How do companies like eBay, Amazon and Flipkart make a profit when they sell almost all their products at a discount?
If you look at a shop, you have a lot of miscellaneous expenses, which are not there for an online website. For example, rent, sellers, advertisements, electricity, intermediaries etc. For online selling, you can save a significant amount of money for the same. You receive the product directly from the warehouse, no expensive showrooms, air conditioners etc . Maintaining a website is much cheaper than those expenses. I do not have any reference to the actual amount, but I assume that it might be the reason why they can sell their items at a reduced cost. NOTE: There has been an issue in Kerala regarding tax paid by these websites. For the past few months there were no deliveries from most of the sellers from flipkart , amazon or snapdeal (literally, none). It is said that they are not paying a tax which is for state department . If that case is true, there is no wonder why they are charging less for the products.
Prepare the journal entry to record Royal Company's January 8 (employee) payroll expenses and liabilities?
Required: 1.1 Calculate FICA Social Security taxes payable and FICA Medicare taxes payable by the employees of Royal Company. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) FICA—Social sec. taxes payable $5,059.20* FICA—Medicare taxes payable $ 1,183.20** *[($60,840 + 20,760) x 6.20%] [($60,840 + 20,760) x 1.45%] 1.2 Prepare the journal entry to record Royal Company's January 8 (employee) payroll expenses and liabilities. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Date General Journal Debit Credit Jan. 8 Dr Office salaries expense 20,760 Dr Sales salaries expense 60,840 Cr FICA-Social sec. taxes payable 5,059.20 Cr FICA-Medicare taxes payable 1,183.20 Cr Employee fed. inc. taxes payable 13,660 Cr Employee medical insurance payable 1,380 Cr Employee union dues payable 880 Cr Salaries payable 59,437.60 2. Prepare the journal entry to record Royal's (employer) payroll taxes resulting from the January 8 payroll. Royal's merit rating reduces its state unemployment tax rate to 5% of the first $7,000 paid each employee. The federal unemployment tax rate is 0.8%. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Date General Journal Debit Credit Jan. 8 Dr Payroll taxes expense 10,975.20 Cr FICA-Social sec. taxes payable 5,059.20 Cr FICA-Medicare taxes payable 1,183.20 Cr State unemployment taxes payable 4,080 Cr Federal unemployment taxes payable 652.80 $[($60,840 + 20,760) × 0.05 = $4,080 [($60,840 + 20,760) × 0.008 = $652.80
From the information, determine the total amount of: (a) Manufacturing overhead. (b) Product costs. (c) Period?
Factory utilities $ 11,620 (a) Manufacturing overhead Direct labor $71,196 (b) Product costs Depreciation on factory equipment 13,746 (a) Manufacturing overhead Sales salaries 46,768 (c) Period costs Depreciation on delivery trucks 4,535 (c) Period costs Property taxes on factory building 3,004 (a) Manufacturing overhead Indirect factory labor 50,090 (a) Manufacturing overhead Repairs to office equipment 1,599 (c) Period costs Indirect materials 82,738 (a) Manufacturing overhead Factory repairs 2,835 (a) Manufacturing overhead Direct materials used 140,550 (b) Product costs Advertising 18,968 (c) Period costs Factory manager's salary 8,811 (a) Manufacturing overhead Office supplies used 3,314 (c) Period costs
Are their any online stores like amazon.com based in Spain?
is there a spanish amazon.com i know they have world ones..... this looks like a good site but i don't know about the shipping.. http://www.worldwidechocolate.com/ sorry i could'nt be more helpful good luck !
I am on social security, do I have to report the sale of my home ?
Your SSI is ordinary income that is taxed only if your AGI is above $25000 for single, and $32000 MFJ. But I don't think this is relevant because the sale of your house is not ordinary income, it is capital gain if your sales price is greater than your original purchase price, and you've had the house for longer than 1 year. If you lived in your home for more than 2 years, you may not have any taxes whatsoever because there is a $250,000 exclusion for single, and $500,000 exclusion for married filing joint. That means that if 5 years ago you bought a house for $300K and you sell for $500K today, you will have $200K capital gain, but pay no tax. I think you do have to report it though. What you report to social security as income is your Adjusted Gross Income (AGI), plus any tax exempt income, plus 50% of SSI. Gains from your house are not part of AGI because it is capital gain. I've given you some sites to help you.
Can Pawn Shops charge tax on resale jewelry. Tax has already been paid once when purchased new. ?
Hey there, Pawn shops don't charge tax on items to increase their profits.... they charge tax because it is the law. They have to. Pawn shops are a business and they, themselves have to pay tax.... so they are certainly going to charge it. Now, you may be confused as to some of the pawn shop practices. For instance....I may want to buy something and ask for the best or lowest accepted price. The sales person may say... ''you may have it for $100.00 out the door - no tax''. But that does not mean they do not charge the tax. They just subtract the tax amount from the asking price.... calculate that amount and then re-add the tax to the lowered amount which comes out to a percentage of what the sales tax would be. Here in Texas it would be about an 8.5% discount off the asking price. It does not matter if it is jewelry or electronics.... a pawn shop is going to charge sales tax on items they ''sell.'' Thanks for reading.