Question
I need help on this homework assignment, I have what I think the answers are but I'm a little unsure! Which of the following statements
I need help on this homework assignment, I have what I think the answers are but I'm a little unsure!
|
Which of the following statements is true?
A.Payroll Tax Expense has a debit normal balance.
B.Payroll Tax Expense increases on the debit side of the account.
C. FICAminusOASDI Payable is a liability.
D.All of these answers are correct.
Secret Trails received payment in full within the credit period for horse boarding for $ 900 plus 77% sales tax. Terms of the sale were 33/10, n/30. Which entry is required to record this? (Round intermediary calculations to the nearest cent and final answers to the whole dollar.)
A. Debit Cash, $ 900;credit Sales, $900
B.Debit Cash,$ 963 ;credit Sales, $963
C. Debit Cash, $ 936 ;credit Sales,$936
D. Debit Cash,$936;debit Sales Discount$27;credit Accounts Receivable, $963
Bank statement ending cash balance | $2,530 | |
General ledger cash balance ending | 4,350 | |
Bank monthly service charge | 40 | |
Deposits in transit | 2,900 | |
Outstanding checks | 1,300 | |
NSF check returned with bank statement | 180 |
Calculate, from the following information accumulated by Bob Clark, the adjusted cash balance at the end of April. a. 4,310 b. 4130 C.4,350 D. 5,430
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