0
What else can I help you with?
Invoices are sent at the time of purchase while?
A ) Receipts are sent monthly. B) Credit reports are sent monthly. C) Statements of the amount due are sent monthly. D) Sales figures are sent monthly. Should be C) Statements of the amount due are sent monthly.
Where is returns inwards posted in the trial balance?
In the trial balance, returns inwards are typically posted as a deduction from sales revenue. This reflects the reduction in total sales due to goods returned by customers. It is usually recorded in the debit column under the sales account or as a separate line item for returns inwards, depending on the accounting system used.
Why is a sales return or allowance usually recorded in a special Sales Returns and Allowances account rather than being debited to the Sales account?
A sales return or allowance is recorded in a special Sales Returns and Allowances account to maintain a clear distinction between gross sales and reductions due to returns or allowances. This separation allows for more accurate financial reporting and analysis, enabling businesses to track sales performance and customer satisfaction more effectively. Additionally, it helps in reconciling sales figures and provides better insights into sales trends over time.
29.95 The sales tax rate is 6 percent How much sales tax is due?
The sales tax due is $1.80
What date are taxes due?
Returns are due 4/15 =/- a day for weekends/holidays
How do you balance sales return account?
Sales returns account are balanced and closed against actual sales for the amount of sales returned by the customers due to any reason.
Invoices are sent at the time of purchase while?
A ) Receipts are sent monthly. B) Credit reports are sent monthly. C) Statements of the amount due are sent monthly. D) Sales figures are sent monthly. Should be C) Statements of the amount due are sent monthly.
What is the difference in returns between an investment compounded daily versus compounded monthly?
The difference in returns between an investment compounded daily versus compounded monthly is that compounding daily results in slightly higher returns due to more frequent compounding periods, which allows for faster growth of the investment.
Is sales tax sale APPLY TO business tax?
Sales taxes are due from a purchaser based on a percentage of the price of items purchased at retail. They are collected and remitted to the state by a merchant either monthly, quarterly or annually in most states. Business taxes (often called Corporate taxes) are due from a company to the state or federal entity based upon different factors including company size, location, special incentive deals, number of employees, annual sales and more.
Where is returns inwards posted in the trial balance?
In the trial balance, returns inwards are typically posted as a deduction from sales revenue. This reflects the reduction in total sales due to goods returned by customers. It is usually recorded in the debit column under the sales account or as a separate line item for returns inwards, depending on the accounting system used.
Why is a sales return or allowance usually recorded in a special Sales Returns and Allowances account rather than being debited to the Sales account?
A sales return or allowance is recorded in a special Sales Returns and Allowances account to maintain a clear distinction between gross sales and reductions due to returns or allowances. This separation allows for more accurate financial reporting and analysis, enabling businesses to track sales performance and customer satisfaction more effectively. Additionally, it helps in reconciling sales figures and provides better insights into sales trends over time.
Is policy premium due monthly?
When application is made for an insurance policy, the applicant is normally given a choice of the frequency of premium payments. Generally, the choices are monthly, quarterly, semi-annually or annually. The choices of frequency often vary with the kind of insurance involved.
What is the difference in the total amount of interest earned on a 1000 investment after 5 years with compounding interest quarterly versus compounding interest monthly in Activity 10.5?
The difference in the total amount of interest earned on a 1000 investment after 5 years with quarterly compounding interest versus monthly compounding interest in Activity 10.5 is due to the frequency of compounding. Quarterly compounding results in interest being calculated and added to the principal 4 times a year, while monthly compounding does so 12 times a year. This difference in compounding frequency affects the total interest earned over the 5-year period.
How often does any business unit review the results against budget?
A good company will review at least on a monthly basis. However, due to the size of some multi nationals the monthly review is undertaken at department level and a quarterly review at board level unless there are issue that the board feel need to be monitored
What inequality will correctly represent the total sales if the salespersons salary is 700 per month with a 2 percent of the sales and they received a monthly income of at least 1800?
Salary of 700 per month, income of 1800. So the income due to sales is 1800-700=1100. This is 2% = 0.02 of the sales, so the total is 1100/0.02=55000.
29.95 The sales tax rate is 6 percent How much sales tax is due?
The sales tax due is $1.80
What is the payment name for the monthly amount due for rent?
The payment name for the monthly amount due for rent is called "rent payment."
