Presented below is information for Cullumber Company for the month of January 2017. Cost of goods sold $205,200 Rent expense $33,000
Freight-out 8,200 Sales discounts 8,800
Insurance expense 13,600 Sales returns and allowances 18,600
Salaries and wages expense 60,200 Sales revenue 393,500
Income tax expense 5,300 Other comprehensive income (net of $400 tax) 2,000

Required:
Journalize the above entries.

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Explain the relationship between consumers and producers in economic growth and activity

On april 1, the cash account balance was $46,220. during april, cash receipts totaled $248,600 and the april 30 balance was $56,770. determine the cash payments made during april.