Cantrell company is required by law to collect and remit sales taxes to the state. if cantrell has $8,500 of cash sales that are subject to an 7% sales tax what is the journal entry to record the cash sales?
a) debit cash $8,500, credit sales $7.905: credit sales taxes payable $595.
b) debit sales taxes payable $595; debit cash $7.905: credit sales $8,500.
c) debit cash $9,095 credit sales $8,500; credit sales taxes payable $595
d) debit accounts receivable $9,095; credit sales $8.500; credit sales taxes payable $595.
e) debit cash $8,500, credit sales $8.500; and record the taxes when paid.

You are the manager in charge of global operations at bankglobal – a large commercial bank that operates in a number of countries around the world. you must decide whether or not to launch a new advertising campaign in the u. s. market. your accounting department has provided the accompanying statement, which summarizes the financial impact of the advertising campaign on u. s. operations. in addition, you recently received a call from a colleague in charge of foreign operations, and she indicated that her unit would lose $8 million if the u. s. advertising campaign were launched. your goal is to maximize bankglobal’s value. should you launch the new campaign? explain. pre-advertising campaign post-advertising campaign total revenues $18,610,900 $31,980,200 variable cost tv airtime 5,750,350 8,610,400 ad development labor 1,960,580 3,102,450 total variable costs 7,710,930 11,712,850 direct fixed cost depreciation – computer equipment 1,500,000 1,500,000 total direct fixed cost 1,500,000 1,500,000 indirect fixed cost managerial salaries 8,458,100 8,458,100 office supplies 2,003,500 2,003,500 total indirect fixed cost $10,461,600 $10,461,600

Your uncle borrows $53,000 from the bank at 11 percent interest over the nine-year life of the loan. use appendix d for an approximate answer but calculate your final answer using the formula and financial calculator methods. what equal annual payments must be made to discharge the loan, plus pay the bank its required rate of interest

Which of the following is an element of inventory holding costs? a. material handling costs b. investment costs c. housing costs d. pilferage, scrap, and obsolescence e. all of the above are elements of inventory holding costs.