a. Your roommate says, Value-added taxes are reported as an expense in the income statement. Do you
Question:
a. Your roommate says, “Value-added taxes are reported as an expense in the income statement.” Do you agree? Explain.
b. Miaoli Company has cash proceeds from sales of NT$8,400 (amounts in thousands). This amount includes NT$400 of sales taxes. Give the entry to record the proceeds.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a Disagree The company only serves as a collection agent for the ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
2+ Reviews
10+ Question Solved
Related Book For 
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
Question Posted:
