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The amount of bad debt expense can be estimated by?
Percent of sales is only one method. The other is an analysis of the receivables, either as a percent of total receivables, or doing an aging analysis first.
Does a purchases journal record sales on account?
Purchase journal only records and deals in with purchases and don't deal with sales items.
Does gross sales include tips?
Gross sales does not include tips, only money directly from sales. However, total gross receipts does include tips, usually figured to be about 8 percent or the total.
Is the 3.5 percent sales tax rate in vineland NJ for residents only?
No, anyone shopping in Vineland pays 3.5%.
What tax is paid by businesses only?
sales tax sales tax!
The amount of bad debt expense can be estimated by?
Percent of sales is only one method. The other is an analysis of the receivables, either as a percent of total receivables, or doing an aging analysis first.
Proprietorships are owned by one owner and provide only services to their customers?
false
Does a purchases journal record sales on account?
Purchase journal only records and deals in with purchases and don't deal with sales items.
Does gross sales include tips?
Gross sales does not include tips, only money directly from sales. However, total gross receipts does include tips, usually figured to be about 8 percent or the total.
What percentage of sales in a liquor store are cash?
The percentage of cash sales in a liquor store varies depending on the store and location. Some liquor stores only accept cash while others may only accept credit or debit cards if a sale reaches a certain amount. Cash sales can usually be as high as 70 percent to 100 percent.
Does sales return and allowances go on the statement of earnings?
--> another term for Statement of Earnings is Income Statement --> in income statement, you deduct the Sales Return & Allowances from the Gross Sales to come up with Net Sales --> in presentation purposes, usually it is only the Net Sales account that is shown
Is the 3.5 percent sales tax rate in vineland NJ for residents only?
No, anyone shopping in Vineland pays 3.5%.
What was the total value of sales for store fixtures in 2000?
Sales of store fixtures reached nearly $8.7 billion in 2000, with about half coming from sales of wood fixtures. Of the 2,300 companies that manufacture fixtures, only about 25 percent of them concentrate on fixtures exclusively.
What percentage of marketing is internet?
According to an article I have read the Internet now accounts for only about 16 percent of direct marketing-driven sales.
How may electrical contractors be said to have branched into systems work?
By 1999 standard electrical work accounted for only 60 percent of industry sales, with systems work accounting for 33.5 percent, and the remaining 6.5 percent classed as other.
What is the sales tax for ALBERTA Canada?
5 percent.Every province except Alberta has implemented either a provincial sales tax or the Harmonized Sales Tax. The federal GST rate is 5 percent, effective January 1, 2008. The territories of Yukon, Northwest Territories, and Nunavut have no territorial sales taxes, so only the GST is collected.
What tax is paid by businesses only?
sales tax sales tax!
