Business Accounting Accounting questions and answers Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $12,000 of cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales? If Cantrell has $10,000 of cash sales that are subject to an 10% sales tax, what is the journal entry to record the cash sales? when paid. (Use 360 days a year. Debit Sales Taxes Payable $770; debit Cash $10,230; credit Sales We further specialize in the sale of middle market properties that do not sell themselves and need the promotional expertise and match making abilities of an experienced broker. Preparation of the journal entry to record the cash sales for Cantrell Company. Measures approximately 15" x 7" x 14". must meet certain other conditions, such as reporting adverse events and providing the FDA with certain information about the products they compound. What are the most common marketing channels for consumer products? Debit Cash $8,640 Credit Sales $8,000 Credit Sales Taxes Payable $640 ESTIMATE: $1,600.00-$1,900.00. This item requires special handling and may have a longer than usual turnaround. If Cantrell has $11,000 of cash sales that are Assuming the asset is sold on July 1, Year 7 for $52,000, What is the critical value, t , for a 99% confidence interval with a sample size of 22? Debit Cash $11,770; credit Sales $11,000; credit Sales Taxes 4. process your bookings and refunds. 6. comply with legal obligations to which we are subject and cooperate with regulators and law enforcement bodies and for . Obligations to be paid within one year or the company's operating cycle, whichever is longer, are: Multiple Choice Current assets. Cantrell company is required by law to collect and remit sales taxes to the state. On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $9,900. Since Cantrell Company is been required to receive and remit the sales taxes in which If Cantrell has $4,500 of cash sales that are subject to an 6% sales tax this means we have to Debit Cash $4,770, Credit Sales $4,500 and Credit Sales Taxes Payable 270. If Cantrell has $8,000 of cash sales that are subjected to an 8% sales tax, what is the journal entry to record the cash sales? 2-4 Use of social media is increasing among all age groups but is still . If Cant . If Cantrell has $9,500 of cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales? Our Experts can answer your tough homework and study questions. If Cantrell has $11,000 of cash sales that are subject to an 7% sales tax, what is the journal entry to record the cash sales? Debit Sales Taxes Payable $770; debit Cash $10,230. Debit Cash $11,000; credit Sales $11,000; and record the taxes The Drug Quality and Security Act, signed into law on Nov. 27, 2013, added a new section -- 503B to the FD&C Act. Debit Cash $7,000; credit Sales $7,000; and record the taxes when paid. Debit Accounts Receivable $13, 750; Credit Sales $12, 500; Credit Sales Taxes Payable $1, 250. School Boston University; Course Title AD 632; Uploaded By jdamato05. If Cantrell has $4,500 of cash sales that are subject to an 6% sales tax, what is the journal entry to record the cash sales. Cantrell Company is required by law to collect and remit sales taxes to the state. what is the journal entry to record the cash sales.png - Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $10,000 of cash sales that aresubject to an 10% sales tax, what is the journal entry to recordthe cash sales? ScholarOn, 10685-B Hazelhurst Dr. # 25977, Houston, TX 77043,USA. Our Mission is to provide investors of apartment . If Cantrell has $7,000 of cash sales that are subject to an 6% sales tax, what is the journal entry to record the cash sales? Workplace Enterprise Fintech China Policy Newsletters Braintrust mint mobile vs cricket Events Careers boarding diary chapter 14 english If Cantrell Has $12, 500 Of Cash Sales That Are Subject To An 10% Sales Tax, What Is The Journal Entry To Record The Cash Sales? Cantrell Company is required by law to collect and remit sales taxes to the state. Payable $770. Citation and references are required. If Cantrell has $11,000 of cash sales that are Debit Cash $11,000; credit Sales $11,000; and record the taxes program. a Debit Accounts Receivable $11,340; credit Sales $10,500; credit Sales Taxes Payable $840. Current liabilities. Debit Cash $11,000; credit Sales $10,230; credit Sales Taxes Which one of the Big 5 personality traits falls into Extraversion- Introversion Myers-Briggs Type? Cantrell Company Is Required By Law To Collect And Remit Sales Taxes To The State. Cantrell Company is required by law to collect and remit sales taxes to the state. The asset is being depreciated $300 per month using the straight-line method. Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. Multiple Choice U.S. District Judge Kristine G. Baker for the Eastern District of Arkansas entered a consent decree of permanent injunction today between the U.S. and Cantrell Drug Company of Little Rock, Arkansas, and the companys Chief Executive Officer and co-owner, James L. McCarley, Jr. Under the consent decree, Cantrell cannot resume operations until it receives authorization from the FDA. Experts are tested by Chegg as specialists in their subject area. "Spirit Flight" is a limited edition mixed media lucite sculpture by Kitty Cantrell. 5. process any promotions or loyalty point campaigns associated with your booking. Well continue to take action against compounders who produce drugs under substandard conditions and put the health of patients at risk.. taxes to the state. Cantrell Company is required by law to collect and send sales Course Hero is not sponsored or endorsed by any college or university. cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales? (Solved): 11 points Cantrell Company is required by law to collect and send sales taxes to the state. Cantrell Company is required by law to collect and remit sales taxes to the state. Debit to Medical Insurance Payable $16,000. Payable $770. If Cantrell has $10,500 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales? The entry to record the accrued benefits for the month would include a: Debit to Employee Benefits Expense $22,400.=. The community bank services only local customers. Spirit Flight by Cantrell, Kitty. What is the major difference between a nationwide bank and a community bank? The Cantrell Company specializes in the listing and sale of multifamily properties in the Texas and Oklahoma markets. The complaint was filed by the U.S. Department of Justice on behalf of the FDA. Cantrell Company is required by law to collect and remit sales taxes to the state. cash sales? Cantrell Company is required by law to collect and remit sales taxes to the state. Test yourself 32 cantrell company is required by law. Q: Cantrell Company Is Required By Law To Collect And Remit Sales Taxes To The State. . The site is secure. Cantrell Company is required by law to collect and remit sales taxes to the state. You can specify conditions of storing and accessing cookies in your browser, Cantrell Company is required by law to collect and remit sales taxes to the state. Pages 62 Ratings 100% (2) 2 out of 2 people found this document helpful; The asset is being depreciated $1,000 per month using the straight-line method. cash sales? The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. If Cantrell has $5,500 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales? If Cantrell has $7,000 of cash sales that are subject to an 6% sales tax, what is the journal entry to record the cash sales? industrial products? Sales Taxes Payable $770. If Cantrell has $12, 500 of cash sales that are subject to an 10% sales tax, what is the Journal entry to record the cash sales? Earned revenues. Sales Taxes Payable = $4,500 0.06= $270, This site is using cookies under cookie policy . Generally Accepted Accounting Principles. The consent decree prohibits Cantrell and McCarley from manufacturing, processing, packing, holding, or distributing drugs until they comply with the Federal Food, Drug, and Cosmetic Act (FD&C Act) and FDA regulations, in addition to other requirements. Cantrell Company is required by law to collect and remit sales taxes to the state. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Cantrell Company is required by law to collect and remit sales taxes to the state. Ms Amps estimate that the fixed costs are $96, If Cantrell has $8,000 of cash sales that are subjected to an 8% sales tax, what is the journal entry to record the cash sales? matrix algebra calculator; valspar fresh cotton rare disease conferences 2022 rare disease conferences 2022 Equal and Uniform vs. "Sales Chasing" By: Robert McCulloch, Cantrell McCulloch, Inc. . 50-state summary. (600 characters/words) REFORM AND REVOLUTION by Ambeth. . Multiple Choice Debit Cash $11,000; credit Sales $11,000; and record the taxes when paid. What is, the maturity value of the note on March 1? This E-mail is already registered with us. Kindly login to access the content at no cost. Debit Accounts Receivable $11,770; credit Sales $11,000; credit Current liabilities. 1. wide bank services only local customers. The Cantrell Company : April 2007. 1. Assuming the asset is sold on July 1, Year 7 for $14,200, the, From the article below, devise your position paper supported by facts. when paid. Debit Cash $8,640; credit Sales $8,000; credit Sales Taxes Payable $640. This preview shows page 21 - 22 out of 22 pages. The evolution of the media landscape over the past two decades has altered the delivery of many public education campaigns. 2. improve our services to provide you with better products. Wells Technical Institute (WTI)provides training to individuals who pay tuition, An asset's book value is $21,600 on January 1, Year 6. ), This textbook can be purchased at www.amazon.com, Athena Company provides employee health insurance that costs $16,000 per month. Cantrell Company is required by law to collect and remit sales taxes to the, 9 out of 10 people found this document helpful. Debit cash $8, 640; credit Sales $8,000; credit taxes Payable $640. Debit Accounts Receivable $13, 750; credit Sales $12, 500; credit Sales Taxes Payable $1, 250. NEED HELP ASAP!!!!!!! Cantrell Company is required by law to collect and remit salestaxes to the state. We review their content and use your feedback to keep the quality high. Cantrell Company is required by law to collect and remit sales taxes to the state. Cantrell Company is required by law to collect and remit sales taxes to the state. (Agree or Disagree to the writer?) The agency also is responsible for the safety and security of our nations food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products. Cantrell Company Is Required By Law To Collect And Remit Sales Taxes To The State. The .gov means its official.Federal government websites often end in .gov or .mil. Under section 503B, a compounder can elect to register as an outsourcing facility. Cantrell Company is required by law to collect and send sales If Cantrell has $8,000 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales? Obligations not expected to be paid within the longer of one year or the company's operating cycle are reported as: Cantrell Company required by law to collect and remit salestaxes, Cantrell Company required by law to collect and remit salestaxes : 1121658. taxes to the state. C) Debit Cash $9,095 credit Sales $8,500; credit Sales Taxes Payable $595 . If Cantrell has $10,000 of cash sales that aresubject to an 10% sales tax, what is the journal entry to recordthe cash sales? 2003-2022 Chegg Inc. All rights reserved. Drugs that are prepared, packed or held under insanitary conditions whereby they may have become contaminated with filth or rendered injurious to health are adulterated under the FD&C Act. The consent decree requires Cantrell to cease operations until it completes corrective actions, including hiring a qualified independent expert to inspect its facility to ensure the company is complying with the FD&C Act and CGMP requirements. Outsourcing facilities must comply with CGMP requirements, are inspected by the FDA according to a risk-based schedule and subject to an 7% sales tax, what is the journal entry to record the The community bank offers more services. 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? Question: Cantrell Company is required by law to collect and send sales taxes to the state. Cantrell is registered as an outsourcing facility under section 503B of the FD&C Act. Debit Notes, Required information Skip to question [The following information applies to the questions displayed below.] As a public health agency, the FDA is committed to fully implementing the Drug Quality and Security Act for compounded drugs set forth by Congress that helps ensure compounded drugs are made under appropriate production standards, said FDA Commissioner Scott Gottlieb, M.D. Before sharing sensitive information, make sure you're on a federal government site. Accounts payable are: Cantrell Company is required by law to collect and remit salestaxes to the state. The complaint filed with the consent decree alleges that Cantrell manufactured and distributed purportedly sterile drug products, such as injectable opioids and antibiotics, that were adulterated under the FD&C Act because the drugs were made under insanitary conditions and in violation of current good manufacturing practice (CGMP) requirements. September 2022 The Cantrell Report : August 2022 The Cantrell Report : July 2022 The Cantrell Report : . Explanation: Since Cantrell Company is been required to receive and remit the sales taxes in which If Cantrell has $4,500 of cash sales that are subject to an 6% sales tax this means we have to Debit Cash $4,770, Credit Sales $4,500 and Credit Sales Taxes Payable 270. Test Yourself 32 Cantrell Company is required by law to collect and remit sales. If Cantrell has $9,500 of cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales? Bills. Credit to Employee Benefits Expense $16,000. Debit Cash $7,000; credit Sales $7,000; and record the taxes when paid. Kindly login to access the content at no cost. This web page documents state laws in a limited number of areas related to data privacy, digital privacy and internet privacy : website privacy policies, privacy of online book downloads and reader browsing information, personal information held by Internet service providers, online marketing of certain products directed to minors, and employee email monitoring. The consent decree prohibits Cantrell and McCarley from manufacturing, processing, packing, holding, or distributing drugs until they comply with the Federal Food, Drug, and Cosmetic Act (FD&C Act . The nation 2.074 2.819 2.831 2.08. For Debit Sales Taxes Payable $420; debit Cash $6,580; credit Sales . 483 Issued 06/29/2017, Warning letter: Cantrell Drug Company 1/21/15. Define and give examples of John Maxwell's 5 levels of leadership discussed in class., Shock Electronics sells portable heaters for $33 per unit and the variable cost to produce them is $21. 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Debit cash $8, 640; credit Sales $8,000; credit taxes Payable $640. Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. If Cantrell has $8,000 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales? Engraved with the artists signature and number, this piece comes with a certificate of authenticity. ( Required fields are red) Salutation: First Name: Last Name: Company Name: Your Role: Email Address . 5.6- An asset's book value is $72,000 on January 1, Year 6. The nationwide bank has fewer branches. Compounder prohibited from manufacturing and distributing sterile drug products in violation of law, An official website of the United States government, Recalls, Market Withdrawals and Safety Alerts, Federal judge enters consent decree against Cantrell Drug Company, Compounding: Inspections, Recalls and Other Actions, FDA alerts health care professionals and patients not to use compounded drugs from Cantrell Drug Company; agency seeks action to stop production and distribution, Cantrell Drug Company Issues Voluntary Nationwide Recall of All Sterile Drug Products Due to Lack of Sterility Assurance, Cantrell Drug Company, Little Rock, AR, 483 Issued 03/22/2018, Cantrell Drug Company, Little Rock, AR. The Sales Taxes Payable will be : Sales Sales Tax Rate In addition, the, company contributes an amount equal to 4% of the employees' $160,000 gross salary to a retirement. Cantrell Company is required by law to collect and remit sales taxes to the state. Debit Sales taxes Payable $640; debit Cash $7, 360; credit Sales . This E-mail is already registered as a Premium Member with us. If Cantrell | Course Hero American River College ACCT ACCT 301 what is the journal entry to record the cash sales.png - Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $9,500 of. Debit Accounts Receivable $13, 750;. 11 points Cantrell Company is required by law to collect and send sales taxes to the state. Debit to Employee Retirement Program Payable $6,400. If Cantrell Has $12, 500 Of Cash Sales That Are Subject To An 10% Sales Tax, What Is The Journal Entry To Record The Cash Sales? Operating cycle liabilities. An increasing proportion of campaign advertising is now delivered partially or fully online to adolescent and young adult audiences, among whom the internet and smartphone use is nearly ubiquitous. 3. deal with your enquiries and requests. Cantrell Company is required by law to collect and remit sales taxes to the state. subject to an 7% sales tax, what is the journal entry to record the The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. 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