A company receives $95 for merchandise sold to a consumer of which $5 is for sales tax.The $5 of sales tax:
A) increases sales revenue.
B) increases current liabilities.
C) increases selling expenses.
D) is not recorded until it is forwarded to the state government.
Correct Answer:
Verified
Q84: Your company issues a 5-year bond with
Q85: On January 2,2018,AAA Publishing,Inc.received a one-year subscription
Q86: Which of the following statements is not
Q87: Disco World began its business on November
Q88: Which of the following statements about bonds
Q90: At the beginning of the year,your company
Q91: Accrued liabilities could include all of the
Q92: Travis County Bank agrees to lend Brickyard
Q93: Zorn Inc.makes a sale for $300.The company
Q94: Deferred Revenues are liabilities because:
A)no cash has
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