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
zhannawk [14.2K]
3 years ago
12

Target Shoppers Inc. reported cash sales of $16,200 for the month of June 2020. Sales taxes payable are recorded at the point of

sale. a. Assume that sales of Target Shoppers Inc. are subject to a 5% sales tax. Record the sales entry. b. Now assume that the cash collected on sales includes the 5% sales tax. Record the sales entry. Note: Round your answers to the nearest whole dollar. Note: List multiple debits or credits (when applicable) in alphabetical order.
Business
1 answer:
Usimov [2.4K]3 years ago
4 0

Answer:

17000

Explanation:

17000

You might be interested in
Alex paid $600 to Rita, his ex-wife, for child support. Under the terms of the divorce decree, Alex claims the dependency exempt
dsp73

Answer:

$0

Explanation:

Since Alex's child does not live with him for at least 6 months plus one day, he doesn't qualify for any income credit.

Alex himself cannot claim the earned income credit for an individual without a qualifying child because he is just 24 years old, and you must me at least 25 years old to qualify.

7 0
4 years ago
While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only______ of
goblinko [34]

Answer:

(i) 5

(ii) Option (A) is correct.

(iii) Open market operations; sell

Explanation:

(A) The Federal Open Market Committee consists:  

(i) 7 members of the Board of Governors  

(ii) 5 of the 12 regional bank presidents

Therefore, only 5 of the regional bank presidents are the members of FOMC.

(B) The fed is lender of last resort to the banks in the united states which don't have any other source of borrowing.

(C) Open market operations refers to the buying and selling of government securities to the public. The central bank of a particular nation uses open market operations as a monetary policy instrument for controlling money supply.

If the fed wants to decrease the money supply in the economy, then it must sell the government bonds to the public. Hence, there is a reduction in the money supply.

5 0
3 years ago
True or false, general revenue sharing grants give states the most discretion as to how to spend the money.
ioda
I think the answer is true although i'm not sure. please go back to your lesson and check, everything says there. I'm guessing you are home-schooled so just go through the lesson while doing the test, this way you will know for sure that you got everything right.
8 0
4 years ago
EA12.
BaLLatris [955]

Answer:

$38,400

Explanation:

<em>1. Cash Purchases:</em>

The total purchases in the month of March is of $35,000.

It is given that 70% of Purchases are for cash.

Hence, 70% of $35,000 would be;

$39,000 x 0.70

$27,300

<em>2. Credit Purchases: </em>

Remaining Balance of Purchases from the month of February:

For the month of February Cash Purchases can be calculated as follows;

$37,000 x 0.70

$25,900

Remaining Balance to be paid in March for the month of February can be calculated as follows;

$37,000 - $25,900

$11,100

<em>3. CASH PAYMENT for PURCHASES in MARCH:</em>

Cash Purchases = $27,300

Credit Purchases = $11,100

Hence;

<em>Cash Payment for purchases in March = Cash Purchases + Credit Purchases </em>

Cash Payment for purchases in March = $27,300 + $11,100

Cash Payment for purchases in March = $38,400

7 0
4 years ago
If a seller facing excess demand is unable to raise the price of the good due to a price ceiling, a likely result will be:
Anuta_ua [19.1K]

A likely result will be a decrease in the quality of a product.

The fee ceiling is a state of affairs while the price charged is greater than or less than the equilibrium fee decided with the aid of market forces of demand and deliver. It's been found that higher price ceilings are useless. price ceiling has been discovered to be of extraordinary importance within the residence rent marketplace.

A price ceiling is a legal maximum rate that one will pay for some good or carrier. A government imposes rate ceilings as a good way to preserve the price of some necessary precise or services low-cost. as an example, in 2005 at some stage after Hurricane Katrina, the price of bottled water expanded above $five according to the gallon.

A rate ceiling continues a fee from growing above a sure level (the “ceiling”), even as a fee ground continues a rate from falling underneath a given degree (the “ground”). This phase uses the call for and delivers a framework to research price ceilings. the following section discusses rate flooring.

Learn more about the price ceiling here brainly.com/question/1448982

#SPJ4

3 0
2 years ago
Other questions:
  • How do firms examine productivity?
    12·1 answer
  • LLP Company had the following stockholders’ equity as ofJanuary 1, 2017.
    8·1 answer
  • Mark works strictly on commission of his gross sales from selling two different products for his company. last​ month, his gross
    5·1 answer
  • Jackson is a 30 percent partner in the JJM Partnership when he sells his entire interest to Rhonda for $112,000 cash. At the tim
    15·1 answer
  • carlos marx divide el capital en: A) viriable y fijo B) circulante y giratorio C) variable y constante D) variable y mixto E) pr
    6·1 answer
  • "Product planners need to think about products and services on three levels. The most basic level is the ________, which address
    7·1 answer
  • Companies HD and LD have the same total assets, sales, operating costs, and tax rates, and they pay the same interest rate on th
    14·1 answer
  • Threads Inc., an apparel manufacturer, employs personal selling to market goods. Its employees handcraft products that are then
    15·1 answer
  • On 1/1/27, Frankfort Company sold 100 components at $700 each. All sales were cash sales. Estimated total cost servicing the com
    12·1 answer
  • The income statement of Pharoah Company is shown below.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!