Question: Select all in Simms Accountants charged a client $2,000 cash plus tax for services provided in a state where the service sales tax rate is
Select all in Simms Accountants charged a client $2,000 cash plus tax for services provided in a state where the service sales tax rate is 6%. As a result of this event, the sales tax liability account increases by $120 cash account increases by $2,120 revenue account increases by $2,120 cash flow from operating activities is not affected
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
