On March 25, 2014, Patton Company sold merchandise on account,$10,000. The applicable sales tax percentage is 8.5%. Record the transaction.

Answers

Answer 1

Answer:

Kindly see attached picture

Explanation:

Sales tax percentage= 8.5%

Sales = 10,000

Sales tax payable = 0.085 × 10000 = 850

Accounts payable = 10000 + 850 = 10850

Kindly see attached picture for journal entry

On March 25, 2014, Patton Company Sold Merchandise On Account,$10,000. The Applicable Sales Tax Percentage

Related Questions

Caterpillar tractors are made in the US. If Tractors Ltd., a company in Britain, wants to buy a tractor, it must pay for it in US dollars ($). But Britain's currency is the pound sterling (£). How would the British company complete the sale?

Answers

Answer:

Tractors Ltd. would pay an exchange fee to buy dollars with their pounds.

Explanation:

Foreign exchange involves the exchange of one currency for another during a transaction between two countries with different currencies.

In international trade a country like Britain for example will have to exchange it's currency (pound) for the dollar in order to complete the transaction that is in dollar.

This exchange usually attracts a conversion fee that is paid by the buyer in this transaction.

Discuss the rationale of organizing an industrial strike in resolving employee dispute with the state, focusing on the detrimental effects strikes has on various stakeholders in an economy.

Answers

Answer: The answer is provided below.

Explanation:

Strike is a refusal to work organized by body of employees as a way of protesting typically in an attempt to gain concessions from their employer.

Causes of strike include demand for leave with pay, pay increase,health hazards in the workplace, inadequate working tools, excessive working hours; low wages, discrimination, and aggressive behaviour of the managers towards employees.

Eben though there are potential benefits from strikes, like improved labor productivity, better work morale, or lower absenteeism, strike action brings about economic costs which can be high, depending on the duration, number of workers involved and also the divisions affected.

Strikes results in negative impacts on the employees, the employers, their stakeholders, consumers, the government, and the economy.

Furthermore, it also affects the international trade as it can hinder the economic development of a country and create great economic uncertainty especially when the global media continues to share details, videos and images of violence, damage to property and clashes between strikers and security.

The skills section of the resume should include skills that you've gained both in
school and hobbies but should be skills that are
to what the
employer is looking for.
unrelated
opposite
different
related

Answers

The correct answer is D. Related

Explanation:

When reading the résumé of a candidate, the employer always expects the candidate has skills and knowledge directly related to the job offer, because in most cases, these show the candidate will be able to adapt and work efficiently in the new job. For example, if an employer is looking for an architect the employer is more likely to select a candidate with experience and knowledge in the area. Due to this, every time you apply to a job offer your résumé should include skills that are directly related to the job offer or what the employer is looking for as this gives you more possibilities of being hired.

Question 14 (2 points)
Which career cluster involves hands-on occupations and possibly working outside?
Investigative
Realistic
Enterprising
Conventional

Answers

Answer: Enterprising

Explanation: Hands-on jobs are occupation that requires little education, it relate to the practice of learning from experience on the job rather than reading and learning from books. The career cluster of hands-on occupation includes; technicians, plumbers, woodwork, hygiene and catering workers etc.

Enterprising is characterized by great imagination and initiative with energetic to carry out work . Enterprising best fit hands-on career cluster.

Identify the careers that require a college degree and those that require technical training.
1. insurance sales agent
2. supply chain manager
3. office clerk
4. engine assembler
5. auditor
6. survey researcher
A. Technical Training
B. College Degree

Answers

Answer:

Some careers require college degrees whilst other require technical training. Careers requiring college degrees usually require one to have an in-depth theoretical as well as some practical knowledge of a subject such that the background knowledge would take years to learn.

Careers requiring technical training on the other hand are more practical in nature and as such do not require as much background knowledge and some training will be able to get the person into the career where they will then learn more as they do more.

College Degrees

Supply Chain Manager - they deal with the company's supply chain network and logistic strategies. This therefore requires a high degree of knowledge in data and processing, analytics, management strategies and the like.

Auditor - they ensure that company accounting is done in accordance with accounting standards and thus require in-depth knowledge in accounting.

Survey Researcher - they help conduct research for various subjects and have to deal with  interviews, focus groups, and the like. They will also have to analyze data which will require in-depth knowledge and training,

Technical training

Insurance Sales Agent - they sell insurance packages to people. This therefore needs only the knowledge of what the packages so and so requires technical training.

Office Clerk - they perform an array of jobs in the office including administrative and clerical tasks. This therefore requires training.

Engine Assembler - they construct engines by putting the different parts together and as this is more of a hands-on role, it requires more practical knowledge gained from technical training. However, there are some engines that will require knowledge of a degree level.  

100 POINTS PLEASE HELP!!! Designers consider both elements and principles of design when creating advertisement layouts. Research one element of design and one principle of design. Write a 5- to 10-sentence paragraph explaining how each might be used during the creation of an ad.

Answers

Answer:

Designers could use size in order to bring the most important aspects such as the message or product to the eye of those viewing the ad. Designers could also use color in order to showcase the most important products vs those apart of a collection. Designers could use harmony to bring the ad together and make it all seem as if it is one piece. Variety could also show that the designers have many different things to offer to the public.

Explanation:

Sorry, I tried my best, idk if this is what you are looking for?

Element of Design: One element of design that is used is value, which helps create shading texture when needed. This can help a substance seem "popped-out", and can be used to catch people's attentions. Design is important also in creating what can be seen by the naked eye, and what is placed on there can draw different people into seeing the product in their own eyes. Appearance can be appealing or even unappealing, in getting people to be interested & even talk about the design. Designers design something that is either aesthetically pleasing, or would catch a person's attention, and hopefully spread the word around. Examples of value can be shading, different shades of the same color, etc.

Principle of Design: One principle of design is harmony, which can make it feel wholesome or pleasing the a person. This is a very good way to draw people (especially a sect commonly known as perfectionists) to buy the product. The opposite can also be said, as the distortion can also draw people to buy the product. As long as the design appeals to potential buyers, it is worthwhile to use.

~

Miracle Company purchased treasury stock with a cost of $15,000 during 2013. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $866,000. Cash flows from financing activities for 2013 total:



A. $846,000 net cash inflow.


B. $831,000 net cash inflow.


C. $861,000 net cash inflow.


D. $866,000 net cash outflow.

Answers

Answer:

The correct answer is option (b) $831,000 net cash inflow.

Explanation:

Solution

Recall that:

Company miracle bought stock treasury with a cost of = $15,000

Dividends paid =  $20,000

Bond issued =$ 866,000

Now,

The cash flow from financing activities is calculated as follows:

Bonds payable -Purchased treasury stock - Dividend paid

$866,000 - $15,000-$20,000

= $831,000

Therefore, The net cash flow is $831,000

Which statement is true?

A.
Taxes are higher on short-term investments than long-term investments.
B.
Short-term investments are less prone to price volatility than long-term investments.
C.
Short-term investments require greater diversification than long-term investments.
D.
Short-term investments incur lower transaction fees than long-term investments.
E.
Short-term investments have a higher inflationary risk than long-term investments.

Answers

Answer:

c

Explanation:

plato

The actual statement is that taxes are higher on short-term than long-term investments. Thus the correct option is C.

What is Investment?

A purchase made for the purpose of earning money or appreciating in value is known as an investment. The investor will make a long-term profit from their investment in any asset or object.

When short-term investments are made for shorter periods of time with lower returns, they are subject to higher tax rates since they are taxed at the investor's regular income tax rate.

Long-term investments are taxable at an amount that is often lower than ordinary income tax rates since they are subject to long-term capital gains taxation.

The investor must retain the property for more than a year in order to be eligible for this lower rate, which is understood to represent a higher investment with higher risk and higher return.

Therefore, option C is appropriate.

Learn more about Investment, here:

brainly.com/question/15353704

#SPJ7

Darin was promoted, but it meant leaving the bustling city life he loved and moving to a different state in a quiet part of the country. It would also mean that his wife will have to leave her present job and search for a new job. Darin's reluctance best exemplifies the:


A. avoid-avoid inner conflict.B. approach-avoid inner conflict.C. approach-approach inner conflict.D. irrational belief system.

Answers

A is The answer

Hopefully this help

Reluctance is the unwillingness or hesitation to perform or do some task. His reluctance best exemplifies avoid-avoid inner conflict.

What is conflict?

Conflict is a feeling or idea of disagreement and dispute on some serious matter with someone. It can be solved to avoid further brawls.

He wants to avoid the inner conflicts he is going through because of his new posting the wife will be affected and this tension can lead to some tension between them.

Therefore, option A. avoid-avoid inner conflict best exemplifies the situation.

Learn more about the conflict here:

https://brainly.com/question/7249075

The percentage of the US labor force that is unemployed is known as the __________.

A.
consumer price index
B.
gross domestic product
C.
national unemployment rate
D.
annual percentage change




Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

Explanation:

C

Answer:

C. national unemployment rate

Explanation:

i did the quiz, hope this helps<3!!

how do you get into Harvard law school​

Answers

a gpa of 4 and above a good score is the sat a good student in the course before pursuing before the law good recommendations and any other talents you have

what is product placement

Answers

Answer: A practice in which manufacturers of goods or providers of a service gain exposure for their products by paying for them to be featured in movies and television programs.

Explanation:

Explanation:

Product placement Is where a company or seller places a product In a certain location so that the consumer Is more apt to buy that product, such as a candy bar or pack of gum near the cash register, leading the consumer to an impulse buy.

Henry, a trainer at MyChem Inc., schedules training on handling hazardous chemicals for a group of newly hired employees. The training complies with OSHA regulations and is given to all employees upon hire along with periodic refreshers. The type of training described in this scenario is _____.

Answers

Answer:

Hazard Communication Standard  (HCS) training program

Explanation:

The type of training described in this scenario is known as the  Hazard Communication Standard  (HCS) training program. This is a employee training program designed with the goal of explaining and reinforcing the written information regarding hazard labels and material safety data sheets, as well as how to behave around hazardous material and to apply this information to their workplace.

The cost of a secured loan is typically lower than the cost of an unsecured loan because

Answers

Secure loans are less riskier than unsecured loan because Secure loans are backed by a collateral.

During red's time as head of the bank of bramblewood, the bank offered three services: time deposits, demand deposits, and home and business loans. under patty's leadership, the bank offers those same services, a variety of investment opportunities such as mutual funds and bonds, and ___________ through the internet, which supports a number of services such as paying bills directly from customers' accounts, direct deposit, and transferring money.

Answers

Answer:

Online Banking

Explanation:

Based on the information provided within the question it seems that the bank is offering Online Banking to it's customers. This is the ability for the customer to be able to handle most of - if not all - the banks services remotely through the internet by going to their online platform. Almost all banks offer this service as it allows for much greater convenience as opposed to having to go to the banks location and standing in line.

Which formula is NOT correct?
A) COGS=COGAS-EI
B) BI=COGS+EI-P-FI
C) EI=BI+P+FI-COGS
D) COGAS=BI+P+FI

Answers

Answer:

Explanation:

The answer is d the correct formula is COGS=BI+P+FI

Why does the US import oil?

A.because it has exported too much oil
B.because it does not produce any oil
C.because it does not produce enough oil
D.because it has exported too little oil


Answers

Answer:

C. because it does not produce enough oil.

Explanation:

Although, the United States is one of the leading producers of oil, yet still import oil because it does not produce enough oil to meet the demand of its citizens. In other words, the United States consumes more than what she can produce.

Another reason is that most refineries in the United State are created basically for heavy crude whereas most of what she produce are light crude oil. The United States import the oil she is able to process while she export to other countries to complete the setup process.

The remedy to the above situation is when new refineries are built which are somewhat expensive or the existing refineries are upgraded to meet with the demand.

Answer:

D. Because it does not produce enough oil.

edg 2020.


Using the data, calculate the percentage change in quantity demanded following a £3 increase in the price
of salt pipes. You are advised to show your working,

Answers

Answer:

idk sry

Explanation:

PLEASE!!!
Which of the following is an example of economic globalization?


A. a chicken farm supplying eggs to the neighboring village

B. a mobile grocery selling organic food across New York City

C. an on-demand beauty salon that provides home service

D. a Japanese store selling tea and spices from South Asia

Answers

Answer:

The example that represents economic globalization is:

D. a Japanese store selling tea and spices from South Asia

Explanation:

The reason behind this answer is that globalization is the concept designed to understand the economic activity of a certain country outside its borders and engaging commercial activities in its zone with different countries or in zones further away. Then, because they are doing business around the globe they are doing a globalization economy.

what is our role in taking care of earth? *idk how to start a sentence*​

Answers

Answer:

Our earth is a nice place and to keep it nice we need to do these things: and so on

What are the advantages of crème makeup over pancake makeup?

Answers

Answer:

Explanation:

Pancake makeup is the trademarked name held by the Noxell Corporation for a cosmetic face powder that has been compressed into a cake and is applied as a make-up base with a damp sponge. Great for All Skin Types. Because Cream foundation works well on all skin types it will answer the question whether it is right for you. .. So both are great for skin depending on what brand or kind

Answer:

       Pancake makeup is the trademarked name held by the Noxell Corporation for a cosmetic face powder that has been compressed into a cake and is applied as a make-up base with a damp sponge or beauty blender.

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