The journal entry for the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
The government levies a consumption tax known as a sales tax on the purchase of goods and services. At the point of sale, a standard sales tax is imposed, collected by the retailer, and paid to the government. Companies must first apply for a sales tax permit from their state's department of taxation in order to be able to collect sales tax from customers. Every time a customer makes a purchase, businesses collect sales tax, which they subsequently monthly or quarterly send to the state.
As the selling price of the merchandise is $2,600 and the state sales tax is 6%, this means that 6% of $2,600 has to be paid to the state governing body.
Sales tax = 6% of 2600
Sales tax = 6/100 × 2600
Sales tax = 0.06 × 2600
Sales tax = $156
Therefore; the entry to journalize the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
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Answer:
$50? ($150 is not the correct answer)
Explanation:
Answer:
$63,000
Explanation:
Straight line method charges a fixed amount of depreciation for the period the asset is used in the business.
Depreciation Expense = (Costs - Salvage Value) ÷ Estimated useful life
therefore,
2021
Depreciation Expense = $420000 ÷ 4 = $105,000
2022
One month has already expired, therefore the remaining useful life out of 6 years will be 5.
New Depreciable Amount = Cost - Accumulated depreciation to date
= $420,000 - $105,000
= $315,000
Depreciation expense = $315,000 ÷ 5 = $63,000
Conclusion :
the revised depreciation expense for 2022 is $63,000
Answer:
9 kanban
Explanation:
The calculation of the number of kanban containers needed is given below:
= (Lead time demand + Safety stock) ÷ kanban size
where,
Lead time demand is
= 1,500 radios × 1 days
= 1,500 radios
Container size = 250 radios
Safety Stock is
= 1 ÷ 2 day × 1,500 radios
= 750 radios
So, the number of kanban containers needed is
= (1,500 radios + 750 radios) ÷ (250 radios)
= 9 kanban
We simply used the above formula to find out the required kanbans
