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r-ruslan [8.4K]
3 years ago
13

Crawford Company has total proceeds (before segregation of sales taxes) from sales of $7,155. If the sales tax is 6%, the amount

to be credited to the account Sales Revenue is:
Business
1 answer:
NeTakaya3 years ago
8 0

Answer:

$6,726

Explanation:

If Crawford Company has total proceeds (before segregation of sales taxes) from sales of $7,155. If the sales tax is 6%, the amount to be credited to the account Sales Revenue is:

Sales Proceeds - 7,155

less: Sales Tax -    <u>429</u>

Sales Revenue -  <u>6,726</u>

<u>Sales tax is included in revenue but not included in net sales. Sales revenue does not include sales tax collected by the business.</u>

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Raymond owns an Accidental Death and Dismemberment Policy with a principal sum of $50,000, and a capital sum of $25,000. After o
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Answer:

He will get nothing from the Accidental Policy.

Explanation:

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6 0
3 years ago
The Goodsmith Charitable Foundation, which is tax-exempt, issued debt last year at 8 percent to help finance a new playground fa
NeTakaya

Answer:

10%

Explanation:

Given that,

Interest at last year debt = 8%

Current year cost of debt = 25% higher

Firms paid for debt last year = 10%

Firms paid for debt in current year = 12.50%

Kd - cost of debt

Yield = Interest at last year debt × (1 + increase in cost of debt)

         = 8% × (1 + 0.25)

         = 8% × 1.25

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Kd = 10% (1 – 0)

     = 10% (1)

     = 10%

Therefore, after tax cost of debt would be 10%.

8 0
3 years ago
Prepare a bank reconciliation as of October 31 from the following information:
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Answer:

              Bank Reconciliation Statement as of October 31

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Balance as per bank          $350      Balance as per books    $806

Add: Late deposit               $433      Less: Returned checks   $80

Less: Outstanding check    $66       Less: Error recordings    $9

          ($24+$42)                                           ($65-$56)

Reconciled Balance           $717        Reconciled Balance       $717

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3 years ago
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If an employer does not offer a retirement plan, what might be another way to save for retirement?
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If an employer does not offer a retirement plan, the best option that an employee can do is to invest in an insurance company that can offer such service. There are insurance companies that not only guarantee a person's investment on health, travel, and recreation, there are also those that give opportunities for people who are seeking to retire from their work. 
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