Layton Company does not ring up sales taxes separately on the cash register.Total receipts for October amounted to $31,500.If the sales tax rate is 5%, what amount must be remitted to the state for October's sales taxes?
A) $1,500
B) $1,575
C) $75
D) It cannot be determined.
Correct Answer:
Verified
Q62: On October 1, 2010, Pennington Company issued
Q63: A company receives $132, of which $12
Q65: Unearned Rental Revenue is
A) a contra account
Q66: Reliable Insurance Company collected a premium of
Q83: Hardy Company has current assets of $90,000,
Q99: On October 1, 2011, Pennington Company issued
Q102: On January 1, 2011, Howard Company, a
Q103: Hilton Company issued a four-year interest-bearing note
Q104: A cash register tape shows cash sales
Q105: On January 1, 2011, Donahue Company, a
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