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Reptile [31]
3 years ago
12

Julie Convenience Store sold merchandise for cash to a customer, and recorded a debit to Cash for $371, which included a 6% Sale

s tax. In the same transaction, they must also: A) credit Sales Revenue for 300 B) credit Sales Tax Payable for $22.26 C) credit Sales Tax Payable for $21 D) credit Sales Revenue for $371 E) credit Sales Revenue for $393.26
Business
1 answer:
nlexa [21]3 years ago
3 0

Answer:

C) credit Sales Tax Payable for $21

Explanation:

Based on the information given In the same transaction, they must also CREDIT SALES TAX PAYABLE FOR $21 Calculated as:

First step is to calculate the sales tax element

Sales tax element = $371*6/106

Sales tax element= $21

Now let calculate what the Price exclusive of sales tax would be

Price exclusive of sales tax=$371-$21

Price exclusive of sales tax= $350

The correct journal entry should be:

Dr Cash $371

Cr Sales revenue $350

($371-$21)

Cr Sales tax payable $21

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John's job provided the main income for his family. He died unexpectedly and had no life insurance. The probable financial conse
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An increase in income and expenses

Explanation:

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Shania offers to sell her lakefront property to Tonya for $150,000, and Tonya agrees to buy it. Tonya and Shania both sign the r
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Some of the likely things which a court would do if Tonya sues to enforce the contract are:

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  • 2. award monetary damages to Tonya.
  • 3. require Shania to go through with the sale.
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<h3>What is a Contract?</h3>

This refers to the legally binding agreement which is entered by two or more parties based on terms and conditions.

With this in mind, we can see that because Shania wants to sell her lakefront to Tonya for $150,000 and they sign a contract but before they close the deal, Shania discovers that the property prices would go up and declines to sell.

In conclusion, if Tonya sues to enforce the contract, we can see that the contract would not be enforced, but Tonya would be paid monetary damages.

Read more about contract here:

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The theme of the poem is about the Bravery of the military unit .hence choice 1 is correct.

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An emotional poem, The Charge of the Light Brigade, both honors and mourns the battle's action. The concept of the valiant and gallant British soldier—one whose moral obligation was to fight for justice—emerged during the Crimean War.

Tennyson honors a military unit's bravery for charging the enemy despite insurmountable odds: they are "six hundred" against an "army."

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