Essay
Moreno Company began 2016 with a balance of $300 in Sales Tax payable.During the year,the company recorded taxable sales of $92,500.The ending balance in Sales Tax payable was $445 Moreno's sales tax rate is 4%.
a)How much sales tax did Moreno collect during 2016?
b)How much sales tax did Moreno pay during 2016?
Correct Answer:
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a)$92,500 * 4% = $3,...View Answer
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Correct Answer:
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