"Spirit Flight" is a limited edition mixed media lucite sculpture by Kitty Cantrell. $11,000. 11 points Cantrell Company is required by law to collect and send sales taxes to the state. Under the consent decree, Cantrell cannot resume operations until it receives authorization from the FDA. Q: Cantrell Company Is Required By Law To Collect And Remit Sales Taxes To The State. Under section 503B, a compounder can elect to register as an outsourcing facility. The complaint was filed by the U.S. Department of Justice on behalf of the FDA. Which one of the Big 5 personality traits falls into Extraversion- Introversion Myers-Briggs Type? 1. 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? Credit to Employee Benefits Expense $16,000. 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 . 6. comply with legal obligations to which we are subject and cooperate with regulators and law enforcement bodies and for . The asset is being depreciated $300 per month using the straight-line method. Wells Technical Institute (WTI)provides training to individuals who pay tuition, An asset's book value is $21,600 on January 1, Year 6. 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. . Obligations not expected to be paid within the longer of one year or the company's operating cycle are reported as: Current liabilities. If Cant . 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. 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. 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? Citation and references are required. Course Hero is not sponsored or endorsed by any college or university. If Cantrell has $10,000 of cash sales that aresubject to an 10% sales tax, what is the journal entry to recordthe cash sales? Debit Cash $11,000; credit Sales $11,000; and record the taxes The evolution of the media landscape over the past two decades has altered the delivery of many public education campaigns. (Agree or Disagree to the writer?) 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. Accounts payable are: Debit Notes, Required information Skip to question [The following information applies to the questions displayed below.] cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales? Debit Sales Taxes Payable $770; debit Cash $10,230. 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? Debit Sales Taxes Payable $770; debit Cash $10,230; credit Sales Cantrell Company is required by law to collect and remit sales taxes to the state. 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. 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. C) Debit Cash $9,095 credit Sales $8,500; credit Sales Taxes Payable $595 . Kindly login to access the content at no cost. 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? 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. (600 characters/words) REFORM AND REVOLUTION by Ambeth. If the note is dishonored, what entry should Uniform Supply make on January 15 of the next year? subject to an 7% sales tax, what is the journal entry to record the If Cantrell has $11,000 of cash sales that are 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.=. Debit Cash $8,640 Credit Sales $8,000 Credit Sales Taxes Payable $640 The Cantrell Company : April 2007. 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? Debit Accounts Receivable $13, 750;. We review their content and use your feedback to keep the quality high. cash sales? 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? The nationwide bank has fewer branches. The nation Payable $770. cash sales? 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 1. Payable $770. 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. when paid. The Cantrell Company specializes in the listing and sale of multifamily properties in the Texas and Oklahoma markets. Cantrell Company Is Required By Law To Collect And Remit Sales Taxes To The State. 2-4 Use of social media is increasing among all age groups but is still . 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? 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. Equal and Uniform vs. "Sales Chasing" By: Robert McCulloch, Cantrell McCulloch, Inc. . 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. 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 $9,500 of cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales? The site is secure. Test Yourself 32 Cantrell Company is required by law to collect and remit sales. The Sales Taxes Payable will be : Sales Sales Tax Rate Cantrell Company is required by law to collect and remit sales taxes to the state. 5.6- An asset's book value is $72,000 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? 4. process your bookings and refunds. The community bank services only local customers. 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. School Boston University; Course Title AD 632; Uploaded By jdamato05. Generally Accepted Accounting Principles. Preparation of the journal entry to record the cash sales for Cantrell Company. 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. 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? 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 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? 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. Cantrell Company is required by law to collect and remit sales taxes to the state. 2.074 2.819 2.831 2.08. 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. The community bank offers more services. Cantrell is registered as an outsourcing facility under section 503B of the FD&C Act. In addition, the, company contributes an amount equal to 4% of the employees' $160,000 gross salary to a retirement. (Use 360 days a year. Sales Taxes Payable $770. ( Required fields are red) Salutation: First Name: Last Name: Company Name: Your Role: Email Address . On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $9,900. Debit Accounts Receivable $13, 750; Credit Sales $12, 500; Credit Sales Taxes Payable $1, 250. . Obligations to be paid within one year or the company's operating cycle, whichever is longer, are: Multiple Choice Current assets. taxes to the state. If Cantrell has $11,000 of cash sales that are 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. 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? 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. This item requires special handling and may have a longer than usual turnaround. For Debit Cash $11,000; credit Sales $11,000; and record the taxes Debit cash $8, 640; credit Sales $8,000; credit taxes Payable $640. If Cantrell has $10,000 of cash sales that aresubject to an 10% sales tax, what is the journal entry to recordthe cash sales? Debit Cash $11,770; credit Sales $11,000; credit Sales Taxes program. 483 Issued 06/29/2017, Warning letter: Cantrell Drug Company 1/21/15. Debit Cash $7,000; credit Sales $7,000; and record the taxes when paid. 2003-2022 Chegg Inc. All rights reserved. NEED HELP ASAP!!!!!!! Multiple Choice Debit Cash $11,000; credit Sales $11,000; and record the taxes when paid. The .gov means its official.Federal government websites often end in .gov or .mil. 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? Earned revenues. 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. Workplace Enterprise Fintech China Policy Newsletters Braintrust mint mobile vs cricket Events Careers boarding diary chapter 14 english 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. September 2022 The Cantrell Report : August 2022 The Cantrell Report : July 2022 The Cantrell Report : . Debit to Employee Retirement Program Payable $6,400. ), This textbook can be purchased at www.amazon.com, Athena Company provides employee health insurance that costs $16,000 per month. The asset is being depreciated $1,000 per month using the straight-line method. Experts are tested by Chegg as specialists in their subject area. This preview shows page 21 - 22 out of 22 pages. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Ms Amps estimate that the fixed costs are $96, 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. 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? Bills. Debit Cash $11,000; credit Sales $10,230; credit Sales Taxes Debit Sales Taxes Payable $420; debit Cash $6,580; credit Sales . Outsourcing facilities must comply with CGMP requirements, are inspected by the FDA according to a risk-based schedule and Test yourself 32 cantrell company is required by law. 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? Before sharing sensitive information, make sure you're on a federal government site. a Debit Accounts Receivable $11,340; credit Sales $10,500; credit Sales Taxes Payable $840. Cantrell Company is required by law to collect and remit salestaxes 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. Cantrell Company is required by law to collect and remit sales taxes to the, 9 out of 10 people found this document helpful. 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. wide bank services only local customers. 50-state summary. Cantrell Company is required by law to collect and send sales This E-mail is already registered with us. 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. taxes to the state. Well continue to take action against compounders who produce drugs under substandard conditions and put the health of patients at risk.. when paid. If Cantrell has $9,500 of. What are the most common marketing channels for consumer products? What is, the maturity value of the note on March 1? Cantrell Company is required by law to collect and remit salestaxes to the state. ESTIMATE: $1,600.00-$1,900.00. Debit Sales taxes Payable $640; debit Cash $7, 360; credit Sales . Cantrell Company is required by law to collect and send sales 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. 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? 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? Operating cycle liabilities. Kindly login to access the content at no cost. Question: Cantrell Company is required by law to collect and send sales taxes to the state. Debit Cash $8,640; credit Sales $8,000; credit Sales Taxes Payable $640. 2. improve our services to provide you with better products. 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. (Solved): 11 points Cantrell Company is required by law to collect and send 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. Debit to Medical Insurance Payable $16,000. Engraved with the artists signature and number, this piece comes with a certificate of authenticity. Debit Accounts Receivable $13, 750; credit Sales $12, 500; credit Sales Taxes Payable $1, 250. Measures approximately 15" x 7" x 14". ScholarOn, 10685-B Hazelhurst Dr. # 25977, Houston, TX 77043,USA. Cantrell Company is required by law to collect and remit sales taxes to the state. What is the major difference between a nationwide bank and a community bank? Business Accounting Accounting questions and answers Cantrell Company is required by law to collect and remit sales taxes to the state. This E-mail is already registered as a Premium Member with us. Pages 62 Ratings 100% (2) 2 out of 2 people found this document helpful; Debit Accounts Receivable $11,770; credit Sales $11,000; credit Multiple Choice 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. Debit cash $8, 640; credit Sales $8,000; credit taxes Payable $640. What adjusting entry should the company make at the end of the current year to record its estimated, Indiana University, Purdue University, Indianapolis, Indiana University, Purdue University, Indianapolis ECON E270, Indiana University, Purdue University, Indianapolis ANTH A103, Indiana University, Purdue University, Indianapolis BUS A 201, A nurse is reviewing statistics about maternal and child health Which rate would, 70769349-7D70-4B26-BCB0-C9CCCD55E74B.jpeg, In which one of the following cases the right of private defence to the extent, the US system In the SI System prefixes are used to avoid numbers that are too, Below are samples and rubric for grading the output Samples, thrombosis is thought to be caused by a lack of CD59 on platelet membranes, Learning Objective 802A List the divisions of the nervous system and describe, Borrowed materials ie songs stories poems pictures photos brand names trademarks, Contaminated water related to underwater diving water which contains any, Wh i ch of t h e fo ll o w in g charac te r isti c s of Har tfo rd s l on g te, pts Question 5 Identify which of the following is NOT a measurement of number of, 45 Treasury stock should be reported as an a current asset b investment c other, 2 Not all individuals who demonstrate the characteristics of schizoid, C 7 All lines of the court is measured how many centimetres a 3 b 5 c 8 d 10 D 8, Practical Two - JOINS cont - Answers.docx, capitalareacommunityactionagency.com-Crisis Application 2.pdf, Horngren's Financial & Managerial Accounting, Horngren's Financial & Managerial Accounting, The Financial Chapters, Horngren's Financial & Managerial Accounting, The Managerial Chapters, Horngren's Accounting: The Managerial Chapters, Horngren's Cost Accounting: A Managerial Emphasis, Horngren's Accounting, The Financial Chapters, Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. Current liabilities. Sales Taxes Payable = $4,500 0.06= $270, This site is using cookies under cookie policy . Spirit Flight by Cantrell, Kitty. Cantrell Company is required by law to collect and remit sales taxes 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. Cantrell Company is required by law to collect and remit sales taxes to the state. 3. deal with your enquiries and requests. 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. industrial products? 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