Enter the following transactions in a sales journal. Use a 6% sales tax rate. May 1 Sold
Question:
Enter the following transactions in a sales journal. Use a 6% sales tax rate.
May 1 Sold merchandise on account to J. Adams, $2,000, plus sales tax. Sale No 488.
4 Sold merchandise on account to B. Clark, $1,800, plus sales tax. Sale No. 489.
8 Sold merchandise on account to A. Duck, $1,500, plus sales tax. Sale No. 490.
11 Sold merchandise on account to E. Hill, $1,950, plus sales tax. Sale No. 491.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 56% (16 reviews)
DATE SALE NO 20 May 1 488 4 489 8 490 11 491 SALES ...View the full answer
Answered By
Muhammad Mahtab
everyone looks that their work be perfect. I have more than a five year experience as a lecture in reputable institution, national and international. I provide perfect solution in marketing, case study, finance problems, blog writing, article writing, business plans, strategic management, human resource, operation management, power point presentation and lot of clients need. Here is right mentor who help clients in their multi-disciplinary needs.
5.00+
3+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting 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...
-
On March 1, Lincoln sold merchandise on account to Amelia Company for $28,000, terms 1/10, net 45. On March 6, Amelia returns merchandise with a sales price of $1,000. On March 11, Lincoln receives...
-
On January 6, Compton Limited sold merchandise on account to Singh Inc. for $45,200, terms 2/10, n/30. The merchandise originally cost Compton $26,500. On January 15, Singh paid the amount due. Both...
-
How to respond to this response The effective utilization of data is integral to enhancing efficiency and making informed decisions?
-
Paris Enterprises, which began operations in 2017, invests in long-term available-for-sale securities. Following is a series of transactions and events involving its long-term investment activity....
-
Two graduate students are engaged to one another, and both are working on their master's theses-Michael in music education and Kristen in political science. Because both have incomes that are tied to...
-
Michael Daigle, Attorney, P.C., began the year with total assets of \($122,000\), liabilities of \($71,000\), and stockholders equity of \($51,000\). During the year the business earned rev enue of...
-
Selected accounts from Keystone Furnitures adjusted trial balance as of August 31, 2014, the end of the fiscal year, follow. Required 1. Prepare a multistep income statement for Keystone. Store...
-
Why did the Commission believe there was need to increase staff levels for the Forest Grove Parks Division and at the Aquatics Center? What strategies or additional analytical information in the...
-
A partially completed worksheet for At Home Pet Grooming Service, a firm that grooms pets at the owner's home, follows. INSTRUCTIONS 1. Record balances as of December 31 in the ledger accounts. 2....
-
Identify the journal (sales, cash receipts, purchases, cash payments, or general) in which each of the following transactions should be recorded: (a) Sold merchandise on account. (b) Purchased...
-
Enter the following transactions in a cash receipts journal: July 6 James Adler made payment on account, $643. 10 Made cash sales for the week, $2,320. 14 Betty Havel made payment on account, $430....
-
Think of a situation when you experienced a dramatic change in your life. Using Figure 21.3 for guidance, recall your feelings over time. How closely did your experiences match the stages in the...
-
Canawacta Tioga is the CFO for Wyalusing Corporation, a multinational manufacturing company based in Canada. One year ago, Wyalusing issued fixed-rate coupon bonds in Canada. Tioga now expects...
-
How do medical billing and coding regulations affect reimbursement in a healthcare organization? After reviewing the steps in the revenue cycle, what are the various tasks that the different...
-
Q2) Given the current prices of European call options with different strike prices below. 80 100 110 13 ? 4 c(K) Find an upper bound of the price of the call option with strike 100, c(100), by using...
-
Xavier has taxable income of $87583 annually. If the federal tax rates are as follows what is his average federal tax rate? Taxable Income Tax Rate Up to $50,197 15% On the next $50,195 20.5% On the...
-
Bank A charges a 7.75 percent annual percentage rate and interest is due at the end of the year. Bank B charges a 7 percent annual percentage rate and interest must be paid monthly. What is the...
-
Use the six approaches from Example 2.10 to determine to the nearest year how long it takes for an investment to double if the interest is compounded annually at the following rates: a. 5 percent b....
-
Before the latest financial crisis and recession, when was the largest recession of the past 50 years, and what was the cumulative loss in output over the course of the slowdown?
-
Use substitution to find the first three terms of the Maclaurin series for (x) = e x20 . How does the result show that (k) (0) = 0 for 1 k 19?
-
From the following T accounts of Barry are Cleaning Service of Yarmouth. a. Record and foot the balances on the appropriate pages in the Study Guide with Working Papers. b. Prepare a trial balance...
-
From the trial balance of Grace Lantz, Barrister and Solicitor of Winnipeg, prepare a. An income statement for the month of May. b. A statement of owners equity for the month ended May 31. c. A...
-
The chart of accounts of Angels Delivery Service of Flin Flon includes the following: Cash, 111; Accounts Receivable, 112; Office Equipment, 121; Delivery Trucks, 122; Accounts Payable, 211; Alice...
-
Bank reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1. Cash balance according to the company's records at August...
-
- Suppose that f(x, y) = 3x + 3y = xy Then the minimum is
-
Direct labor variances Ada Clothes Company produced 14,000 units during April. The Cutting Department used 2,700 direct labor hours at an actual rate of $13.60 per hour. The Sewing Department used...
Study smarter with the SolutionInn App