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Fed [463]
3 years ago
11

The Saturn Company records all collections from customers (including 5% sales tax) in the Sales Revenue Account. The account bal

ance for 2025 is $100,000. Saturn's 12/31/25 Sales Tax Payable will be:
Business
1 answer:
iris [78.8K]3 years ago
8 0

Answer:

$5,000

Explanation:

Calculation for what the Sales Tax Payable will be:

Sales Tax Payable=5% sales tax*Account balance $100,000

Sales Tax Payable=$5,000

Therefore the Sales Tax Payable will be: $5,000

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Which of the following would you list as an "Essential (Fixed)" expense?
11Alexandr11 [23.1K]

Out of the above choices I would Asnwer. D Rent. Rent is an Essential (fixed) expense. The other expenses electricty, telephone and car repair are all variable expenses because they normally are net set rates every month. Due to the changng of amounts these expenses fluxtuate not allowing thme to be a fixed expense like rent is.

4 0
3 years ago
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A fee is paid a. for each overdraft. c. monthly to have overdraft. b. for the first overdraft. d. annually to have overdraft.
larisa [96]
B. for the first overdraft
3 0
3 years ago
TRUE/FALSE?
horrorfan [7]

Answer:

true, defiantily true

Explanation:

if this helps can i have brainliest when u get the chance...thnx

5 0
2 years ago
Read 2 more answers
Cost of goods sold is given by:
icang [17]

Answer:

b. Net Purchases + beginning inventory - ending inventory.

Explanation:

The formula to compute the cost of goods sold is shown below:

Cost of good sold = Beginning inventory + net purchase - ending inventory

We simply added the net purchase and deduct the ending inventory to the beginning inventory so that the correct value can be determined

It records that cost which is directly related to the product that means it excludes the indirect cost

8 0
2 years ago
Five thousand bonds with a face value of $1000 each, are sold at 110. The entry to record the issuance is
Contact [7]

Answer:

Date, bonds sold at a premium

Dr Cash 5,500,000

    Cr Bonds payable 5,000,000

    Cr Premium on bonds payable 500,000

Explanation:

The total face value of the bonds is $1,000 x 5,000 bonds = $5,000,000

since the bonds were sold at 110, their price was $5,000,000 x 110% = $5,500,000

the difference between the face value and the actual market price = $5,500,000 - $5,000,000 = $500,000 must be recorded as premium on bonds payable (increases the bonds' carrying value)

4 0
3 years ago
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