Gem Corp. had cash sales of $10,000. The state sales tax rate is 10.8%. What amount is debited to the Cash account?
A) $10,000
B) $11,080
C) $1,080
D) $1,000
B .Cash 11,080
Sales Revenue 10,000
Sales Tax Payable (10.8% x $10,000 ) 1,080
You might also like to view...
Manufacturers view point-of-purchase (POP) displays as a method to get a brand more prominently displayed before customers in retail stores
Indicate whether the statement is true or false
Design consultants could use this type of interview format to assist homeowners having a difficult time selling a property.
a. performance interview b. selection interview c. exit interview d. helping interview
Which of the following groups generally is charged with creating value through the process of organizing, coordinating, and leveraging employees as well as other forms of capital such as plant, equipment, and financial capital?
A. boards of directors B. stakeholders C. unions D. managers
A new marketing strategy often upsets established ways of doing things in the organization.
Answer the following statement true (T) or false (F)