Carla Vista Industries has total sales of $132000 and sales taxes collected totaling $9240 based on a
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Question:
Carla Vista Industries has total sales of $132000 and sales taxes collected totaling $9240 based on a 7% tax rate during June. Carla Vista submitted $5100 of the taxes to the State before the end of June. Which one of the following will be reported on Carla Vista’s financial statements at the end of June?
Sales Taxes Payable for $4140
Sales Tax Expense for $9240
Net sales for $136140
Sales for $141240
Related Book For
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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