What is the amount of the sales taxes owed to the taxing, Accounting Basics

+44 141 628 6080
[email protected]

What is the amount of the sales taxes owed to the taxing

A retail store credited the Sales Revenue account for the sales price and the amount of sales tax on sales. If the sales tax rate is 5% and the balance in the Sales Revenue account amounted to $525,000, what is the amount of the sales taxes owed to the taxing agency?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the amount of the sales taxes owed to the taxing

Reference No:- TGS0705768

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Compute the equivalent cost per unit for labor

A company uses the FIFO method for inventory costing. During a period, a production department had 20,000 units in beginning goods in process inventory which were 40% complete; the department completed and transferred 165,000 units.

Q : What is the carrying value of the machine at the end

GreenGrass Company purchased a master mulching machine for $240,000 with a 5 year life and a $15,000 salvage value. GreenGrass uses straight-line depreciation.

Q : What is the journal entry to record this exchange

Wallace Corporation issued 3,000 shares of $10 par value common stock in exchange for a giant water slide valued at $92,500. Since all company stock is privately held, there is no market value for the stock.

Q : Discuss the ethical and professional conduct of joshua

Joshua Thorp opened Laser Co. on January 1, 2011. At the end of the first year, the business needed additional funds. On behalf of Laser, Joshua applied to Vermont National Bank for a loan of $500,000.

Q : What is the amount of the sales taxes owed to the taxing

Q : How many months will it take to deplete the balance

Assume that you deposited $100,000 in a savings account paying an interest of 12% per year, compounded monthly. You wish to withdraw $3000 at the end of each quarter.

Q : Calculate the t score based on the data

The average health care costs per year for a sample of U.S. cities (50,000~200,000 population) are $586. U.S. Department of Health and Human Services has funded several HMOs. Ten [n= 10] samples show the Sample Mean: $521.30, s = $55.80, s.e.=17.6

Q : Explain largest contribution margin to the buying division

A revenue that differs between alternatives and makes a difference in decision-making is called a(n):The transfer price approach that will result in the largest contribution margin to the buying division is the:

Q : How would these asset appear on the balance sheet

On January 1, Pete bought a used truck for $14,000. He added a tool chest and side racks for ladders for $4,800. The truck is expected to last four years and then be sold for $800. Pete uses Straight-line depreciation.

1948768

Questions
Asked

3,689

Active Tutors

1456523

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the amount of the sales taxes owed to the taxing

Reference No:- TGS0705768

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Compute the equivalent cost per unit for labor

Q : What is the carrying value of the machine at the end

Q : What is the journal entry to record this exchange

Q : Discuss the ethical and professional conduct of joshua

Q : What is the amount of the sales taxes owed to the taxing

Q : How many months will it take to deplete the balance

Q : Calculate the t score based on the data

Q : Explain largest contribution margin to the buying division

Q : How would these asset appear on the balance sheet

What is the difference between direct and indirect democracy

Discuss legal provision for paid menstrual leave in japan

Provide thorough and efficient system of public education

What reforms was not performed by director james lee witt

Need for a change in the legal environment

What when talking about al qaeda and hezbollah

Types of government from highest to lowest levels of citizen

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the amount of the sales taxes owed to the taxing

Reference No:- TGS0705768

Recent Questions Asked Accounting Basics

Q : Compute the equivalent cost per unit for labor

Q : What is the carrying value of the machine at the end

Q : What is the journal entry to record this exchange

Q : Discuss the ethical and professional conduct of joshua

Q : What is the amount of the sales taxes owed to the taxing

Q : How many months will it take to deplete the balance

Q : Calculate the t score based on the data

Q : Explain largest contribution margin to the buying division

Q : How would these asset appear on the balance sheet

Asked Questions