Andre Company does not segregate sales and sales taxes when it charges customers at the register. Its register total for a given day is $5,724, which includes a 6% sales taxes. How much should be recognized as sales revenue and sales taxes payable, respectively?
a. $5,000 and $724
b. $5,437.80 and $286.20
c. $5,381 and $343
d. $5,400 and $324
e. $5,724 and $0
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Andre Company does not segregate sales and sales taxes when it charges customers at the register. Its register total for a given day is ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Olive Enterprises experienced the following events during 2012. 1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note. 3. Sold land for cash at an amount equal to its cost. 4.
Answers (1)
Flow of Accounts into Financial Statements The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet.
Answers (1)
Butterfly Technologies produces touch-enabled wearable devices. Its research and development team recently became aware of a new, open-source technology produced by a firm overseas that would improve the processing speed and battery life of all
Answers (1)
Consider Larry's decision to go to college. If he goes to college, he will spend a total of $120,000 on tuition, $30,000 on room and board, and $3,500 on books over four years.
Answers (1)
An elderly customer has a discretionary account with your firm. The power of attorney signed by the customer for the account is durable. If the customer becomes mentally incapacitated, the registered representative handling the account:
Answers (1)
New Questions in Business
On January 1, Gucci Brothers Inc. started the year with a $708,000 balance in Retained Earnings and a $598,000 balance in common stock.
Answers (1)
Profit, Revenue, and Total Cost Think about an artist who owns her own business. Match each term with the example from her business that best fits that term.
Answers (2)
For all of the following questions, refer to the following table, which gives financial information for Apple for fiscal year 2002 (in millions) : Sales $5,742 Cash (includes marketable securities) $4,337 Cost of Sales 4,139 Accounts Receivable 565
Answers (1)
A company records the fees for legal services paid in advance by its clients in an account called Unearned Legal Fees.
Answers (2)
Sand, Inc. has outstanding $5,000,000, 10%, 20-year bonds. The bonds are callable at 104 on any interest date. The bonds were issued at par and mature in 10 years.
Answers (1)