Question: Please solve Solartech Inc. sells $ 4 0 0 , 0 0 0 ( sale price ) of products and collects a sales tax of

Please solve
Solartech Inc. sells $400,000(sale price) of products and collects a sales tax of 5%. What would Solartech put under current liabilities from this sale?
A) Sales Revenue $420,000
B) Sales Tax Payable $20,000
C) Interest Payable $20,000
D) Uneamed Revenue $420,000 this assp
Please solve Solartech Inc. sells $ 4 0 0 , 0 0 0

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!

Q:

These are queries that use the full Red Cat Database as shown in Figure 3.1. To do these queries you cannot use the SimplifiedSales database. You must use the full Red Cat tables of Customer, Sale,...

Q:

Conch Republic Electronics is a midsized electronics manufacturer located in Key West, Florida. The company president is Shelly Couts, who inherited the company. The company originally repaired...

Q:

Only fill the cells in yellow using formulas and provide explanations for the answers Problem 16-49 The audit staff of Adams, Barnes & Co. (ABC), CPAs, reported the following audit findings in their...

Q:

Please help me correct chap 4 red X marks . Note: This problem is for the 2019 tax year. Daniel B. Butler and Freida C. Butler, husband and wife, file a joint return. The Butlers live at 625 Oak...

Q:

Follow the excel file and check for wrong answer. Where these zero something is suppose to be there Conch Republic Electronics is a midsized electronics manufacturer located in Key West, Florida. The...

Q:

Problem 07-08 Algo (Assessing the Fit of the Simple Linear Regression Model) Question 2 of 5 Check My Work (2 remaining) Click on the datafile logo to reference the data. A-Z The Toyota Camry is one...

Q:

How to get C++ program to do correct output? PROGRAM : #include #include using namespace std; int main() { double cashDrawer = 500.00; int productID = 0; int quantity = 0; double price = 0.0; double...

Q:

Enment 2 The Toyota Camry is one of the best-selling cars in North America. The cost of a previously owned Camry depends on many factors, including the model year, mileage, and condition. To...

Q:

Please solve ALL parts of question Prepare consolidation spreadsheet for intercompany sale of equipment. Equity method Assume a parent company acquired its subsidiary on January , 2009, at a purchase...

Q:

Please show me how the calculations were done for each blue box which are the right answers. Thank you! Homework: Ch 11 HW Score: 0.29 of 1 pt 318 (6 complete P11-8 (similar to) Book value and taxes...

Q:

Find an analytic function w = f(z) that maps; The interior of the unit circle |z| = 1 onto the exterior of the circle |w + 1| = 5.

Q:

a. Using the free energy profile for a simple one- step reaction, show that at equilibrium K = kf/kr, where kf and kr are the rate constants for the forward and reverse reactions. Hint: Use the...

Q:

Return on assets and return on equity are examples of _ _ _ _ _ _ _ _ blank ratios.

Q:

You invested $4,500 in a mutual fund exactly 39 months ago when the NAV of the fund was $31.80. You have not acquired or sold any shares since that time. However, the fund paid a special distribution...