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kherson [118]
3 years ago
14

A retail store's Sales Account totals $223,000 which includes both the sales revenue and the sales tax on the sales. If the sale

s tax rate is 5%, what is the amount of the sales taxes owed to the taxing agency?
Business
1 answer:
ella [17]3 years ago
3 0

Answer:

$10,619.05

Explanation:

When sales is made at a tax rate of 5%, the entries to be posted in the proportion of the transaction amount

Dr Cash/ Accounts receivable 105%

Cr Sales revenue 100%

Cr Sales tax 5%

As such, if Sales Account totals $223,000 which includes both the sales revenue and the sales tax on the sales, it means that the accounts contains 105%, as such, the sales tax which is the amount owed the taxing agency

= 5/105 * $223,000

= $10,619.05

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For an analysis of the salaries of your​ company, you plot the salaries of all employees against the number of years they have w
Arisa [49]

Answer:

1. That values that you must plot are:

  • (1, 4.08))
  • (20, 5.08)
  • (40, 6.18)

2. Yes, the plot of those three points is straight enough.

Explanation:

<em><u>A. What are the values you will​ plot? </u></em>

The x-ccordinate of your plot is still the number of years the exmployees have worked for the company.

The y-coordinate of your plot is the the​ base-10 logarithm of  the salary.

Therefore:

<u>1) A​ part-time shipping​ clerk</u>: 1 year, $12,000

           ⇒     (1,log_{10}12,000)=(1,4.08)

<u>2) A manager</u>: 20 years, $120,000

  ⇒     (20,log_{10}120,000)=(20,5.08)

<u>3) The​ CEO</u>: 40 years​ ago, $1,500,000

  ⇒     (40,log_{10}1,500,000)=(40,6.18)

Summarizing, the points to plot are:

  • (1, 4.08)
  • (20, 5.08)
  • (40, 6.18)

<u><em>B. Will the plot of these three points be straight​ enough?</em></u>

To find whether the plot is straight enoguh, you may either plot them, make a regression, or, since they are only three points, you can whether the change of rate of the points is constant.

  • <u>Change of rate of the first two points, r</u>:

       r = rise/run = Δy / Δx = (5.08 - 4.08) / (20 - 1) =1.00/19 ≈ 0.05

  • <u>Change of rate of the second and the third points, r</u>:

       r = rise/run = Δy / Δx = (6.18 - 5.08) / (20 - 1) = 0.05

Since both rate of changes are equal (or reasonably equal) the plot is  straight enough.

4 0
2 years ago
Karen is designing a process for issuing checks and decides that one group of users will have the authority to create new payees
Nataly [62]

Answer:

D. Separation of Duties

Explanation:

Separation of duties also know as segregation of duties refuses that one person he responsible of acquisition of assets, their custody and related record keeping. The process in which Karen is using to prevent fund by separating individuals who as the authority to issue checks is known as separation of duties. It is a form of internal control aimed at reducing risk of errors and frauds.

4 0
2 years ago
What drawbacks will you mention to your supervisor?
Daniel [21]

Answer:

A.IM presents the possibility of privileged information being discussed in public forums.

B.IM can be an additional workplace distraction that keeps employees from focusing on tasks.

Explanation: IM(instant messaging) is a kind of Communication channel or platform that allows you to create Private chartroom with others such as your colleagues. Instant messaging alerts you to inform you that someone in your connections is available online to chat if need be you will enter into a chat Section with him or her,instant messaging is a text based Communication platform.

6 0
3 years ago
On January 1, 2018, Moore, a fast-food company, had a balance in its Cash account of $54,000. During the 2018 accounting period,
7nadin3 [17]

Answer:

Net cash flow as at the year end=          $22,100

Explanation:

The statement of cash flows for Moore shall be calculated as follows:

Cash balance as at January 1, 2018=     $54,000

Cash inflow from operating activities=  $35,600

Cash outflow from investing activities= ($43,000)

Cash outflow from financing activities= ($24,500)

Net cash flow as at the year end=          $22,100

4 0
3 years ago
Which of the following is one symptom that might indicate a problem with your computer memory (RAM)?
sweet-ann [11.9K]

The correct answer is D

D- Randomly corruption files

Have a good day and good luck.

4 0
3 years ago
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