A normal balance is the side of an account that is increased
Indicate whether the statement is true or false
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Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $10,000 of cash sales that are subject to an 10% sales tax, what is the journal entry to record the cash sales?
A. Debit Sales Taxes Payable $1000; debit Cash $9000; credit Sales $10,000. B. Debit Cash $10,000; credit Sales $10,000; and record the taxes when paid. C. Debit Accounts Receivable $11,000; credit Sales $10,000; credit Sales Taxes Payable $1000. D. Debit Cash $10,000; credit Sales $9000; credit Sales Taxes Payable $1000. E. Debit Cash $11,000; credit Sales $10,000; credit Sales Taxes Payable $1000.
A publicly held corporation is one that is both (a) owned by at least 50 shareholders and (b) required to register under the Federal Securities and Exchange Act of 1934
Indicate whether the statement is true or false
We have obtained access to the company's operational data. We have been asked to produce a report with an item by item analysis of sales, but the only sales figure available is the total sale value for each order. This is an example of ________
A) dirty data B) inconsistent data C) nonintegrated data D) a "wrong format" problem
A company must include in its proxy materials the names of all shareholder nominees for the board of directors
Indicate whether the statement is true or false