FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

33 Christmas gift certificates for sports equipment were sold for 7,000 the first time for the Christmas of 2016. The certificates can be redeemed at

image text in transcribed
image text in transcribed
33 Christmas gift certificates for sports equipment were sold for 7,000 the first time for the Christmas of 2016. The certificates can be redeemed at any time. There is no sales tax on certificates. Instead, the tax is added to the bill when the certificate is redeemed. All certificates were sold for cash. You may need to create an appropriate account for this new transaction

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What the Numbers Mean

Accounting What the Numbers Mean

Authors: David Marshall, Wayne McManus, Daniel Viele

12th edition

007802529X, 1259969525, 978-1260565492

More Books

Students also viewed these Accounting questions

Question

★★★★★
T. Corlett Company has the following merchandise account balances: Sales Revenue $180,000, Sales Discounts $2,000, Purchases $120,000, and Purchases Returns and Allowances $30,000. In addition, it...

Answered: 1 week ago

Question

★★★★★
How large must the coefficient of static friction be between the tires and the road if a car is to round a level curve of radius 125 m at a speed of 95 km / h?

Answered: 1 week ago

Question

★★★★★
Vocabulary People who read extensively and have large vocabularies are usually highly successful in their careers. What do you think explains this? Are you interested in building your v ocabulary? E...

Answered: 1 week ago

Question

★★★★★
Pronto Plumbing Company is a newly formed company specializing in plumbing services for home and business. The owner, Paul Pronto, had divided the company into two segments: Home Plumbing Services...

Answered: 1 week ago

Question

★★★★★
TechPro offers instructional courses in e-commerce website design. The company holds classes in a building that it owns. Identify each of TechPros costs below as (a) variable or fixed and (b) direct...

Answered: 1 week ago

Question

★★★★★
What does capital markets-based research tell us about the way in which share prices incorporate accounting information? 20marks

Answered: 1 week ago

Question

★★★★★
Blossom Inc. manufactures a single product in a continuous processing environment. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the...

Answered: 1 week ago

Question

★★★★★
The Windber Company is in its planning stage for next year. Windber expects sales to dip in Quarter 2 and is creating a production budget to determine if it needs to lay off employees. Windber knows...

Answered: 1 week ago

Question

★★★★★
I need help with a managerial accounting question. All parts pertain to the same question. Andretti Company has a single product called a Dak. The company normally produces and sells 87,000 Daks each...

Answered: 1 week ago

Question

★★★★★
Emilie Peters, the manager of the Laptop Division at Multitech Corporation, has enjoyed success. Her division's return on investment (ROI) has consistently been 18 percent on a total investment in...

Answered: 1 week ago

Question

★★★★★
Mack's Juices produces and bottles a line of fruit juices. The manufacturing process entails mixing and adding juices and other ingredients at the bottling plant, which is a part of Blending...

Answered: 1 week ago

Question

★★★★★
before a client visit, a manager holds a meeting with his subordinates...this is an example of a ( n ) _ _ _ _ decision method

Answered: 1 week ago

Question

★★★★★
10. Find a news article in a daily newspaper, and answer the following questions: (a) Does the information in the article support your views and attitudes or does it conflict with them? (b) Does the...

Answered: 1 week ago

Question

★★★★★
2. Give an example where information that is emotionally interesting, specific and close in time and space, can be used to capture someones interest.

Answered: 1 week ago

Question

★★★★★
7. How can an interpreter influence the utterer (sender)?

Answered: 1 week ago

Previous Question Next Question