through a tax collection agency.

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Answer:

Annual depreciation= $4,300

Explanation:

Giving the following information:

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Salvage value= $1,800

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To calculate the depreciation expense using the straight-line method, we need the following formula:

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3 years ago
Mercury Inc. purchased equipment in 2019 at a cost of $400,000. The equipment was expected to produce 700,000 units over the nex
Wittaler [7]

Answer:

See explanation section

Explanation:

We know,

Annual depreciation rate under Units-of-production = Depreciable amount/Overall (expected) production

Given,

Purchase value = $400,000

Residual value = $50,000

Expected production = 700,000 units

Depreciable Amount = $(400,000 - 50,000) = $350,000

Annual depreciation rate = $350,000/700,000

Depreciation rate = $0.50

Thrrefore, Accumulated depreciation from 2019 to 2021 = (100,000 + 160,000 + 80,000)*$0.50

= $170,000

We know, Book value of asset = Cost price - Accumulated depreciation

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The journal entry to record the sale =

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7 0
3 years ago
Read 2 more answers
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