Answer:
Requirement: Prepare the entry to record the sales transactions and related taxes.
1. Date Account Titles and Explanation Debit Credit
Apr. 10 Cash $30,975
Sales Revenue $29,500
Sales Tax Payable $1,475
(To record Cash sales along with sales tax)
2. Date Account Titles and Explanation Debit Credit
Apr. 15 Cash $18,530
Sales Revenue $17,000
Sales Tax Payable $1,530
(To record Cash sales along with sales tax)
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<u>Workings</u>
- Total Sales along with sales tax = $18,530, Sales Tax Rate = 9%. Sales Tax Amount = 18530*(0.09/1.09) = $1,530
- Sales Without Sales Tax = $18,530 - $1,530 = $17,000
Answer:
The Cash paid to suppliers was $85,000
Explanation:
Data provided in the question:
Cost of goods sold = $100,000
Decrease in inventory = $5,000
Increase in accounts payable = $10,000
Now,
Cash paid to suppliers will be
= Cost of goods sold - Decrease in inventory - Increase in accounts payable
= $100,000 - $5,000 - $10,000
= $85,000
Hence,
The Cash paid to suppliers was $85,000
It should be noted that basic objective of a CPA firm is to provide professional services, and this is done by system of quality control.
With the establishment of quality control policies as well as procedure, reasonable assurance can be provided.
<h3>What are objective of a CPA firm?</h3>
The objective of a CPA firm is to be in control of the system and regulate the system activities.
objective of a CPA firm at;
brainly.com/question/14175988
Answer: option E -Corporation
Explanation:
Corporation is the most effective form of business organization for raising capital
