Barter, Inc. sold goods for $883,500 on account. The company operates in a state that imposes a 9% sales tax. What is the amount of the sales tax payable to the state?
A) $79,515
B) $39,758
C) $19,879
D) $159,030
A .Accounts Receivable 963,015
Sales Revenue 883,500
Sales Tax Payable ($883,500 x 9%) 79,515
You might also like to view...
The salesperson who uses the cold canvass prospecting method usually knows something about the prospect.
Answer the following statement true (T) or false (F)
Consider the data in problem 2 and perform a scenario analysis using the percentages of change for the same uncertain variables and the probabilities for each scenario given in the following table:
a) Determine the payback period, discounted payback period, NPV, PI, IRR, and MIRR of this project under each scenario.
b) Determine the expected NPV, PI, and IRR, and the corresponding standard deviation, coefficient of variation, and the probability of a negative NPV, a PI equal to 1, and an IRR equal to the firm’s IRR.
c) Perform a Monte Carlo simulation with 1,000 trials to determine the expected NPV. Also determine the standard deviation of the expected NPV. The uncertain variables and their probability distributions are given in the following table:
d) Create a histogram using the Histogram chart type, showing the probability distribution of NPV.
e) Using the output of the simulation, determine the probability that the NPV will be less than or equal to zero. Compare your results with those of part (a).
The major difference between a true loss leader and bait-and-switch advertising is based on _____
a. the legality of the strategy b. whether sufficient customer traffic is generated c. whether the good or service is sold in sufficient quantities d. whether other retailers are injured
Which of the following is true of a minor's right to disaffirm a contract?
A) A minor must reach the age of majority to disaffirm a contract. B) Contracts that come under the necessaries of life can be disaffirmed by minors. C) Minors are exempt from duty of restoration during the period of minority. D) A minor can expressly disaffirm a contract orally or in writing.