(a) Introduction: The companies collect taxes from customers on sale of goods or rendering services. They record collected taxes as liabilities until they pay off to the tax authorities. To calculate: Total bill for the May, 2019.
(a) Introduction: The companies collect taxes from customers on sale of goods or rendering services. They record collected taxes as liabilities until they pay off to the tax authorities. To calculate: Total bill for the May, 2019.
Solution Summary: The author explains that companies collect taxes from customers on sale of goods or rendering services. They record collected taxes as liabilities until they pay off to the tax authorities.
Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.
Chapter 8, Problem 77APSA
To determine
(a)
Introduction:
The companies collect taxes from customers on sale of goods or rendering services. They record collected taxes as liabilities until they pay off to the tax authorities.
To calculate:
Total bill for the May, 2019.
To determine
(b)
Introduction:
The companies collect taxes from customers on sale of goods or rendering services. They record collected taxes as liabilities until they pay off to the tax authorities.
To record:
Journal entry for billing the customers.
To determine
(c)
Introduction:
The companies collect taxes from customers on sale of goods or rendering services. They record collected taxes as liabilities until they pay off to the tax authorities.
To record:
Journal entry for receiving payment from the customers.
To determine
(d)
Introduction:
The companies collect taxes from customers on sale of goods or rendering services. They record collected taxes as liabilities until they pay off to the tax authorities.
To record:
Journal entry to record payment to tax authorities.
Hello tutor please provide this question solution general accounting
What is the account receivable turnover rate?
Assets
Liabilities
Earth
302,376.77
ΚΕΦΑΛΑΙΟ / CAPITAL
565,500.00
Machinery
0.03
Fair value differences
175.17
Fixtures
47,092.83
Reserves of laws
343.41
Real estate investments
3,752,595.13
Results in new
-2,290,557.96
Intangible
638.27
Total Equity
-1,724,539.38
Loans granted
66,185.63
Other receivables
537,172.25
Bond Loans
6,358,664.28
Cash and cash equivalents
11,375.75
Other liabilities
83.311.76
Total Liabilities
6,441,976.04
TOTAL ASSETS
4,717,436.66
Total Liabilities and Equity
4,717,436.66
The company wants to sell 145,000 shares to a new shareholder. What will be the value of the share according to the above balance sheet?
Chapter 8 Solutions
Cornerstones of Financial Accounting - With CengageNow