Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 13, 2024

Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $9,500 of cash sales that are subject

Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $9,500 of cash sales that are subject to an 9% sales tax, what is the journal entry to record the cash sales?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

Securing An IT Organization Through Governance Risk Management And Audit Internal Audit And IT Audit

Authors: Ken E. Sigler, III Rainey

1st Edition

0367658658, 978-0367658656

More Books

Students also viewed these Accounting questions

Question

★★★★★

Rosas Pizza operates strictly on a carryout basis. Customers pick up their orders at a counter where a clerk exchanges the pizza for cash. While at the counter, the customer can see other employees...

Answered: 1 week ago

Question

★★★★★

An uncharged conducting sphere of radius a is coated with a thick insulating shell (dielectric constant r) out to radius b. This object is now placed in an otherwise uniform electric field E0. Find...

Answered: 1 week ago

Question

★★★★★

Deloitte & Touche, a public accounting firm, helps to underwrite the musical production Mama Mia currently playing at the Theater Center. Why would the accounting firm do this? What is Deloitte &...

Answered: 1 week ago

Question

★★★★★

The text states that NFPOs have the option of not recognizing donated works of art, historical artifacts, and similar items as assets and revenues, provided they are added to collections and the...

Answered: 1 week ago

Question

★★★★★

Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $9,500 of cash sales that are subject to an 9% sales tax, what is the journal entry to record the...

Answered: 1 week ago

Question

★★★★★

Inbu1030 El pais de china iCul es el enfoque de negocios (etnocntrico, policntrico o geocntrico) ms apropiado para que una empresa multinacional opere en el pais asignado? iPor qu? Conclusi6n 5 y...

Answered: 1 week ago

Question

★★★★★

Consider the system shown in Fig. 9.54 in which a harmonic force acts on the mass $m$. Derive the condition under which the steady-state displacement of mass $m$ will be zero. Disc, mass M 000 R...

Answered: 1 week ago

Question

★★★★★

Verify the color SU(3) representations for combinations of three or fewer quarks and antiquarks given in Eq. (19.28). Data from Eq. 19.28 qq=303=108 qq 3 3 603, 999 3 3 3 = 36315, qqq 3 3 3 1088 10,

Answered: 1 week ago

Question

★★★★★

In about the years 214-212 BC, the Greek philosopher and scientist Archimedes is said to have repelled a Roman attack with a "death-ray" converging mirror, using sunlight to set the approaching fleet...

Answered: 1 week ago

Question

★★★★★

a. Draw a triangle similar to the one drawn opposite. (i) Measure the length of side AB and let this be the base of the triangle. (ii) Draw on your diagram a line which represents the height of the...

Answered: 1 week ago

Question

★★★★★

The following data show the education and employment status of women aged 2029 (from the 1991 General Household Survey): (a) Draw a bar chart of the numbers in work in each education category. Can...

Answered: 1 week ago

Question

★★★★★

To whom might an entrepreneur present his or her business plan? Why? (Objective 4)

Answered: 1 week ago

Question

★★★★★

Assume you want to start a business in the community in which your school is located. What resources are available to youlocally or through the Internetas you approach the task of drafting a business...

Answered: 1 week ago

Question

★★★★★

A student organization to which you belong recently returned from its national conference. One of the highlights of the conference was announcement of Chapter of the Yearand your group won! Prepare...

Answered: 1 week ago

Previous Question Next Question