In cases like Yugoslavia, it also led to genocide.
In genocide there is an act of extermination of groups by other groups due to national, racial, and religious hatred. Genocide is the dark side of the loss of humanity by some parties. In genocide there is an act of destroying a certain group of people because all or part of another group harbors hatred against a nation, race, group, or religion. Genocide acts are included in the category of gross human rights violations, along with crimes against humanity.
One example of genocide that has occurred in Indonesia is the mass murder by the Dutch army led by Captain Raymond Pierre Paul Westerling on December 12, 1946. Around 40 thousand people of South Sulawesi were mass killed.
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To exploit an expected increase in interest rates, an investor would most likely?.
To exploit an expected increase in interest rates, an investor would most likely sell Treasury bond futures.
A bond is a loan that the bond client, or bondholder, makes to the bond issuer. Governments, companies and municipalities issue bonds when they need capital. An investor who buys a government bond is lending the government cash. If an investor buys a company bond, the investor is lending the agency money.
In finance, a bond is a sort of security underneath which the company owes the holder a debt, and is obliged – relying at the terms – to repay the main of the bond at the adulthood date as well as hobby over a precise amount of time.
A bond is a debt security, just like an IOU. debtors trouble bonds to elevate money from investors inclined to lend them money for a certain amount of time. while you purchase a bond, you are lending to the provider, which may be a central authority, municipality, or business enterprise.
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efforts to regulate the monopolizing practices of railroad corporations first came in the form of action by a. congress. b. the supreme court. c. private lawsuits. d. president cleveland. e. state legislatures.
Efforts to regulate the monopolizing practices of railroad corporations first came in the form of action by state legislatures.
What was the United States government's initial significant effort to control business?The Interstate Commerce Act, established by Congress in 1887, made the railroads the first sector subject to government supervision. The statute was enacted by Congress in significant part in reaction to decades of popular clamor for regulation of railroad operations.
What federal regulatory body was the first one created to serve the public interest?The Act established the Interstate Commerce Commission (ICC), a federal regulatory body, with the responsibility of overseeing railroads to make sure they adhered to the new laws. After the Act was passed, the railroad sector became the first to be governed by a regulatory body at the federal level.
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During a weightlifting competition, athletes are asked to lift an extremely large amount of weight in a short amount of time. Which skill-related component do the athletes in this competition likely demonstrate most frequently?.
Answer:balance
Explanation: because you need some balance and take mind what you’re lifting
Traditional powerlifting competitions are known as complete power competitions, in which the lifter must proceed through the squat, bench press, and deadlift rounds in order.
What strength abilities are required for weightlifting competition?The term "power" refers to the body's ability to overcome resistance as well as the rate at which the burden moves.Lifting weights is a strength-based activity, but lifting the weight quickly necessitates a greater amount of force.To master weightlifting technique, the athlete must be extremely skilled in all receiving positions.Any continuous incapacity to function in receiving positions has severe consequences for the athlete's performance.As a result, the competitors in this competition are likely to exhibit the highest power skill-related component. Powerlifting is a sport based on relative and absolute maximal strength that consists of three events: the squat, bench press, and deadlift.In each event, participants have three attempts to lift the maximum load in a single repetition while adhering to the judging criteria.To learn more about weightlifting competition refer
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when a company recognizes compensation expense related to restricted stock units awards payable in cash, the company should also credit a(n)
Employees can receive stock-based compensation in the form of restricted stock units (RSUs).
How does RSU compensation work?Unlike stock options, restricted stock units will eventually vest and, unless the underlying firm stock becomes worthless, will have some value upon vesting.Employee stock grants from employers can be made through restricted stock units.The grant qualifies as "restricted" because it is subject to a vesting schedule, which may be determined by performance goals or length of service, and because it is constrained by additional transfer or sale restrictions that your company may apply.When you leave your work, you forfeit all of your unvested RSU shares. You can keep the vested RSU shares that are already in your brokerage account because they will become your property once they vest.Once your shares of restricted stock have vested, you own them outright and are free to sell them whenever you choose. You have the option to purchase business equity through restricted stock units (RSUs) once you've fulfilled specific vesting conditions. However, unlike restricted stock, RSUs are not genuine shares of the firm.To Learn more About restricted stock units Refer To:
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during woodrow wilson's administration, the federal government attempted to counteract the economic influence of big business by
During woodrow wilson's administration, the federal government attempted to counteract the economic influence of big business by establishing the federal trade.
What is the federal form of government?
Federalism is a form of governance in which the center and its component elements, such as states or provinces, are given varying degrees of authority. One set of politics is at the center or national level, and the other set is at the regional or provincial level. This institutional mechanism allows for both of these political systems to coexist.What kind of federal government are examples?
A strong central government that wields great power shares it with states or provinces that are granted significant autonomy, typically through their own legislatures. Examples include Australia, the Federal Republic of Germany, and the United States.Learn more about federal government
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critics of comparable worth argue that a. this issue encourages women to keep their low-paying jobs rather than seek higher-paying ones. b. states have not enacted laws requiring equal pay for comparable work in government positions. c. the market has determined the worth of certain female-dominated jobs. d. artificially inflating salaries for female-dominated occupations would bring about equality. e. laws should be enacted to assist the market's pricing mechanism.
Critics of comparable worth argue that the market has determined the worth of certain female-dominated jobs
What is Comparable worth?
Equivalent worth, also referred to as "pay equity," is a method used by businesses to determine the value of comparable talents and responsibilities across professions, regardless of sex, when determining employee remuneration. Regardless of job title, the phrase, which originally appeared in the 1970s, aims to level the playing field for men and women. It differs from equal pay for equal labour, which is governed by the Same Pay Act of 1963, prohibits pay discrimination "on the basis of sex," and mandates that people be paid equally for the same job requiring "equal skill, effort, and responsibility." Comparable worth concentrates on the value a position brings to a business. This implies that two completely dissimilar professions could be found to share similar characteristics within a single organisation.To know more about Comparable worth visit:
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this market center has market weeks that focus on handcrafted items and a southwestern influences. group of answer choices new york city los angeles miami dallas
The market hub of Dallas hosts market weeks that emphasize artisan goods and southern characteristics.
A market is a collection of systems, institutions, processes, social relationships, or infrastructures in economics that allow parties to exchange goods and services. While parties may trade goods and services for money, the majority of markets rely on sellers providing their wares or services—including labor—to customers in exchange for payment. A market, in this sense, is the mechanism by which the costs of goods and services are decided. Markets enable the distribution and allocation of resources in a community and facilitate trade. Markets enable the evaluation and pricing of any tradable good. In order to facilitate the trade of rights (see ownership of services and goods), markets either develop more or less organically or maybe purposefully created by human interaction.
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you are considering a sales job that pays you on a commission basis or a salaried position that pays you $50,000 per year. historical data suggests the following probability distribution for your commission income. which job has the higher expected income? commission probability of occurrence $15,000 0.10 $35,000 0.20 $48,000 0.40 $67,000 0.16 $80,000 0.14 group of answer choices the salary of $50,000 is less than the expected commission of $50,050. the salary of $50,000 is greater than the expected commission of $48,400. the salary of $50,000 is less than the expected commission of $52,720. the salary of $50,000 is greater than the expected commission of $49,620.
The salary of $50,000 is said to be greater than the expected commission which is of $49,620.
Given,
Commission basis or a salaried position which pays you $50,000 per year.
So, to calculate that which job has the higher expected income salary, it is thus calculated below-
The expected return is calculated below-
Expected Return =
(15,000 × 0.1) + (35,000 × 0.2) + (48,000 × 0.4) + (67,000 × 0.16) + (80,000 × 0.14)
= 49,620
However, this scope of earnings is considered to be the salary range for the job. Salary range is referred to as the range of the pay an employee is paid by the employer. It has a minimum and maximum pay rate.
Hence, the salary of $50,000 is said to be greater than the expected commission which is of $49,620.
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alpha investments records net income of $320 at the end of year. over the year, a.i. recorded $50 in depreciation expenses, an increase in receivables of $20, and a decrease in payables of $30. assuming there were no other changes in working capital accounts and no gains or losses, how much did a.i. record in operating cash flows?
Thus, the operating cash flows amount is $320 for Alpha investments. The answer is $320.
given-
net income at the end of year = $320
depreciation expenses = $50
increase in receivables = $20
decrease in payables = $30
Equation:
Operating Cash Flow = Operating Income + Depreciation – Taxes + Change in Working Capital.
Operating cash flow= $320+$50-$20-$30
= $320
Thus operating cash flow amount will be $320.
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. at year-end, barr company had shipped $14,000 of merchandise fob destination to lee company. which company should include the $14,000 of merchandise in transit as part of its year-end inventory? 2. parris company has shipped $21,500 of goods to harlow company, and harlow company has arranged to sell the goods for parris. identify the consignor and the consignee. which company should include any unsold goods as part of its inventory?
Barr Company should include the $14,000 of merchandise in transit as part of its year-end inventory. The consignor is Parris company and the consignee is Harlow Company.
1. Barr company which is the seller should include the $14,000 of merchandise in transit as part of its year-end inventory because the goods are yet to be delivered to the buyer which is Lee Company as the goods are still in transit.
2. Parris company is the consignor because they are sellers while Harlow company is the consignee because they are the buyer.
In conclusion, Barr Company should include the $14,000 of merchandise in transit as part of its year-end inventory. The consignor is Parris company and the consignee is Harlow Company.
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based on current trends, airlines (and hotels) are now competing with gds's, so why did the airline industry adopt the original gds system and structure? gds's were thought to be the end of the travel agency business. what is the current role of travel agents and why do we still need them? with increased direct bookings and restructured fees and commissions, is there a need for gds's
Yes ,there is a need for GDS's with the increased direct bookings and restructured fees and commissions.
What is GDS?A global distribution system (GDS) is a computerized network system that is owned or run by a business and facilitates transactions between service providers in the travel sector, primarily airlines, hotels, car rental agencies, and tour operators. The GDS mostly employs real-time inventory from the service providers (such as the quantity of available hotel rooms, seats on available flights, or automobiles). In the past, travel agents relied on GDS for services, goods, and prices in order to offer final customers travel-related services. By linking services, pricing, and bookings, a GDS may consolidate goods and services from all three types of travel: bookings for hotels, flights, and rental cars.
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first part: a magazine publisher wants to launch a new magazine geared to college students. the project's initial investment is $62. the project's cash flows that come in at the end of each year are $28 for 4 consecutive years beginning one year from today. what is the project's npv if the required rate of return is 16%?
The project's NPV is $29.26 if the required rate of return is 16%.
What is NPV?A number of cash flows that occur at various times are covered by the net present value (NPV). Depending on how much time passes between now and a cash flow, it is possible to calculate its present value. The discount rate also has an impact. Money's time value is taken into account by NPV. It offers a method for assessing and contrasting capital projects or financial goods with cash flows that are dispersed over time, such as loans, investments, insurance contract payouts, and many other applications. Depending on the rate of return that is chosen, the current value of the expected future cash flows will decrease. Since present cash flow can be invested right away and start earning returns, it is more valuable than an equivalent future cash flow.
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In 1933, hundreds of utah residents gathered in salt lake city to protest the auction of several houses and a farm that had been foreclosed on because the owners were unable to pay taxes. What did the protesters do?.
The protesters do the effect of the Great Depression changed into pretty extreme withinside the Mountain West, in which maximum Latter-day Saints lived. In 1932 unemployment in Utah reached 35.
Nine percent, and in step with capita earnings fell via way of means of 48.6 percent. Heads of households needed to swallow their pleasure and wait in lengthy traces for handouts of bread or different foods. The Great Depression of the Nineteen Thirties hit Utah tougher than maximum states. Between 1932 and 1940 Utah's unemployment price averaged 26% and reached an excessive of 35.8% in 1933. Only 3 different states withinside the Union suffered extra severely.
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as interactive communications between companies and customers grow, do you think that traditional advertising will grow or decline? what will be the effect of growth or decline on the price we pay for tv programs, newspapers, and magazines?
Although at a very modest rate, traditional advertising will continue to fade.
Receiving comments and feedback is part of the two-way information exchange. Utilizing social media, simple conversation, narrative, public relations, interactive marketing, and non-verbal communication are all part of it.
Although at a very modest rate, traditional advertising will continue to fade. This is due to the fact that some people still choose traditional means of information acquisition. In this digital age, where information is easily accessible at the touch of a button, interactive marketing is growing in popularity. Interactive marketing is quite alluring since it allows customers to speak with service providers directly and receive feedback right away. Interactive marketing has exploded since the internet's inception, making traditional advertising less approachable.
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Would you expect a $1 increase in a call option’s exercise price to lead to a decrease in the option’s value of more or less than $1?.
The call price will decrease by less than $1.
The call price( also known as" redemption price") is the price at which the issuer of a callable security has the right to buy back that security from an invest or creditor. The call price is generally the seen value of the bond, plus a fresh chance. The quantum of the call price and the dates during which it can be legislated are specified in the indenture agreement associated with the bond.Also, par value still matters for a callable common stock the call price is generally either par value or a small fixed chance over par value.Learn more about call price here: https://brainly.com/question/17151706
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For a monopoly, the level of output at which marginal revenue equals zero is also the level of output at which.
Profit is maximized. At the point of profit maximization, the marginal principle is applied.
Earnings, in accounting, is earnings dispensed to the owner in a profitable marketplace production method (commercial enterprise). Income is a degree of profitability that is the proprietor's main interest in the earnings-formation procedure of market manufacturing. There are numerous income measures in common use. Profits formation in marketplace production is always a stability between earnings technology and earnings distribution. The income generated is usually distributed to the stakeholders of production as monetary cost inside the review period. The profit is the proportion of income formation the proprietor is able to keep to themselves within the profits distribution technique. Earnings is one of the foremost assets of economic well-being as it means incomes and opportunities to develop production. The words "income", "income" and "profits" are synonyms on this context.
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The total cost for a continuous review system with uncertain demand excludes consideration of?.
The total cost for a continuous review system with uncertain demand excludes consideration of product cost.
What is product cost?The direct expenses incurred in creating a product are called product costs. For instance, a manufacturer's product expenses can include:Direct laborRaw materialsManufacturing suppliesOverhead that is directly tied to the production facility, such as electricityThe supplies that a retailer purchases from a supplier as well as any other expenses related to bringing their products to market would be included in the product costs. Simply put, product costs are any expenses incurred during the acquisition or production of a product.Because they are used to value the inventory, product expenses are frequently handled as inventory and are known as "inventoriable costs." The product costs are included in the costs of goods sold, which are displayed in the income statement, when products are sold.To learn more about product cost, refer to
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The acquisition of which territory doubled the size of the country, cost fifteen million dollars, and allowed for easier access to the mississippi river?.
In the Louisiana Purchase (1803), a land exchange involving the United States and France, the latter paid $15 million for around 827,000 square miles of land west of the Mississippi River.
Who doubled the territory of the US?A pact with France that more than doubled the size of the United States was approved by the Senate on October 20, 1803, under the leadership of President Thomas Jefferson.But did the Constitution give Jefferson the authority to strike the $15 million deal? For a young nation, the Louisiana Purchase was a turning point. the state of Louisiana ,But after being presented with Louisiana's whole territory, which is larger than the combined areas of Great Britain, France, Germany, Italy, Spain, and Portugal, the American negotiators quickly settled on a price of $15 million.To l;earn more about state of Louisiana refer to:
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a bank loans benjamin's ice cream $160,000 to remodel a building near campus to use as a new store. on their respective balance sheets, this loan is
Under the head Noncurrent liabilities and sub-head Long-term borrowings for the company which borrows the bank loan is shown in the Equity and Liabilities side of the balance sheet.
Loans and advances means any financial assets of a bank arising from a direct or indirect advance or commitment to advance funds by a bank to a person
The excess reserves will be lent out by the bank and it will keep some on hand. The money supply increases when that loan is made. Banks create money and increase the money supply. Money supply increases when a bank makes loans from excess reserves.
Therefore it can be said that loan is LIABILITY for Benjamin taken for remodeling but it is ASSET for Bank
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on average, an investor finds that their inflation premium is 2.8%, the coc is 5%, and their expected real return is 4.2%. assuming that the investment can be repeated with a failure rate of 25%, what should the risk premium be that is applied to the project to mitigate this risk of failure?
The risk premium be that is applied to the project to mitigate this risk of failure is 2%.
What do you mean by Project?A project is a brief endeavor to create a fresh and distinctive deliverable. A deliverable could be a physical good, a service, or the accomplishment of an expected result.
Given data,
Required return = 5%
Inflation premium = 2.8%
Real return = 4.2%
Calculation of Risk Premium :
Required return = Real rate of return + Expected Inflation premium + Risk premium
5% = 4.2% + 2.8% + Risk premium
Risk premium = 2%
Therefore, The risk premium be that is applied to the project to mitigate this risk of failure is 2%.
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john malone, cfa, manages pension funds at bna trust company. malone's wife is on the board of directors of barley corporation and owns 3% of its outstanding stock. bna trust's research division has recently recommended barley stock to its trust officers and pension fund portfolio managers. based on the cfa institute standards, malone?
John Malone, CFA, manages pension funds at BNA trust company. malone's wife is on the board of directors of barley corporation and owns 3% of its outstanding stock. based on the CFA institute standards, Malone may purchase the stock after disclosing his spouse’s ownership interest to his supervisor and to the trustees of the pension funds he manages. Option A
What are CFA institute standards?Generally, Carry out all interactions with the general public, clients, potential clients, employers, workers, colleagues in the investing profession, and other players in the global capital markets in a way that demonstrates integrity, competence, diligence, respect, and ethical behavior.
John Malone, a Certified Financial Analyst, is in charge of managing the pension funds at BNA trust firm. barley firm has appointed Malone's wife to its board of directors, and she also holds 3% of the company's total outstanding shares.
According to the criteria established by the CFA institution, Malone is eligible to make the acquisition of the shares after declaring the ownership interest of his spouse to both his direct supervisor and the trustees of the pension funds he oversees. Alternative A
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CQ
John Malone, CFA, manages pension funds at BNA Trust Company. Malone's wife is on the board of directors of Barley Corporation and owns 3% of its outstanding stock. BNA Trust's research division has recently recommended Barley stock to its trust officers and pension fund portfolio managers. Based on the CFA Institute Standards, Malone:
A) may purchase the stock after disclosing his spouse’s ownership interest to his supervisor and to the trustees of the pension funds he manages.
B) may not purchase the stock because he is not able to be unbiased and objective, given his spouse’s affiliation with Barley.
C) is free to act with no restrictions because he is not a beneficial owner of the Barley stock.
the regulations instituted by the united states governmental organization known as the sec make sure that managers do not misrepresent financial information and require that the accounts be audited by an independent, accredited accounting firm are also instituted in most other developed nations. a. true b. false
It is TRUE that, The regulations instituted by the United States governmental organization known as the SEC make sure that managers do not misrepresent financial information.
And require that the accounts be audited by an independent, accredited accounting firm are also instituted in most other developed nations.
The U.S. Securities and Exchange Commission (SEC) is an independent federal government regulatory organization tasked with fostering capital formation, preserving the fair and orderly operation of the securities markets, and safeguarding investors. As the initial federal regulator of the securities markets, it was established by Congress in 1934. The Securities and Exchange Commission (SEC) supports complete public disclosure, defends investors from dishonest and market-manipulating actions, and keeps an eye on corporate takeover activities in the country. Additionally, it approves registration forms for bookrunners among underwriting companies.
In general, securities offerings made in interstate commerce, via mail, or online must be registered with the Securities and Exchange Commission (SEC) prior to being sold to investors.
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Suppose that using the centroid method you found the best location for a communications tower. The location happens to be in the middle of a pond. Then, you should locate the tower.
Using the centroid method, You should locate the tower after considering qualitative factors like geography, roads and utilities to help find the exact location.
What is centroid method?Businesses can locate facilities utilized for manufacturing and other production-related activities by using the centroid approach. This approach's ultimate purpose is to employ mathematical formulations to reduce shipping costs, shipment times, or both in relation to profits.
To apply the centroid approach correctly, you must first identify the facilities that will be mapped against the new facility. Next, locate these facilities' coordinates by mapping them on a two-dimensional grid, such as graph paper or an analogous software mapping system.
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a company issued a check to replenish its petty cash fund. an analysis of payments from the fund showed only one payment of $50 for delivery expense. the replenishment would be recorded with a: multiple select question. debit to cash credit to delivery expense credit to cash debit to delivery expense credit to petty cash debit to petty cash
For the replenishment of the petty money account the dollars are transferred from the money account to the petty money account.
And hence there is a decrease in the balance of money account. This minimize in cash balance is recorded by means of crediting the money account. So, the correct reply is credit to cash.
What is replenishment in accounting?Replenish ability to return the amount of genuine cash in the petty cash field returned to the amount appearing in the widely wide-spread ledger account Petty Cash. This is carried out on every occasion the quantity of actual money in the petty money box is low and at the stop of each accounting period.
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The selling price of the goods is $595.
A buyer's cost to acquire a good or service is known as the selling price. It can differ based on what customers are prepared to pay, what the seller will take, and how competitive the pricing is in relation to those of other companies in the market.
The amount charged for a product in a certain category on various markets and distribution channels is known as the average selling price (ASP). This measure is frequently impacted by the kind of product and how long it lasts. The amount charged for a product in a certain category on various markets and distribution channels is known as the average selling price (ASP). Divide the overall revenue from the product or service by two to determine the average selling price.
Correct question :
On October 5, Sage Hill Company buys merchandise on account from Oriole Company. The selling price of the goods is $5,540, and the cost to Oriole Company is $3,500. On October 8, Sage Hill returns defective goods with a selling price of $900 and a scrap value of $340, Record the transactions of Sage Hill Company, assuming a perpetual approach. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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assume that the current corporate bond yield curve is upward sloping, or normal. under this condition, we could be sure that:
Maturity risk premiums could help to explain the yield curve's upward slope.
What is normal yield curve?
A yield curve known as the "normal yield curve" is one in which short-term debt instruments yield less than long-term debt instruments of equivalent credit grade. A yield curve that slopes higher denotes a potential rise in interest rates. Future interest rates will decline, according to a yield curve that slopes downward.What is the yield curve and why is it important?
The transmission of monetary policy relies heavily on the yield curve, making it a crucial economic indicator. a source of information concerning predictions made by investors about inflation, economic growth, and interest rates in the future. a factor that affects banks' profitability.Learn more about yield curve.
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A profit-maximizing perfectly competitive industry will be ______________ in the short run.
A completely competitive sector that maximizes profits will immediately sell in large volumes in the short run.
Explain about the perfectly competitive industry?The following conditions are considered to be present for a firm to be in ideal competition: Numerous businesses produce the same goods. Both buyers and sellers can find the goods which is accessible for purchase.
Perfect competition is characterized by three key factors: (1) the absence of any significant market dominance; (2) standardisation of industry output; and (3) freedom of entry and exit. If there is perfect competition, the efficient market equilibrium occurs when marginal revenue and marginal cost are equal.
There is no such thing as an ideal market. There is more rivalry in some markets than others. There isn't a single instance of a market in the real world that displays perfect competition.
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in order to expand its business, mueller inc. is borrowing $1 million from its bank. mueller is utilizing this type of financing:
In order to expand its business, Mueller inc. is borrowing $1 million from its bank. Mueller is utilizing this type of financing called Debt.
Finance is the study and discipline of money, currency, and capital assets. Related, but not synonymous, with economics, the study of the production, distribution, and consumption of money, assets, goods, and services. It is the process of directing various funds in the form of credits, loans, or invested capital to the entities that need them most or can use them most productively.
Finance is important in strengthening a company's finances as it helps the company to take risks and grow. In the past, companies could do whatever they wanted without financial assistance. But now, with the use of technology and increased globalization, businesses are becoming more and more dependent on money to achieve their goals.
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Your friend sees your answer to #1 and assumes that each of those people is using their credit card or a loan regularly. Why is your friend incorrect?.
To get a high credit score, you need to be consistent with your debt repayments since you started borrowing. So your friend is wrong to assume that everyone who hasn't made a payment in a year has a high credit score because your friend doesn't count the previous years.
Some of them may for one reason or another have been late or delayed with previous loan, but were able to continue with new payments in 2015. Although this would improve their credit rating, it would remain low due to activities from previous years. dropped it.
What is credit score?A credit score is a number between 300 and 850 that assesses a consumer's creditworthiness. The higher the score, the better the borrower is to potential lenders. Credit score is based on credit history number of open accounts, total debt, repayment and other factors. Credit scores are used by lenders to assess a person's likelihood of repaying loans on time.
There are several different credit agencies in the United States, but only three are of national importance:
EquifaxExperian TransUnionThis trio dominates the market for collecting, analysing and sharing credit consumer information.
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merchandise is sold for cash. the selling price of the merchandise is $2,600, and the sale is subject to a 6% state sales tax. the journal entry for the sale would include a credit to
The journal entry for the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
The government levies a consumption tax known as a sales tax on the purchase of goods and services. At the point of sale, a standard sales tax is imposed, collected by the retailer, and paid to the government. Companies must first apply for a sales tax permit from their state's department of taxation in order to be able to collect sales tax from customers. Every time a customer makes a purchase, businesses collect sales tax, which they subsequently monthly or quarterly send to the state.
As the selling price of the merchandise is $2,600 and the state sales tax is 6%, this means that 6% of $2,600 has to be paid to the state governing body.
Sales tax = 6% of 2600
Sales tax = 6/100 × 2600
Sales tax = 0.06 × 2600
Sales tax = $156
Therefore; the entry to journalize the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
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