Layton Company does not ring up sales taxes separately on the cash register. Total receipts for October amounted to $18,900. If the sales tax rate is 5%, what amount must be remitted to the state for October's sales taxes?
A) $900
B) $945
C) $45
D) It cannot be determined.
Correct Answer:
Verified
Q84: Sales taxes collected by a retailer are
Q86: The current ratio is
A) current assets plus
Q88: Any balance in an unearned revenue account
Q89: Sales taxes collected by a retailer are
Q90: Advances from customers are classified as a(n)
A)
Q93: A cash register tape shows cash sales
Q99: Valerie's Salon has total receipts for the
Q100: Julie's Boutique has total receipts for the
Q101: Lincoln Company sells 600 units of a
Q102: Madden Electric began operations in 2010 and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents