Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 28, 2024

Pluto Corp. sold goods, with a selling price of $9,021, for cash. The state sales tax rate is 10%. What amount is credited to the

Pluto Corp. sold goods, with a selling price of $9,021, for cash. The state sales tax rate is 10%. What amount is credited to the Sales Revenue account?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

College Accounting Chapters 1- 9

Authors: James A Heintz, Robert W Parry

23rd Edition

1337794783, 978-1337794787

More Books

Students also viewed these Accounting questions

Question

★★★★★

What are the two fundamental qualitative characteristics of accounting information? Briefly explain each.

Answered: 1 week ago

Question

★★★★★

Select the most appropriate description ac for types of standby centres. The organization should ensure that it has a contract for standby facilities to take over processing in the event of the...

Answered: 1 week ago

Question

★★★★★

23. A coin having probability p of coming up heads is successively flipped until two of the most recent three flips are heads. Let N denote the number of flips. (Note that if the first two flips are...

Answered: 1 week ago

Question

★★★★★

The Eastclock Corporation (EC) manufactures timing devices that are used in industrial settings. Recently, profits have fallen, and management is seeking your advice as an outside consultant on...

Answered: 1 week ago

Question

★★★★★

1 9 . June 2 3 : Purchased office supplies for $ 6 3 0 . 0 0 from Staples on account. The invoice number was 6 5 4 9 8 . 2 0 . June 2 3 : Cash in the amount of $ 3 , 3 6 5 . 0 0 was received on...

Answered: 1 week ago

Question

★★★★★

From inception of operations to December 31, 2010, Fortner Corporation Provided for uncollectible accounts receivable under the allowance method. Provisions were made monthly at 2% of credit sales,...

Answered: 1 week ago

Question

★★★★★

Bramble Hardware Limited reported cost of goods sold as follows. 2022 2021 Beginning inventory $27,400 $19,700 Cost of goods purchased 188,100 170,300 Cost of goods available for sale 215,500 190,000...

Answered: 1 week ago

Question

★★★★★

Bramble Ltd. holds equities securities in its portfolio and is accounting for those investments using the FV-NI method. On March 1, 2023, the company purchased 11000 shares of a publicly traded...

Answered: 1 week ago

Question

★★★★★

The following cost behavior pattern describes anticipated manufacturing overhead costs for 2019: $297,500+ $9.0/unit. During the year, 35,000 units were produced and 32,750 units were sold. Required:...

Answered: 1 week ago

Question

★★★★★

Blue Spruce Valley Limited produces wine. Certain vintage wines take more than one year to age. The company has borrowed funds to cover the costs of this aging process. The company meets the interest...

Answered: 1 week ago

Question

★★★★★

Waterways Corporation is preparing its budget for the coming year, 2022. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in...

Answered: 1 week ago

Question

★★★★★

3. (Constructing a metaphor about something can be done by comparing it to something else by using the word is. For instance, Communication is a bridge between people.

Answered: 1 week ago

Question

★★★★★

1. The first party (the sender) may dispute the validity of the interpretation, or 2. He/she can accept the interpretation.

Answered: 1 week ago

Question

★★★★★

2. In this chapter, the reader should reflect on the following concepts: Message, communication error, data, code, information, metaphor.

Answered: 1 week ago

Previous Question Next Question