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Problem - Sales tax - A sale of merchandise on account for $36,000 is subject to an 8% sales tax.
(a) Should the sales tax be recorded at the time of sale or when payment is received?
(b) What is the amount credited to Sales?
(c) What is the amount debited to Accounts Receivable?
(d) What is the account to which the $2,880 ($36,000 × 8%) is credited?
How to Find and Calculate the cost per cuddly koala for job number A26. The job required $4,850 of direct material and 32 hours of direct labour.
Zana Tech ,The cafeteria budgeted at $144,00 for the year. What amount of cafeteria cost will be allocated to engraving department?
The following information provides the amount of cost incurred in May for the cost items indicated. During May 16,000 units of the firm's single product were manufactured.
The future value in three years of $1,000 deposited today in a savings account with interest compounded annually at 8 percent
By using a new supplier, If the company decides use the new supplier, what dollar sales is required to attain a target profit of $261,000?
The Heartland Delivery Service, What is the best estimate of fixed costs for fleet operating expenses in 2017 using the high-low method?
Examine the main reasons service companies are more sensitive to labor and price variances, as compared to material price variances
Make the household budget for October based on the following information: 5% increase in Salary 1 10% decrease in Salary 2 7.5% increase
Identify events as asset source asset use (ua) asset exchange or claims exchange Prepare an income statement, a statement of changes in stockholders equity, a balance sheet and a statement of cash flows.
Demonstrate What was the company net profit for the previous year? What will the new break-even point be if fixed costs increase by 10 per cent?
'Total net assets' figure in a balance sheet is often a poor indicator of the market value of a business. Do you support this statement and explain why?
Assuming that the company has no alternative use for the facilities now being used to produce the switch, should the outside supplier's offer be accepted?
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