In the month of July, a convenience store had total sales of $118,000 from its gas pumps and other in-store products. If HST is 17% of sales, how much HST was collected on the in-store products if these sales represent 31% of total sales? (Round your answer to 2 decimal places.) HST collected on in-store products
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- In the month of July, a convenience store had total sales of $102, 300 from its gas pumps and other in-store products. If HST is 13% of sales, how much HST was collected on the in-store products if these sales represent 36% of total sales?Total sales for Appliance Center were $205,000 for the week. These sales included a 6% sales tax. What were the actual sales? (Round your answer to the nearest cent.) Actual SalesA seller of goods had the following data during the month.Total Sales Invoice (billed price) Php 224,000Gross receipts, including VAT 201,600Sales returns and allowances, billed price 11,200Input VAT 12,000 How much is the VAT payable?
- Klum's Fashions sold merchandise for $45,000 cash during the month of July. Returns that month totaled $1,000. If the company's gross profit rate is 40%, Compute the following: a) Net sales revenue b) Cost of goods soldIn August, Joplin Designs sold $510,000 of merchandise; all sales were in cash.The cost of sales for August was $400,000. Based on past experience, Joplin uses an estimatedreturn rate of 3% of sales. Record the journal entries for the monthly sales, cost of sales,estimated returns, and cost of estimated returns for August.At the beginning of the year, the inventory of a convenience store was 189,950. The purchases made during the year amounted to 90,460.00. the ending inventory wqs 86,780. its salary expenses amounted to 325,450.00, and its rental expense was 420,000. The store owner also collected 135,200 for utilities. the store also received sales returns worth P50,000. The total sales of the convenience store was p1,875,500. what is the net profit/loss of the convenience store?
- At the end of the year Stan Still Stationery Store had the following balances: Sales $485,000; Sales Discounts $2,540; Sales Returns and Allowances $14,280; Sales Salaries Expense $54,000. The Net Sales for the year are: Multiple ChoiceThe Happy Auto Shop has the following annual information: Gross Sales, $700,000; Net Sales, $696,000; Gross Profit, $448,000. What are the shop’s returns and allowances and cost of goods sold? Give an overall detailed response.Last month The Sweet Tooth Candy Shops had total sales, including sales tax, of $51,889. The stores are located in a state that has a sales tax of 6-%. (Round your answers to the nearest cent.) (a) As the accountant for The Sweet Tooth, calculate the amount of sales revenue (in $) for the shops last month. $4 (b) As the accountant for The Sweet Tooth, calculate the amount of sales taxes (in $) that must be sent to the state Department of Revenue. $4
- You work for XYZ Ltd. It sells gift cards. For the month of June 2023, total gift card sales were $10,000. 30% of gift cards were used during the month of July. What are the entries in June and July?In August, Designs sold 520000 of merchandise; all sales were in cash. The cost of sales for august was 380000. Based on past experience, uses an estimated return rate of 2% of sales. Record the journal entries for the monthly sales, cost of sales, estimated returns, and cost of estimated returns for .Last month The Sweet Tooth Candy Shops had total sales, including sales tax, of $54,889. The stores are located in a state that has a sales tax of 7 1/2%. (Round your answers to the nearest cent.) (a)As the accountant for The Sweet Tooth, calculate the amount of sales revenue (in $) for the shops last month. (b)As the accountant for The Sweet Tooth, calculate the amount of sales taxes (in $) that must be sent to the state Department of Revenue.