Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kingbirds AS made credit sales of 29,100 which are subject to 6% VAT. The company also made cash sales which totaled 19,716 including the

image text in transcribed

Kingbirds AS made credit sales of 29,100 which are subject to 6% VAT. The company also made cash sales which totaled 19,716 including the 6% VAT. Your answer is partially correct. Prepare the entry to record Kingbirds' credit sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Accounts Receivable Sales Taxes Payable Sales Revenue eTextbook and Media List of Accounts - Your answer is partially correct. Debit 30846 Credit 1746 29100 Prepare the entry to record Kingbirds' cash sales. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation Cash Sales Taxes Payable Sales Revenue Debit Credit 19716 1116 18600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Quantitative Analysis for Management

Authors: Barry render, Ralph m. stair, Michael e. Hanna

11th Edition

978-0132149112

Students also viewed these Accounting questions

Question

Perform the indicated operations. (3k + q)

Answered: 1 week ago

Question

=+35. Pizza sales and price, part 2. For the data in Exercise

Answered: 1 week ago

Question

Define Administration?

Answered: 1 week ago

Question

1. Explain what a project life cycle is.

Answered: 1 week ago

Question

10. What are the characteristics of a good project manager?

Answered: 1 week ago