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What is consumer sales growth?
Sales growth is when a business expands their market and realizes more sales. More sales will lead to more revenue for the business.
What type of businesses use sales reports?
Any type of business that is in business to make sales would use sales reports as a way to show the amount of sales being brought in and other statistics about the sales.
What types are items are tax exempt for a business?
Items that a business buys with the intention of reselling them are exempt from sales taxes. However, the business has to charge sales tax when it does resell that item.
What does sales executive do?
A sales executive does what they can to maximize sales. A sales executive negotiates contracts, establishes new business relationships, and close sales among other duties.
What is the meaning of sales executive?
A 'sales executive' is someone in a business (or sometimes in a shop/store) who handles the sale of the items traded.Ans) A person employed by a company to handle sales requirements of a company.
Need the answer why is sales tax a liability to a business?
When a business collects Sales Tax, it owes it to the Sales tax collecting authority. Sales tax that has been collected but not paid to the Sales Tax collecting authority should be carried on the books as a liability.
When companies pay the government collected sales tax sales taxes payable is credited and cash is debited true or false?
True. When companies pay the government the collected sales tax, they credit the "Sales Taxes Payable" account, which reduces the liability, and they debit the "Cash" account to reflect the outflow of cash. This transaction effectively transfers the sales tax liability to the government.
What is a sales TO?
A sales TO is a type of tax that is paid to the government for the sale of certain services or products. This type of tax is collected by the seller from the purchaser.
What would you do with sales tax?
The first thing you need to do is find out if your new state is an ... states, sales tax should be collected based on where you, the seller, is located.
A sales tax on gasoline is an example of what kind of tax?
The sales tax on gasoline is a fuel tax, which is labeled as a user tax. The taxes collected from gasoline purchases are remitted to the state government.
What should be the percentage of salary to sales in a retail business?
7%
What should be the percentage of wages to sales in a retail business?
Salary
Is sales tax collected by wholesalers?
no
What is the journal entry of cash collected from sale of tickets and recorded as unearned revenue?
Cash collected from sales of tickets should be charged to sales rather then unearned revenue so the correct entry is as follows: [Debit] Unearned Revenue xxxx [Credit] Sales revenue xxxx
What percentage of retail gross sales should go to rent?
Depends on the business but for most small business your total occupancy cost should never exceed 10% of total sales.
What is considered appropriate sales reporting?
In order to conduct appropriate sales reporting, one must keep track of operations in the sales department and sales made. Some of the data that should be collected are sales volume, accounts contacted, and cost of sales promotion.
What types of taxes collected by government on the state and federal levels?
The government on both the state and federal levels collects various types of taxes. Some common types of taxes include income taxes, which are collected based on an individual's or business's earnings; sales taxes, which are collected on the purchase of goods and services; property taxes, which are collected based on the value of real estate; and payroll taxes, which are collected from employers and employees to fund social security and Medicare programs. Additionally, governments may also collect excise taxes on specific goods such as alcohol, tobacco, and gasoline.
