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Sveta_85
1 month ago
12

Stine Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax collected

. Stine Co. records the sales tax in the Sales account. The amount recorded in the Sales account during May was $148,400.
Business
2 answers:
stepan [3K]1 month ago
4 0

Explanation:

a)  Sales tax = (Sales Revenue x sales tax rate) / 100 +  sales tax rate

= ($148,400 x 6%) / 100 + 6 = ($148,400 x 6%) / 106% = 8904 / 1.06 = $8,400

 Sales tax = $8,400

The retailer is permitted to retain 2%, thus

b) the sales taxes payable = Sales tax  x (100-2%) = $8400 x 98% = $8,232

Free_Kalibri [3.1K]1 month ago
3 0

Answer:

Sales tax = $8,400

sales taxes due = $8,232

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A company's unit costs based on 100,000 units are: Variable costs $75 Fixed costs 30 The normal unit sales price per unit is $16
Free_Kalibri [3164]

Answer:

Incremental profit = $30000

thus, the correct choice is a. $30,000

Explanation:

provided data

Variable costs = $75

Fixed costs = 30

Sales price = $165

to determine

incremental profit or loss  from approval

solution

The contribution per unit is calculated as follows:

Contribution per unit = $165 - $75

Contribution per unit = $90

Consequently, we determine the loss on contribution from forgoing regular sales:

Loss on contribution = $3000 × $90

Loss on contribution = $270000

Furthermore,

The incremental contribution for the special order is calculated as:

Incremental contribution = (135 - 75) × 5000

Incremental contribution = $300000

Thus, the incremental profit equates to:

Incremental profit = $300000 - $270000

Incremental profit = $30000

therefore, the correct option is a. $30,000

8 0
25 days ago
Toyota and its suppliers have a relationship in which Toyota encourages suppliers to modernize their facilities and provides the
Mariulka [3182]

Answer:

c. strategic network.

Explanation:

The relationship detailed in the question exemplifies a strategic network. This concept involves the organized collaboration among independent firms, fostering enduring business relationships, communication, and cooperation among the network participants, which is precisely the situation between Toyota and its suppliers.

6 0
1 month ago
In the simulation, explain how the original order results in one $22 fee, while the Wells Fargo reordering results in four $22 f
Scilla [3267]
In a scenario where transactions are recorded in the exact sequence they occurred, the customer owes $22. Conversely, if the transactions are arranged from largest to smallest, the customer’s account balance diminishes rapidly, leading to an overdraft of $88. Explanation: In the original order, one fee of $22 accumulates, resulting in a total debt of $22, calculated by multiplying 1 by $22. However, when sorted descending, four occurrences of the $22 fee arise, resulting in an overdraft of $88, as computed by multiplying 4 by $22.
4 0
16 days ago
Carol’s Clothiers, LLP, sells women’s business clothing designed by the world’s top designers. The company also sells clothing f
arsen [2988]

Answer:

Retained profits.

Explanation:

This typically happens when a business funds its operations through earnings generated from the sale of goods or services.

The income that Carol's Clothiers earns from the sales it conducts, referred to as retained earnings, acts as the main source of capital for expanding their operations.

Furthermore, as an LLP (limited liability partnership), where certain or all partners may have restricted responsibilities, they can utilize their retained earnings to provide dividends to shareholders or to repurchase shares.

7 0
1 month ago
Assume Chester Corp. is downsizing the size of their workforce by 20% (to the nearest person) next year from various strategic i
harina [3228]

Answer:

$311,100

Explanation:

Solution

Let's remember the following details:

The assumption is that Chester Corp has reduced its workforce by = %

The estimated cost of exit interviews = 100

Normal separation expenses = $5000

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So,

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Now,

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That is,

= 61 x 5100 = $311,100

3 0
1 month ago
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