Question: A retail store does not segregate sales and the amount of sales tax on sales. If the sales tax rate is 4% and the register

A retail store does not segregate sales and the amount of sales tax on sales. If the sales tax rate is 4% and the register total amounted to $325000, what is the amount of the sales taxes owed to the taxing agency? $325000$13000$312500$12500 eTextbook and Media

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

List examples of how temperature regulation contributes to behaviors.

A retail store does not segregate sales and the amount of sales tax on sales. If the sales tax rate is 4% and the register total amounted to $299000, what is the amount of the sales taxes owed to the...

Interest expense on an interest-bearing note is? ........only recorded at maturity when the note is paid. .........always equal to zero. ........accrued over the life of the note. only recorded at...

Please help me with these Crane Company issues 2000, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a O credit to Premium on Bonds Payable...

A retail store does not segregate sales and the amount of sales tax on sales. The sales tax rate is 7% and the register total amounted to $305,000. Calculate the amount of the sales taxos owed to the...

A retail store does not segregate sales from the amount of sales tax on sales. If the sales tax rate is 4% and the register total amounted to $282100, what is the amount of the sales taxes owed to...

estion 31 yet wered HP Company purchased equipment on January 1 at a list price of $127,000, with credit terms 2/10, n/30. Payment was made within the discount period and Yocum was given a $21,400...

35. Carol Jones's regular rate of pay is $37 per hour with one and one-half times her regular rate for any hours which exceed 36 hours per week. She worked 46 hours last week. Therefore, her gross...

A retail store does not segregate sales and the amount of sales tax on sales. If the sales tax rate is 11% and the register total amounted to $156,500, what is the amount of the sales taxes owed to...

Multiple Choice Question 52 Watunga County Bank agrees to lend Bramble Granite Company $612000 on January 1. Bramble Granite Company signs a $612000, 9%, 10-month note. The entry made by Bramble...

A retail store does not segregate sales and the amount of sales tax on sales. The sales tax rate is 6% and the register total amounted to $254,000. Calculate the amount of the sales taxes owed to the...

Using the previous two assignments (create a balance sheet and create an income statement), analyze the financial situation with ratios. After analyzing your financial statements, use the attached...

Let r = 0.08, S = $100, = 0, and = 0.30. Using the risk-neutral distribution, simulate 1/S1. What is E(1/S1)? Compute forward price for a contract paying 1/S1?

As Chief Financial Officer of her organization, Annelise examines different financial statements to evaluate her company's overall financial health. One of the statements Annelise reviews is a...

4. It has been said that net neutrality is the most important issue facing the Internet since the advent of the Internet. Discuss the implications of this statement. What kind of Internet user are...

Youll advertise your position in the local newspaper(s), with area post-secondary schools, in newsletters circulated to members of the Professional Womens Network (see Part 5 feature) and similar...

The career fair was a very positive experience. Prepare the text of an e-mail thanking Sarah for suggesting you attend (sking09@redriver.edu).