DeGroot Limited conducts all its business in a province that has an 8% sales tax as well
Question:
DeGroot Limited conducts all its business in a province that has an 8% sales tax as well as the 5% GST, and both taxes are applied on the value of the product or service that is sold. Assume that all of DeGroot’s sales attract both types of tax. Prepare the summary journal entry to record the company’s sales for the month of July, during which customers purchased $37,000 of goods on account.
Fantastic news! We've Found the answer you've been seeking!
I am a graduate of Maseno University, I graduated with a second class honors upper division in Business administration. I have assisted many students with their academic work during my years of tutoring. That has helped me build my experience as an academic writer. I am happy to tell you that many students have benefited from my work as a writer since my work is perfect, precise, and always submitted in due time. I am able to work under very minimal or no supervision at all and be able to beat deadlines.
I have high knowledge of essay writing skills. I am also well conversant with formatting styles such as Harvard, APA, MLA, and Chicago. All that combined with my knowledge in methods of data analysis such as regression analysis, hypothesis analysis, inductive approach, and deductive approach have enabled me to assist several college and university students across the world with their academic work such as essays, thesis writing, term paper, research project, and dissertation. I have managed to help students get their work done in good time due to my dedication to writing.