Sales Tax Percentages
Pennsylvania
6%
Received cash on account is recorded in which journal?
Cash Receipts Journal
Goods that a business purchases to sell
Merchandise
What is the name of the documentary that chronicles the downfall of Enron?
The Smartest Guys in the Room
Pittsburgh and Philadelphia
7% and 8%
Recorded Cash and Credit Card Sales is recorded in which journal?
Cash Receipts Journal
Customer pays total amount at time of transaction
Cash Sale
What happened to Enron in the end?
It went bankrupt.
Delaware
0%
Sold merchandise on account is recorded in which journal?
Sales Journal
Amount a business receives from the sale of an item of merchandise
Selling price
At its peak, how large of a corporation was Enron? (Top 500, 200, 50 or 10)
7th largest in the US.
New York
4%
If you sold merchandise on account to Mr. Belolan, $1,000, plus 6% sales tax...what is the Sales Tax in dollars?
$60
Sale that is tracked on a customer
Credit Card Sale
What did Enron do in California that impacted millions of innocent people?
Shut down energy.
New York City
8.875%
If you sold merchandise on account to Mr. Miller, $200, and there is $12 in Sales Tax...what is the Accounts Receivable Debit?
$212
amount a business adds to the cost of merchandise to establish the selling price
Markup
Double Jeopardy! Did any Enron Executives not serve jail time? If so, who?
Lou Pai