FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

MCQ When a company collects sales taxes from a customer, it will be recorded by * (A) Crediting Sales Taxes Revenue (B) Debiting Sales Taxes

MCQ

When a company collects sales taxes from a customer, it will be recorded by *

(A) Crediting Sales Taxes Revenue

(B) Debiting Sales Taxes Expense

(C) Debiting Sales Taxes Payable

(D) Crediting Sales Taxes Payable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Business Accounting Volume 1

ISE Business Accounting Volume 1

Authors: Frank Wood, Alan Sangster

8th Edition

0273638394, 9780273638391

More Books

Students also viewed these Accounting questions

Question

★★★★★
(a) Show that any regular second order linear ordinary differential equation a(x)u" + b(x)u' -I- c(x)u = f(x), with a (x) 0, can be placed in Sturm- Liouville form (11.143) by multiplying...

Answered: 1 week ago

Question

★★★★★
2. Spend your time on the important, difficult, and unfamiliar material that will be required for the test or assignment. Resist the temptation to go over what you already know well, even if that...

Answered: 1 week ago

Question

★★★★★
Assume a $90,000 investment and the following cash flows for two alternatives. a. Calculate the payback for investment A and B. b. If the inflow in the fifth year for Investment A was $25,000,000...

Answered: 1 week ago

Question

★★★★★
Memphis Company's May sales budget calls for sales of $880,000. The store expects to begin May with $48,000 of inventory and to end the month with $53,000 of inventory. Gross margin is typically 45%...

Answered: 1 week ago

Question

★★★★★
Chacha Oil Company were digging an oil well near Mrs. Gaganpreet's house. While digging they found oil that was connected to the ground below Mrs. Gaganpreet's House and they are currently pumping...

Answered: 1 week ago

Question

★★★★★
Patel and Sons Incorporated uses a standard cost system to apply factory overhead costs to units produced. Practical capacity for the plant is defined as 50,000 machine hours per year, which...

Answered: 1 week ago

Question

★★★★★
You are designing a wireless multihop network that can tolerate 5% packet loss, meaning that 95% of the packets must be delivered to the destination. i) Would you recommend using TCP or UDP at the...

Answered: 1 week ago

Question

★★★★★
On August 31, 2018, a fire destroyed totally the rented "bodega" or stockroom of the Company. The following are some of the data of the company: Merchandise inventory, December 31, 2017 P110,000 For...

Answered: 1 week ago

Question

★★★★★
If an instance of ANE happens for a client, direct service providers should do the following: Record TV shows that were going to be watched for later viewing Report knowledge or suspicion of ANE to...

Answered: 1 week ago

Question

★★★★★
Learning Source, Inc. has two divisions: Test Preparation and Language Arts. Results (in millions) for the past three years are partially displayed here: (Click the icon to view the results.)...

Answered: 1 week ago

Question

★★★★★
10.6 Discuss the major problems inhibiting effective performance appraisals.

Answered: 1 week ago

Question

★★★★★
10.1 Explain the strategic value and importance of performance management.

Answered: 1 week ago

Question

★★★★★
=+ Where, how, why, and when are the products to be bought abroad?

Answered: 1 week ago

Previous Question Next Question