How is the sales tax rate usually determined? Does the company get to keep the sales tax
Question:
How is the sales tax rate usually determined? Does the company get to keep the sales tax as earned revenue?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 12% (8 reviews)
The sales tax rate is usually determined based on where the company is reg...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
How is the sales volume variance calculated? What does it measure? Who within the organization is typically held responsible for the sales volume variance?
-
The sales tax rate applied to all purchases within a state was 0.04 (4 percent) throughout 2010 but increased to 0.05 (5 percent) during all of 2011. The state government collected all taxes due, but...
-
The sales tax rate applied to all purchases within a state was 0.04 (4 percent) throughout 2012 but increased to 0.05 (5 percent) during all of 2013. The state government collected all taxes due, but...
-
Pierce Phones is considering the introduction of a new model of headphone whose selling price is $18 per unit and whose variable expense is $15 per unit. The company's monthly fixed expense is...
-
Compare the types of consideration that can be used in Type A, B, and C reorganizations.
-
Identify each of the following as being consistent with risk-averse, risk-neutral, or risk-seeking behavior in investment project selection. Explain your answers. A. Larger risk premiums for riskier...
-
Current Ratio Loan Provision Assume that you are the controller of a small, growing sporting goods company. The prospects for your firm in the future are quite good; but like many other firms, it has...
-
Suppose you have 10 individuals with values {$1, $2, $3, $4, $5, $6, $7, $8, $9, $10}. Your marginal cost of production is $2.50. What is the profit-maximizing price?
-
' L. Find the monthly house payments necessary to amortize an 8.4% loan of $284,500 over 20 years. \\ w The payment size is $D. (Round to the nearest cent.)
-
Government actions such as price floors and price ceilings can actually increase unemployment and reduce market efficiency. True or False
-
Review the following transactions and prepare any necessary journal entries for Tolbert Enterprises. A. On April 7, Tolbert Enterprises contracts with a supplier to purchase 300 water bottles for...
-
A ski company takes out a $400,000 loan from a bank. The bank requires eight equal repayments of the loan principal, paid annually. Assume no interest is paid or accumulated on the loan until the...
-
The Yamaha Aggressive Growth fund has a 1.83 percent expense ratio. a. If you invest $55,000 in this fund, what is the dollar amount of fees that you would b. Based on the information in this chapter...
-
Could a drone be used to autonomously trim a hedge? How could it work?
-
Describe the applicability of internal control structure components to the investing cycle.
-
What is the minimum and maximum number of propellers a drone can have?
-
What is the diference between a helicopter-sized drone, a helicopter, and a fying robot?
-
Indicate the materiality, audit risk, and audit strategy matters that relate to the financing cycle.
-
Trapped on a deserted island, you salvage some copper wire and a generator to build a makeshift radio transmitter. (a) If you wrap the wire into an 8-turn coil of radius 3.8 cm and length 25 cm, what...
-
Funds are separate fiscal and accounting entities, each with its own self-balancing set of accounts. The newly established Society for Ethical Teachings maintains two funds-a general fund for...
-
When Yuji died in March 2017, his gross estate was valued at $8 million. He owed debts totaling $300,000. Funeral and administration expenses were $12,000 and $120,000, respectively. The marginal...
-
Assume the same facts as in Problem C:13-47 except that Yujis will also provided for setting up a trust to be funded with $400,000 of property with a bank named as trustee. His wife is to receive all...
-
Assume the same facts as in Problem C:13-48 and that before Yujis death in 2017 his wife already owned property valued at $300,000. Assume that each asset owned by each spouse increased 8% in value...
-
The balance sheet of ABC Ltd. on December 31, 2023, is provided below: Item Amount ($) Accounts Payable 1,610,000 Notes Payable 1,590,000 Accrued Expenses 1,470,000 Total Current Liabilities ?...
-
Company LMN has a contribution margin ratio of 25%. If total sales are $500,000, calculate the variable costs incurred. Evaluate the impact of changes in sales volume on variable costs and...
-
Accrued Expenses at Facebook Values: Accrued Salaries: $300,000 Accrued Rent: $50,000 Accrual Period: Monthly Requirements: Apply the conservatism principle to recognize accrued expenses. Calculate...
Study smarter with the SolutionInn App