Equal and Uniform vs. "Sales Chasing" By: Robert McCulloch, Cantrell McCulloch, Inc. . Cantrell Company required by law to collect and remit salestaxes, Cantrell Company required by law to collect and remit salestaxes : 1121658. Cantrell Company Is Required By Law To Collect And Remit Sales Taxes To The State. 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. The complaint was filed by the U.S. Department of Justice on behalf of the FDA. Under section 503B, a compounder can elect to register as an outsourcing facility. subject to an 7% sales tax, what is the journal entry to record the 2. improve our services to provide you with better products. In addition, the, company contributes an amount equal to 4% of the employees' $160,000 gross salary to a retirement. 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? 11 points Cantrell Company is required by law to collect and send sales taxes to the state. Question: Cantrell Company is required by law to collect and send sales taxes to the state. 2.074 2.819 2.831 2.08. 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? 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? ESTIMATE: $1,600.00-$1,900.00. Cantrell Company is required by law to collect and send sales What are the most common marketing channels for consumer products? Debit Cash $8,640 Credit Sales $8,000 Credit Sales Taxes Payable $640 4. process your bookings and refunds. 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. Accounts payable are: 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. The nation 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. (600 characters/words) REFORM AND REVOLUTION by Ambeth. The .gov means its official.Federal government websites often end in .gov or .mil. 3. deal with your enquiries and requests. must meet certain other conditions, such as reporting adverse events and providing the FDA with certain information about the products they compound. 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? 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. Cantrell Company is required by law to collect and send sales You'll get a detailed solution from a subject matter expert that helps you learn core concepts. The Cantrell Company : April 2007. ( Required fields are red) Salutation: First Name: Last Name: Company Name: Your Role: Email Address . This preview shows page 21 - 22 out of 22 pages. School Boston University; Course Title AD 632; Uploaded By jdamato05. Cantrell Company is required by law to collect and remit sales taxes to the state. 5. process any promotions or loyalty point campaigns associated with your booking. when paid. industrial products? Pages 62 Ratings 100% (2) 2 out of 2 people found this document helpful; NEED HELP ASAP!!!!!!! Workplace Enterprise Fintech China Policy Newsletters Braintrust mint mobile vs cricket Events Careers boarding diary chapter 14 english 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. 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. 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. 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. Our Experts can answer your tough homework and study questions. The entry to record the accrued benefits for the month would include a: Debit to Employee Benefits Expense $22,400.=. Business Accounting Accounting questions and answers 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. program. Course Hero is not sponsored or endorsed by any college or university. 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. 1. The Cantrell Company specializes in the listing and sale of multifamily properties in the Texas and Oklahoma markets. C) Debit Cash $9,095 credit Sales $8,500; credit Sales Taxes Payable $595 . Debit Cash $11,000; credit Sales $11,000; and record the taxes Generally Accepted Accounting Principles. Cantrell Company is required by law to collect and remit sales taxes to the state. . Outsourcing facilities must comply with CGMP requirements, are inspected by the FDA according to a risk-based schedule and Cantrell Company is required by law to collect and remit sales taxes to the state. matrix algebra calculator; valspar fresh cotton rare disease conferences 2022 rare disease conferences 2022 Debit Accounts Receivable $13, 750; credit Sales $12, 500; credit Sales Taxes Payable $1, 250. Cantrell Company is required by law to collect and remit salestaxes to the state. Debit Sales Taxes Payable $770; debit Cash $10,230. wide bank services only local customers. The site is secure. 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? Kindly login to access the content at no cost. Cantrell Company is required by law to collect and remit sales taxes to the state. Debit Notes, Required information Skip to question [The following information applies to the questions displayed below.] 483 Issued 06/29/2017, Warning letter: Cantrell Drug Company 1/21/15. What is, the maturity value of the note on March 1? Under the consent decree, Cantrell cannot resume operations until it receives authorization from the FDA. If Cantrell has $11,000 of cash sales that are The Sales Taxes Payable will be : Sales Sales Tax Rate Engraved with the artists signature and number, this piece comes with a certificate of authenticity. Multiple Choice Debit Cash $11,000; credit Sales $11,000; and record the taxes when paid. 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? taxes to the state. Operating cycle liabilities. 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. Spirit Flight by Cantrell, Kitty. 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? 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. For cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales? Citation and references are required. The evolution of the media landscape over the past two decades has altered the delivery of many public education campaigns. If Cantrell has $9,500 of. Wells Technical Institute (WTI)provides training to individuals who pay tuition, An asset's book value is $21,600 on January 1, Year 6. 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? Sales Taxes Payable $770. Kindly login to access the content at no cost. 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? "Spirit Flight" is a limited edition mixed media lucite sculpture by Kitty Cantrell. Cantrell is registered as an outsourcing facility under section 503B of the FD&C Act. Earned revenues. The asset is being depreciated $1,000 per month using the straight-line method. On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $9,900. Debit Cash $11,000; credit Sales $11,000; and record the taxes Test yourself 32 cantrell company is required by law. 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. Debit Cash $11,770; credit Sales $11,000; credit Sales Taxes 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. Debit Cash $7,000; credit Sales $7,000; and record the taxes when paid. Sales Taxes Payable = $4,500 0.06= $270, This site is using cookies under cookie policy . 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? (Agree or Disagree to the writer?) We review their content and use your feedback to keep the quality high. 50-state summary. 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. Cantrell Company is required by law to collect and remit sales taxes to the state. Measures approximately 15" x 7" x 14". The community bank services only local customers. Cantrell Company is required by law to collect and remit sales taxes to the, 9 out of 10 people found this document helpful. 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. 6. comply with legal obligations to which we are subject and cooperate with regulators and law enforcement bodies and for . Payable $770. 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? taxes to the state. Debit Sales Taxes Payable $420; debit Cash $6,580; credit Sales . Obligations not expected to be paid within the longer of one year or the company's operating cycle are reported as: 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. Credit to Employee Benefits Expense $16,000. Debit cash $8, 640; credit Sales $8,000; credit taxes Payable $640. Debit Cash $7,000; credit Sales $7,000; and record the taxes when paid. . when paid. 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. Obligations to be paid within one year or the company's operating cycle, whichever is longer, are: Multiple Choice Current assets. 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. This E-mail is already registered as a Premium Member with us. Well continue to take action against compounders who produce drugs under substandard conditions and put the health of patients at risk.. a Debit Accounts Receivable $11,340; credit Sales $10,500; credit Sales Taxes Payable $840. Debit Cash $8,640; credit Sales $8,000; credit Sales Taxes Payable $640. 5.6- An asset's book value is $72,000 on January 1, Year 6. 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. 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. Debit cash $8, 640; credit Sales $8,000; credit taxes Payable $640. Multiple Choice The community bank offers more services. Debit Accounts Receivable $11,770; credit Sales $11,000; credit $11,000. Current liabilities. 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. Before sharing sensitive information, make sure you're on a federal government site. Debit Sales Taxes Payable $770; debit Cash $10,230; credit 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? Cantrell Company is required by law to collect and remit sales taxes to the state. If the note is dishonored, what entry should Uniform Supply make on January 15 of the next year? cash sales? subject to an 7% sales tax, what is the journal entry to record the Which one of the Big 5 personality traits falls into Extraversion- Introversion Myers-Briggs Type? The Drug Quality and Security Act, signed into law on Nov. 27, 2013, added a new section -- 503B to the FD&C Act. Cantrell Company is required by law to collect and remit sales taxes to the state. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. If Cantrell has $11,000 of cash sales that are 2-4 Use of social media is increasing among all age groups but is still . Debit to Medical Insurance Payable $16,000. Debit Accounts Receivable $13, 750;. 1. 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. 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? 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? Q: Cantrell Company Is Required By Law To Collect And Remit Sales Taxes To The State. 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 . 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? ), 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 state. Preparation of the journal entry to record the cash sales for Cantrell Company. This item requires special handling and may have a longer than usual turnaround. Ms Amps estimate that the fixed costs are $96, 2003-2022 Chegg Inc. All rights reserved. Debit Sales taxes Payable $640; debit Cash $7, 360; credit Sales . Current liabilities. September 2022 The Cantrell Report : August 2022 The Cantrell Report : July 2022 The Cantrell Report : . Debit Cash $11,000; credit Sales $10,230; credit Sales Taxes The nationwide bank has fewer branches. If Cant . 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Cantrell Company Is Required By Law To Collect And Remit Sales Taxes To The State. 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. Cantrell Company is required by law to collect and remit sales taxes to the state. 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. Experts are tested by Chegg as specialists in their subject area. (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 salestaxes to the state. Debit Accounts Receivable $13, 750; Credit Sales $12, 500; Credit Sales Taxes Payable $1, 250. Our Mission is to provide investors of apartment . What is the major difference between a nationwide bank and a community bank? This E-mail is already registered with us. The asset is being depreciated $300 per month using the straight-line method. Payable $770. ScholarOn, 10685-B Hazelhurst Dr. # 25977, Houston, TX 77043,USA. (Use 360 days a year. cash sales? If Cantrell has $10,000 of cash sales that aresubject to an 10% sales tax, what is the journal entry to recordthe cash sales? 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? 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? Debit to Employee Retirement Program Payable $6,400. 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