2 Manama Trading has $ 8,000 of cash sales that are subject to an additional 8% sales tax, what is the journal entry to record the cash sales in the company books? OA Debit Cash $ 8,000; credit Sales $ 7,360; credit Sales Taxes Payable $640. OB. Debit Cash $ 8,640, credit Sales $8,000: credit Sales Taxes Payable $640 OC. Debit Sales Taxes Payable $ 640, debit Cash $ 7,360, credit Sales $8,000. OD. Debit Cash $ 8,000; credit Sales $8,000; and record the taxes when paid Question 2 of 16 1 points SaveAnswer Moving to another question will save this response. Question 2 of 16M Question 3 Question 3 of 163 1 points See An The beginning balance in retained earnings of is $1200,000 (Cr). The current period net loss is $350.000 and declared stock dividends $150,000. The ending balance in retained eamings equals OA Credit of $850,000. OB. Credit of $1550,000. Oc Credit of $1400,000. OD Credit of $700,000 Moving to anor this response Question 4 of 16 Question 4 1 points Save Antwer A company estimates that warranty expense will be 5% of sales. The company has sales of $225.000 for the current period. The current period's entry to record the warranty expense is: COA Estimated Warranty Liability. 11, 250 Estimated Liability Expense. 11,250 OB. Warranty Liability Expense..... 11, 250 Estimated Warranty Liability. 11,250 OC. Warranty Liability... 11, 250 Estimated Warranty Liability. 11,250 OD.Warranty Expense 11,250 Estimated Warranty Liability. 11,250 Moving to another question will save this response. Question 4 of 16 Question 5 1 points Save A Mariam, Sabah and Fatima are partners with capital balances of $40,000, $60,000 and $50,000 respectively. They find that Afrah, a new partner, is a talented engineer with an experience useful for the company. Afrah accepts joining them as a new partner and ready to contribute $10,000 for an equity share of 25% Afrah's capital balance would be OA $2,500 OB. $10,000 OC $40,000. OD 537,500. Moving to another question will save this response. Question 8 In recording cash paid by the company to the withdrawing partner, the joumal entry to include his/her capital account in credit and cash account is debit. O True False Moving to another question will save this response. C 1 pm Qu Moving to another question will save this response. Question 9 Question 9 of 16 1 points Save Answe The cost of a plant asset includes the purchase price, applicable taxes, purchase commissions, and all other amounts paid to acquire the asset and make it ready for its intended use True O False Moving to another question will save this response. Question 9 of 16 Question 11 Cash withdrawals by a partner are increasing his/her capital account. O True False 1160 Question 13 The cost of land improvements includes fencing, paving, parking areas, and lighting. O True False Moving to another question will save this response