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When you purchase an item in a store you may be charged by Sales tax. It is <span>a tax on sales or on the receipts from sales.</span>
Answer:
unit of account, a store of value, and a medium of exchange.
Explanation:
Functions of money
1. Medium of exchange : money can be used to exchange for goods and services. For example, money serves as a medium of exchange when you pay $20 for your favourite jeans
2. Unit of account : money can be used to value goods and services, For example, $20 is the value of your favourite jeans
3. Store of value : money can retain its value over the long term, this it can be used as a store of value
Answer:
The Designer Journal Entry
Date General Journal Debit Credit
July 31 Unearned Revenue $7,500
Design Services Revenue $7,500
Answer:
The answer is D.
Explanation:
Gross profit or margin is the profit a business generate after deducting cost of sales from its sales or revenue.
Gross profit or margin percentage is expressed as gross profit/sales(revenue) x 100
In the question, gross profit for company A is $400 and sales is $1000
Therefore, gross profit percentage is 400/1000 x 100
=40%
