Enter the following transactions in a general journal. Use a 5% sales tax rate. Sept. 1 Sold

Question:

Enter the following transactions in a general journal. Use a 5% sales tax rate.

Sept. 1 Sold merchandise on account to K. Smith, $1,800 plus sales tax. Sale No. 228.

3 Sold merchandise on account to J. Arnes, $3,100 plus sales tax. Sale No. 229.

5 Sold merchandise on account to M. Denison, $2,800 plus sales tax. Sale No. 230.

7 Sold merchandise on account to B. Marshall, $1,900 plus sales tax. Sale No. 231.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

See More Books

Question Posted: Dec 20, 2011 09:32 AM

See More Questions

Enter the following transactions in a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning...
Journalizing Cash Receipts Enter the following transactions in a cash receipts journal: Nov. 1 Jean Haghighat made payment on account, $780. 12 Marc Antonoff made payment on account, $480. 15 Made...
Enter the following transactions in a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning...
All organizations incur non value added costs. Eliminating or reducing non value added costs is the responsibility of managers. Using the Activity Based Management approach and focusing on the...
Consider the purchase of a supplier by Canadian Tire. 1. Suppose the fair value of the net assets at the date of purchase (February 1, 2017) had been $180.3 million. What would the goodwill cost have...
Where in the Flinn diagram would the different states of strain shown in Figure 2.12 plot? Uniaxial contraction (compaction) Uniform extension (constriction) X=Y=1>Z Plane strain X>>>Y=Z Uniaxial...
What have been some of the major efforts to specify human needs and values? You do not have to describe them or remember them in detail, but what are some of the most interesting and important points...
Explain why such forecasting devices as moving averages, weighted moving averages, and exponential smoothing are not well suited for data series that have trends.
a.) On October 1, 2020, how much should TRUE recognize as gain or loss on extinguishment? b.) How much should TRUE recognize as interest expense for the year ended, December 31, 2021? Due to the...
Bronkowski is a retailer for high-tech recording disks. The projected operating profit for the current year is $200,000 based on a sales volume of 200,000 units. The company has been selling the...
Prepare journal entries for the following transactions. Oct. 5 Sold merchandise on account to B. Farnsby for $280 plus sales tax of 4%. 8 Sold merchandise on account to F. Preetee for $240 plus sales...
Enter the following transactions in a general journal: Nov. 1 Jean Haghighat made payment on account, $750. 12 Marc Antonoff made payment on account, $464. 15 Cash sales were $3,763. 18 Will Mossein...
Hayton uses an age profile of debtors to calculate his provision for doubtful debts. He provides the following information for the year ended 31 October 20*8, on which to base the calculation....
Answer the following problems with solution: Use the following information for the next two questions: The statement of financial position of the partnership of A and B as of December 31, 20x1 is...
Complete the following budgets 1 Production Budget Planned Sales Desired Ending Inventory of Finished Goods (roundup to the next unit) Total Needed Less: Beginning Inventory Total Production {7.01}
Solution needs urgently. Question 1 (5 points) In times of prosperity (with high incomes and employment), governments at all levels have resources for high cost infrastructure such as roads,...
Write a program (called assignment-1.cxx)-- (40 points) Write down the C++ program based on the following tasks. Creates an Array (1D array) and randomly assign values. Show the array with assigned...
on 17:03 Sat 11 May < 00 194843... 19871 II B itsSUNPI is live! + Hi mates im Alive chating and all the fun stuf that we do O COME & GET ME! -- Sunpi FE now Untitled... HYPE RESULTS T Potential...
List four ways in which hospitality companies can improve their online presence through social media. LO.1
The 2017 financial statements of the U.S. government are available at: https://www.fiscal.treasury.gov/fsreports/rpt/finrep/fr/fr_index.htm Use these to answer the following questions: a. Statement...
a. What are the main assumptions of mean reversion? b. When would you model asset prices using mean-reverting walks instead of arithmetic or geometric random walks?
Journalize the following transactions: 201X Jan. 4 Sold merchandise for $300 cash. The cost of merchandise was $250. 9 Purchased merchandise from Red Co., $3,500, free on board shipping (buyer pays...
Journalize the following transactions: 201X Apr. 5 Sold merchandise for $1,050 cash. The cost of the merchandise was $600. 16 Made refunds to cash customers for defective merchandise, $90. The cost...
Journalize the following transactions: 201X Jul. 8 Sold merchandise on account, $580, Ring; terms 4/10, n/30. Cost of merchandise was $310. 12 Purchased office equipment on account from NHB Co.,...
Fig 1. Rolling a 4 on a D4 A four sided die (D4), shaped like a pyramid (or tetrahedron), has 4 flat surfaces opposite four corner points. A number (1, 2, 3, or 4) appears close to the edge of each...
I just need help with question #4 please! Thank you! Windsor Manufacturing uses MRP to schedule its production. Below is the Bill of Material (BOM) for Product A. The quantity needed of the part...
(25) Suppose that we have an economy consisting of two farmers, Cornelius and Wheaton, who unsurprisingly farm corn c and wheat w, respectively. Assume that both farmers produce their crop of choice...

Enter the following transactions in a general journal. Use a 5% sales tax rate. Sept. 1 Sold

Question:

Step by Step Answer:

DATE 20 Sept GENERAL JOURNAL DESCRIPTION Accounts ReceivableK Smith Sales Sales Ta...View the full answer

College Accounting

Students also viewed these Accounting questions