Leister Auto Supply does not segregate sales and sales taxes at the time of sale. The register
Question:
Leister Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $15,540. All sales are subject to a 5% sales tax. Compute sales taxes payable, and make the entry to record sales taxes payable and sales.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Sales tax payable 1 Sales 148...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Savango Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $15,540. All sales are subject to a 5% sales tax. Compute sales taxes payable, and...
-
Goodwin Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $13,440. All sales are subject to a 5% sales tax. Compute sales taxes payable, and...
-
Coghlan Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $16,380. All sales are subject to a 5% sales tax. Compute sales taxes payable, and...
-
discuss case study a bout remote analysis during covid 1 9 - 1 9 virus
-
In a designed experiment, there are two factors, say, Factor A and Factor B. Factor A has three levels, say, a1, a2, and a3; Factor B has four levels, say, b1, b2, b3, and b4. a. Construct a...
-
The J R Simplot Company is one of the worlds largest privately held agricultural companies, employing more than 10,000 people in the United States, Canada, China, Mexico, and Australia. More...
-
Justin Leonard has just arranged to purchase a \($400,000\) vacation home in the Bahamas with a 20% down payment. The mortgage has an 8% annual percentage rate (APR) and calls for equal monthly...
-
James A. and Ella R. Polk, ages 70 and 65, are retired physicians who live at 13319 Taylorcrest Street, Houston, Texas 77079. Their three adult children (Benjamin Polk, Michael Polk, and Olivia...
-
. Your portfolio consists of $100,000 invested in a stock which has a beta = 0.8, $150,000 invested in a stock which has a beta = 1.2, and $50,000 invested in a stock which has a beta = 1.8. The...
-
Bar BDE is attached to two links AB and CD. Knowing that at the instant shown link AB rotates with a constant angular velocity of 3 rad/s clockwise, determine the acceleration (a) Of point D, (b) Of...
-
Hanna Company borrows $80,000 on July 1 from the bank by signing a $80,000, 10%, one-year note payable. (a) Prepare the journal entry to record the proceeds of the note. (b) Prepare the journal entry...
-
Emporia State University sells 4,000 season basketball tickets at $180 each for its 12-game home schedule. Give the entry to record (a) The sale of the season tickets and (b) The revenue earned by...
-
Adam operates a pin factory. Suppose Adam faces the situation shown in the following table and the cost of renting a machine is $550 per week. a. Fill in the blank cells in the table and determine...
-
The following data pertain to Lawn Master Corporation's top-of-the-line lawn mower. Variable manufacturing cost Applied fixed manufacturing cost $279 59 Variable selling and administrative cost 62...
-
During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) Capital Asset L stock M stock N stock 0 stock Antiques Rental...
-
Go to SEC website of Amazon that has leases and review their (consolidated) financial statements.Here is one of the example link...
-
The Halloween Supply House produces masks for Halloween. The firm budgeted to produce 3 0 0 masks in 2 0 2 3 . They also budgeted for the following: Each Mask requires 3 oz of paint Paint costs $ 8 /...
-
1. Henry, very angry because his new car broke down, yells out "Anyone wanna buy a piece of junk for $100?* Ida overhears Henrys and says, "I do, here's $100." What result? A. Henry must sell his car...
-
Calculate the stresses in the bars loaded as shown in Fig.13.56. \(E=200 \mathrm{GPa}\) A 1 m B 2 A = 100 mm | 50 kN 1.5 m Fig. 13.56 A = 200 mm 1.5 mm
-
Solve for the equilibria of the following discrete-time dynamical systems Pr pt+1 = Pr+2.0(I-Pr)
-
Sketch the solid obtained by rotating the region underneath the graph of over the interval about the given axis, and calculate its volume using the Shell Method. (x) = x 3 , [0, 1], about x = 2
-
At December 31, accrued salaries payable totaled $3,500. On January 10, total salaries of $8,000 are paid. (a) Assume that reversing entries are made at January 1. Give the January 10 entry, and...
-
At December 31, accrued salaries payable totaled $3,500. On January 10, total salaries of $8,000 are paid. (a) Assume that reversing entries are made at January 1. Give the January 10 entry, and...
-
The steps in using a worksheet are presented in random order below. List the steps in the proper order by placing numbers 15 in the blank spaces. (a) _____ Prepare a trial balance on the worksheet....
-
On January 1, 2023, ChepeCo issues $600,000 of 11%, 15-year bonds at a price of 102. The straight-line method is used to amortize any bond premium or discount. What is the total interest expense...
-
Current Attempt in Progress Marigold Enterprises is aptly named because of its signature item-chewing gum! The owners started the business years ago when no existing gum had the right flavor and...
-
Required information Use the following Information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Manuel Company predicts it will operate at 80%...
Study smarter with the SolutionInn App