Answer:
capital gain tax liability
Explanation:
Capital gain tax is defined as the type of tax that is paid when the owner of an investment or asset makes a profit from its sale.
For example when the assets are sold for more than the book value but less than the original purchase price, there is a profit made that is called capital gain.
The tax applied to this capital gain is called capital gain tax liability.
I would say just stop being around them and don't speak or talk about them if u dont wanna be they topic
Answer:
June 3
Account Receivable $7,000 (debit)
Service Revenue $7,000 (credit)
June 8
Cash $4,500 (debit)
Discount allowed $500 (debit)
Accounts Receivables $5,000 (credit)
November 15
Bad Debt $1,500 (debit)
Accounts Receivables $1,500 (credit)
Explanation
The above transactions must be adjusted as they affect our transactions at the reporting date. Remember to grant the cash discount on early settlement of the payment made on June 8. The policy of sales on account is on the terms of 2% cash discount on payments made within 10 days.
Answer:
irrelevant
Explanation:
Irrelevant informations are information that are provided but could not solve the problem on ground.
From the above case, I'm looking for a home to buy and cost must not be more than $700,000, instead for my real estate agent to look for home that the cost are lower than or equal to $700,000, rather the agent started sending me fliers containing information of home cost more than $700,000.
Answer:
b. $2,616
Explanation:
Missing word <em>"Total receipts for February amounted to $46216. If the sales tax rate is 6%, what amount must be remitted to the state for February's sales taxes? O $2773 O "</em>$2616 O $2608 O It cannot be determined.
Sales tax = Total receipt * Tax rate
Sales tax = Total receipt * 6/106
Sales tax = $46,216 * 6/106
Sales tax = $2,616
So, the amount that must be remitted to the state for February's sales taxes is $2,616.
