1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
forsale [732]
3 years ago
11

Peterson Company billed its customers a total of $840,000 for the month of November. The total includes a 5% state sales tax.

Business
1 answer:
Rina8888 [55]3 years ago
8 0

Answer:

a. $800000

b. Account receivable Dr. 840000  

                To sales revenue  800000

                To sales tax payable  40000

Explanation:

a. Given the total billed amount = $840000

    Sales tax = 5%

Total revenue for the month = 840000 x (100 / 105) = $800000

b. Account receivable Dr. 840000  

                To sales revenue  800000

                To sales tax payable  40000

You might be interested in
How is planning made and why is it important​
lapo4ka [179]

Answer:

planning

Explanation:

it Helps to Set the Right Goals

In particular, planning helps to critically assess the goal to see if it's realistic. It facilitates decision making and allows setting a time frame by predicting when the company can achieve its goal

8 0
3 years ago
Valence Electronics has 213 million shares outstanding. It expects earnings at the end of the year of $800 million. Valence pays
Dvinal [7]

Answer:

$75.12 million

Explanation:

For computation of Valence's share price first we need to find out the share price which is shown below:-

Share price = (Paid earning of Valence × Ended year of expected earning) ÷ (Equity cost of capital - Expected growth rate)

= (40% × $800 million) ÷ (9% - 7%)

= (0.4 × $800 million) ÷ (0.09 - 0.07)

= $320 million ÷ 0.02

= $16,000 million

Now, Valence's share price

= Total value ÷ Outstanding total shares

= $16,000 million ÷ 213 million

= $75.12 million

3 0
3 years ago
Write down any four techniques that you can practice to become an effective listener.
klemol [59]
For techniques that you can practice to become an efficient listener or listening with all ears paying attention giving feedback and observing your anatomy is of listening.
8 0
3 years ago
Read 2 more answers
Since commercial finance companies offer loans to higher-risk customers than commercial banks, the interest rates they charge ar
Bas_tet [7]

Answer:

The correct answer is (A)

Explanation:

Commercial finance is another way to generate funds, but they come with certain drawbacks compared to commercial banks. Commercial finance usually give loans to customers who are interested in more risky investments.  The interest they charge is usually higher which can only be paid if a client invests in riskier investments to earn higher returns.

3 0
3 years ago
Suppose a commercial banking system has $40,000 of outstanding checkable deposits and actual reserves of $4,500. If the reserve
ludmilkaskok [199]

Answer: $50000

Explanation:

Based on the information that's been given in the question, firstly we need to calculate the excess reserves which will be:

= $4500 - (10% × $40000)

= $4500 - $4000

= $500

Then, the money supply that's expanded will be:

= Excess reserve / Reserve ratio

= $5000 / 10%

= $5000 / 0.1

= $50000

Therefore, the answer is $50,000.

3 0
3 years ago
Other questions:
  • A problem that the Fed faces when it attempts to control the money supply is that a. since the U.S. has a fractional-reserve ban
    10·1 answer
  • RF Company had January 1 inventory of $150,000 when it adopted dollar-value LIFO. During the year, purchases were $900,000 and s
    15·1 answer
  • Variable costs ______. remain constant in total and vary per unit. remain constant per unit and vary in total. remain constant b
    8·1 answer
  • Many businesses/organizations have performance problems that can be reevaluated to improve performance. Explain Research Problem
    7·1 answer
  • __________This import tax was meant to replace the earlier "Tariff of Abominations", but it was widely disliked by southern merc
    6·1 answer
  • The 2017 financial statements of Meadowlark Corporation report that the company paid dividends of $21,825,000 to its preferred s
    10·2 answers
  • Adele decides to purchase several silver tea sets from Vaughn's gift store. In their sales contract, Adele and Vaughn do not spe
    12·1 answer
  • Rent is $1,258. Phone charges last month were $46.88. Groceries cost about $115/week. What is a good estimate of your monthly ex
    6·1 answer
  • Coffee to
    15·1 answer
  • Does anyone else's parent threaten to abuse them when you do bad in school or is it just me?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!