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

Question

1 Approved Answer

A cash register tape shows cash sales of $3600 and sales taxes of $380. The journal entry to record this information is Cash 3600 Sales

image text in transcribed
image text in transcribed
A cash register tape shows cash sales of $3600 and sales taxes of $380. The journal entry to record this information is Cash 3600 Sales TaxExpense 380 Sales Revenue 3980 Cash 3980 Sales Tax 380 Revenue 3600 Sales Tax 380 Revenue Sales Revenue 3600 Cash 3980 Sales Revenue 3600 Sales Taxes 380 Payable Cash 3600 Sales Revenue 3600

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

Step: 3

blur-text-image

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 Concepts And Applications

Accounting Concepts And Applications

Authors: K. Fred Skousen, W. Steve Albrecht, James D. Stice, Earl K. Stice

7th Edition

0538876247, 978-0538876247

More Books

Students also viewed these Accounting questions

Question

★★★★★
A short cylinder, of radius a and length L, carries a "frozen-in" uniform polarization P, parallel to its axis. Find the bound charge, and sketch the electric field (i) for L >> a. (ii) for L Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
Who should perform employee check-in and check-out functions, and why?

Answered: 1 week ago

Question

★★★★★
Describe the primary differences in the measurement of risk between the utility function used in expected utility theory by traditional finance and the value function posited by prospect theory in...

Answered: 1 week ago

Question

★★★★★
On February 12, 5,000 shares of Mid-Ex Company are acquired at a price of $24 per share plus a $200 brokerage fee. On April 22, a $0.36-per-share dividend was received on the Mid-Ex Company stock. On...

Answered: 1 week ago

Question

★★★★★
A corn farmer expects to harvest $ 50,000 bushels of corn by mid-July 2010. A future contract on corn maturing on July 12, 2010 is available on May 3, 2010 with following specifications. Date Future...

Answered: 1 week ago

Question

★★★★★
Compute a depth-two decision tree for the training data in table 1 using the Gini function, C(a) = 2a(1 a) as described in class. What is the overall accuracy on the training data of the tree? XYZ...

Answered: 1 week ago

Question

★★★★★
On 1 July 2016, A Ltd acquired 60% of the issued shares of B Ltd for $190 000. At this date, the equity of B Ltd was: Share capital General reserve Retained earnings $100000 1000 60000 At acquisition...

Answered: 1 week ago

Question

★★★★★
ONLINE CLOTHING STORE Step 2: Recommend Offensive Dynamic Pricing Strategy Your Virtual Internship coordinator asked you to develop an offensive dynamic pricing strategy by identifying products to...

Answered: 1 week ago

Question

★★★★★
Describe ERP and how it can create efficiency within a business

Answered: 1 week ago

Question

★★★★★
6-box diagnostic model for gamestop and best buy identifies and measures the relevant aspects of the organization's performance. Apply the data obtained in your research through an analysis of the...

Answered: 1 week ago

Question

★★★★★
How does the role of business and management play out in your future career growth and professional potential? What specific aspects from this class (BPM, CRM, Process Mapping, People Change...

Answered: 1 week ago

Question

★★★★★
According to the VBA code ofConduct, it is stated that you must not act as an arbiter where there is disagreement between the owner and an adjoining owner about protection work. Explain in detail how...

Answered: 1 week ago

Question

★★★★★
Explain the key components of an assessment center (AC).

Answered: 1 week ago

Question

★★★★★
This means that almost half the employees are near or over the retirement age. How should On Cheong renew its workforce? Should it recruit and nurture a new cohort of younger employees? Should...

Answered: 1 week ago

Question

★★★★★
The tenure of employees also has implications for customer relations. Would it be more difficult for On Cheong to continue to foster long-term relationships with customers if its employees do not...

Answered: 1 week ago

Previous Question Next Question