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Gwar [14]
3 years ago
14

E13.5 (LO 1 ) (Adjusting Entry for Sales Tax) During the month of June, Rowling Boutique recorded cash sales of $233,200 and cre

dit sales of $153,700, both of which include the 6% sales tax that must be remitted to the state by July 15. Instructions Prepare the adjusting entry that should be recorded to fairly present the June 30 financial statements.
Business
1 answer:
Andru [333]3 years ago
7 0

Answer:

The entries that record the sales tax should be:

June X, 202x, for cash sales

Dr Cash 233,200

    Cr Sales revenue 219,208

    Cr Sales tax payable 13,992

June X, 202x, for credit sales

Dr Accounts receivable 153,700

    Cr Sales revenue 144,478

    Cr Sales tax payable 9,222

The journal entry to record the payment of sales tax:

July 15, 202x, payment of sales taxes

Dr Sales tax payable 23,214

    Cr Cash 23,214

You must record sales taxes at the moment that the sale is made, crediting a liability (sales tax payable) along with the revenue account.

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Phi Upsilon Nu, a student social organization, has two different locations under consideration for constructing a new chapter ho
Elza [17]

Answer:

Phi Upsilon Nu

The total annual costs for the Alpha Ave. location with twenty persons living there is:

= $9,000.

Explanation:

a) Data and Calculations:

ANNUAL OPERATING COSTS

LOCATION   FIXED        VARIABLE                Total Costs

Alpha Ave.  $5,000      $200 per person     $9,000 ($5,000 + $200 * 20)

Beta Blvd.   $8,000       $150 per person     $11,000 ($8,000 + $150 * 20)

b)The variable cost of each location varies according to the number of persons living there and the rate incurred per person.  The fixed cost does not vary, at least, with the relevant range for either location.  When the total variable costs are computed, these are added to the fixed cost to obtain the total costs.  Then there is a comparison of the two locations to determine the location with the least total costs.

7 0
2 years ago
Tài liệu về NVL X tại 1 DN tính và nộp thuế GTGT theo phương pháp khấu trừ tháng 03/N
hram777 [196]

Answer::!;!,!’cldldkfnbbfndkdfkf

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Fbxnbdndndnxnxfnnfncdk

8 0
3 years ago
People pursue _____________ projects in the market and ____________ projects in government.
Bingel [31]
A. Their own, their own
Is the answer
4 0
3 years ago
Rodriguez Company pays $310,000 for real estate plus $16,430 in closing costs. The real estate consists of land appraised at $21
Sergeeva-Olga [200]

Answer:

Required 1.

Land =  $163,215

Land improvements = $65,286

Buildings =  $97,929

Required 2.

Land  $163,215 (debit)

Land improvements $65,286 (credit)

Buildings $97,929 (credit)

Cash $310,000 (credit)

Explanation:

Allocation of the purchase cost must be made on the bases appraisal value.

Total Appraisal Value =  $215,000 + $86,000 + $129,000

                                    =  $430,000

Land = $215,000 /  $430,000 × $326,430

        = $163,215

Land improvements =  $86,000 / $430,000 × $326,430

                                 = $65,286

Buildings = $129,000 / $430,000 × $326,430

                = $97,929

6 0
3 years ago
As a general rule concerning job offers, it can be said that __________. select one:
AlladinOne [14]
As a general rule concerning job offers, it can be said that <span>"competitive" job offers tend to leave room to negotiate</span>. When a company decides they want to hire a person, they make a job offer that lays out what they are giving the person in return for their employment. They explain the benefits and their job duties. Because job offers are competitive they leave room for the person being hired to negotiate terms before they both agree on them. 
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