[Solved] In entering transactions concerned with s

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 08, 2024

In entering transactions concerned with sales of merchandise, which of the following accounts is NOT usually needed? Sales Sales Tax Payable Sales Returns and Allowances

In entering transactions concerned with sales of merchandise, which of the following accounts is NOT usually needed?

		Sales
		Sales Tax Payable
		Sales Returns and Allowances
		Sales Tax Receivable

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

The Audit Committee Handbook

Authors: Louis Braiotta Jr.

3rd Edition

ISBN: 0471345768, 978-0471345763

More Books

Students also viewed these Accounting questions

Question

★★★★★

Let i, j, and k be unit vectors along the positive x, y, and z axes of a rectangular coordinate system in 3-space. If v = (a, b, c) is a nonzero vector, then the angles Î±,...

Answered: 1 week ago

Question

★★★★★

13.7 Use the result in Problem 13.4 to verify that the ARE of the sign test relative to the Students t test for the logistic distribution is p2=12.

Answered: 1 week ago

Question

★★★★★

9. In a famous experiment carried out in 1882, Michelson and Newcomb obtained 66 observations on the time it took for light to travel between two locations in Washington, D.C. A few of the...

Answered: 1 week ago

Question

★★★★★

A company makes a range of products with total budgeted manufacturing overheads of 973 560 incurred in three production departments (A, B and C) and one service department. Department A has 10 direct...

Answered: 1 week ago

Question

★★★★★

Which of the following statements is FALSE? A . Even for a firm with positive earnings, growth will affect the optimal leverage ratio. B . From a tax perspective, the firm's optimal level of debt is...

Answered: 1 week ago

Question

★★★★★

Ron's Overhead Doors informa la siguiente informacin financiera: Activos $47,600 Pasivo 17,220 ron capital 25,500 Ron, Retiro 4500 Ingresos 9,560 Gastos ? Requisitos 1. Usa la ecuacin contable para...

Answered: 1 week ago

Question

★★★★★

CP8-10-submit in Canvas (round all answers to the nearest dollar) n PV$1 FV$1 PVA FVA 5 6% 0.747258 4.212364 1.338226 5.637093 60 0.50% 0.741372 1.348850 51.725561 69.770031 1. You want to buy a...

Answered: 1 week ago

Question

★★★★★

Assume a budget for City has been approved and the following information is available: . Estimated inflow from revenue $900,000. Estimated inflow from general long-term debt $100,000. Transfer from...

Answered: 1 week ago

Question

★★★★★

You notice several adult guests playing in the pool. Their play is getting slightly more aggressive and loud and several guests who were near them have moved away. How would you respond?

Answered: 1 week ago

Question

★★★★★

Kubin Companys relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,000 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $...

Answered: 1 week ago

Question

★★★★★

1. You are developing a multimedia product to be sold on CD-ROM. You wish to use the following media assets within this product. How would copyright and intellectual property laws affect your use of...

Answered: 1 week ago

Question

★★★★★

How can the use of social media such as Facebook and Twitter-like applications benefit the performance management process?

Answered: 1 week ago

Question

★★★★★

According to Hofstede (in Table 15.2), the United States is low on power distance, high on individuality, high on masculinity, low on uncertainty avoidance, and low on long-term orientation. Russia,...

Answered: 1 week ago

Question

★★★★★

What do you think is the most important step shown in the model of the effective performance management process? Justify your answer.

Answered: 1 week ago

Previous Question Next Question