Stine Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax collected. Stine Co. records the sales tax in the Sales account. The amount recorded in the Sales account during May was $148,400.

Answers

Answer 1

Incomplete Question,  The omitted is

a)What is the amount of sales taxes (to the nearest dollar) for May and

b)The amount of sales taxes payable (to the nearest dollar) to the state for the month of May is

Answer: Sales tax =$8,400

sales taxes payable=$8,232

Explanation:

a)  Sales tax = (Sales Revenue x percentage of sales tax) / 100+  percentage of sales tax

= ($148,400 x 6%) / 100+6 =$148,400 x 6%)/106%= 8904/1.06 = $8,400

 Sales tax =$8,400

The retailer is allowed to keep 2%, Therefore

b)sales taxes payable= Sales tax  x (100-2%)= $8400 x 98%= $8,232

Answer 2

Answer:

Sales tax =$8,400

sales taxes payable=$8,232


Related Questions

Which of these is the biggest challenge to saving money? Employer incentives Advertising campaigns Instant gratification Social and cultural influences

Answers

Answers:

Social and cultural influences

Explanation:

The biggest challenge to saving money is Social and cultural influences because social and cultural influences public to participate or disallow decisions made by corporations that affect the budget.

Social and cultural influences can not me measured accurately and it may change according to the change in social and cultural behavior, so money required for social and cultural influences can not be predicted accurately and biggest challenge to saving money.

Hence, the correct option is "Social and cultural influences"

Answer:

instant gratifications

Explanation:

social and cultural is wrong because I tried that one already

Which is false?
To satisfy the seminar's requirements
I must be the one who is participating in the seminar,
I may not refer to any of my notes or discuss any information with others.

I may consume alcohol or be under the influence of alcohol or any other intoxicants while taking part of this course,

All of the above

Answers

I may consume alcohol or be under the influence of alcohol or any other intoxicants while taking part of this course

I may consume alcohol or be under the influence of alcohol or any other intoxicants while taking part of this course. This statement is false

What is alcohol?

Alcohol is a  chemical substance found in drinks such as beer, wine, and liquor. It is also found in some medicines, mouthwashes, household products, and essential oils (scented liquid taken from certain plants). It is made by a chemical process called fermentation that uses sugars and yeast. There are different types of alcohol. The type used to make alcoholic drinks is called ethyl alcohol (ethanol). Drinking regular or large amounts of alcohol may increase the risk of certain types of cancer, such as cancer of the mouth, throat, esophagus, br-east, liver, colon, and rectum.

"Alcohols are organic molecules assembled from carbon (C), oxygen (O), and hydrogen (H) atoms. When 2 carbons are present, the alcohol is called ethanol (also known as ethyl alcohol). Ethanol is the form of alcohol contained in beverages including beer, wine, and liquor. Alcohols may be classified as primary, secondary, or tertiary, according to which carbon of the alkyl group is bonded to the hydroxyl group. Most alcohols are colourless liquids or solids at room temperature."

To learn more about alcohol here

https://brainly.com/question/4698220

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In order for Kanye West to perform on the new Arcade Fire album, he must first have what detailed clause in the contract between he and his label permitting him to do so?

Answers

Answer:

He must have a skratta du flörlar du in his album cover

Explanation:

You laugh, you lose

Answer:

yes

Explanation:

What can you do to ensure guest and
team member safety?

Answers

To ensure the safety of guests and team members:

1. Constantly check that chairs, tables and other furniture are well secured to floors, walls or wherever they need to be

2. Make sure that wet or dangerous areas are fixed

3. Look for suspicious people as they may be a threat

4. Always know the place and check for any changes that may occur

Hope that helped!!! k

Answer:

Basically, you are to comply with all safety precautions given. Either at the work shop, offices, or at home. Also, instructions should be given to guest and team members on how to use the safety equipment provided.

Explanation:

U.S. corporation Wright Air Conditions borrows funds to build a factory in the US and a factory in Mexico. Borrowing for factories in which location(s) is included in the U.S. demand for loanable
funds?
O only the U.S.
O only Mexico
O Mexico and the U.S.
O neither Mexico nor the U.S.

Answers

Answer:

The answer is "Mexico and the U.S."

Explanation:

The Wright rising temperature, in the united states company, needs to borrow money to construct the United States and Mexican factories. The United States market with bank credit is required for financing through the companies in Mexico as well as the United States markets, that's why in this question the choice "Mexico and the United States " is correct.

The funds are for the US and Mexico
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