Question:You run a client's balance sheet on cash basis, but the balance in the Sales Tax Payable account does not change. What can be the cause? 

A Sales tax preferences are set to accrual 

B Sales tax was paid using a regular check 

C Adjustments to Sales Tax Payable were entered as journal entries 

D Credit memos for taxable items were not properly applied 

+ Answer
+ Explanation
+ Report
Total Preview: 596

Copyright © 2024. Powered by Intellect Software Ltd