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If Sales is 8000 and Purchase is 4000 then what does it mean that 60 percent Sales and Purchases are for cash?
It means that 60% of sales and purchases are done on cash basis while 40% of purchases and sales are done on credit basis.
Is the purchases returns included in the calculation of cost of sales?
Yes purchase returns are deducted from purchases to calculate the net amount of purchases and that's why included in cost of sales.
Does a purchases journal record sales on account?
Purchase journal only records and deals in with purchases and don't deal with sales items.
How do you calculate a direct cost of sales in a business plan?
Cost of sales = opening stock + purchases-closing stock Cost of sales = opening stock + purchases-closing stock
Sales tax chart for CA purchases?
what is the sales tax on a purchase of $264.00
When did Texas put a max on the sales tax on cars?
Texas implemented a cap on the sales tax for vehicle purchases in 2016. The legislation set the maximum sales tax at $90 for car sales, which was part of broader tax reform efforts. This change aimed to alleviate the financial burden on consumers when purchasing vehicles. Prior to this cap, the sales tax was calculated as a percentage of the vehicle's purchase price without a limit.
Does Texas have a sales tax?
Yes, Texas have sales tax.
Texas sales tax?
Sales tax in Texas is 6.25%.
Do I pay sales tax on a home purchase?
There is no sales tax on real estate purchases.
What is a direct cost of sales?
Direct cost of sales is that cost which directly identifiable with sales like purchases etc.
What is purchases journal is used for recording?
credit sales
Is pet grooming taxable in the state of Ohio?
Yes. All services and products sold in Ohio (Except unprepared foods and prepared foods not consumed in the establishment where they were sold) are subject to sales tax. Any products or services purchased on the internet and delivered in Ohio are also subject to sales tax, however, the sales tax on many internet purchases is not collected by the vendor. One is supposed to report any such purchases on the income tax return forms in April.
