Stine Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax collected. Stine Co. records the sales tax in the Sales account. The amount recorded in the Sales account during May was $148,400.

Answers

Answer 1

Incomplete Question,  The omitted is

a)What is the amount of sales taxes (to the nearest dollar) for May and

b)The amount of sales taxes payable (to the nearest dollar) to the state for the month of May is

Answer: Sales tax =$8,400

sales taxes payable=$8,232

Explanation:

a)  Sales tax = (Sales Revenue x percentage of sales tax) / 100+  percentage of sales tax

= ($148,400 x 6%) / 100+6 =$148,400 x 6%)/106%= 8904/1.06 = $8,400

 Sales tax =$8,400

The retailer is allowed to keep 2%, Therefore

b)sales taxes payable= Sales tax  x (100-2%)= $8400 x 98%= $8,232

Answer 2

Answer:

Sales tax =$8,400

sales taxes payable=$8,232


Related Questions

Barnes & Noble and Amazon would be considered a(n) _______ because they sell similar products. Question 4 options: strategic group oligopoly overlapping group customer group

Answers

Answer:

oligopoly

Explanation:

Your answer will be oligopoly

How many 1/2 are there in 6?​

Answers

Answer:

[tex]\boxed{12}[/tex]

Explanation:

Hey there!

To find the amount of 1/2’s in 6 we will divide,

6 / 1/2

= 12

So there are 12, 1/2’s in 6.

Hope this helps :)

There are 6 half’s.
Her

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Which one of the following duties is management's responsibility to ensure food safety?
The elimination of critical control points
The business practices of other restaurants
• Treatment of food-borne illnesses
Preventing infected employees from contaminating food

Answers

Answer:

The answer is Preventing infected employees from contaminating food

Answer: Preventing infected employees from contaminating food

Practice Question 25 Which one of the following is an effective method of evaluating a cost center? Compare actual total costs with flexible budget data. Compare actual controllable costs with static budget data. Compare actual controllable costs with flexible budget data. Compare the actual profit generated with expected profit.

Answers

Answer:

C). Compare actual controllable costs with flexible budget data.

Explanation:

The Cost center is very crucial to be determined by an organization as it indirectly bestows its profitability. It is usually calculated by comparing the actual cost generated by the department to the expectations as per the budgeted cost. Thus, the most constructive method to evaluate a cost center would be the 'comparison between the actual controllable costs and the flexible budget data' as it helps in assessing the actual expense incurred during the year and whether it is lesser or greater than the cost estimated in the budget. Hence, option C is the correct answer.

Yo that’s crazy keep working

Inventories do not include $15,000 of merchandise that was in transit on December 31, which was sold to a customer with terms f.o.b. destination. The inventory reached the customer on January 5, 2020 Inventories also do not include $20,000 inventory that was received by Royale Ltd. for consignment. Explain whether the 2 inventory items mentioned should be included or excluded from Cameron Corp.’s inventory and why?

Answers

Answer:

They both have to be included in the inventory

Which of these is the biggest challenge to saving money? Employer incentives Advertising campaigns Instant gratification Social and cultural influences

Answers

Answers:

Social and cultural influences

Explanation:

The biggest challenge to saving money is Social and cultural influences because social and cultural influences public to participate or disallow decisions made by corporations that affect the budget.

Social and cultural influences can not me measured accurately and it may change according to the change in social and cultural behavior, so money required for social and cultural influences can not be predicted accurately and biggest challenge to saving money.

Hence, the correct option is "Social and cultural influences"

Answer:

instant gratifications

Explanation:

social and cultural is wrong because I tried that one already

Aryn is a music fan, and she enjoys learning about how speakers and sound systems are wired. She is reading books about electrical circuits, and she has decided she would like to work as an electrician on construction projects to help build new homes. However, she does not want to go to school for very long after finishing high school. What type of training would best prepare Aryn for working in construction without needing many years in school? an apprenticeship done on the job a bachelor’s degree in engineering a physics class during her last year of high school an after-school program about power tools

Answers

Answer:

An apprenticeship done on the job

Apprenticeship since that’ll give her more real life experience as compared to the other options, which are mostly academia related
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