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Name Date: 1. A cash register tape shows cash sales of $1.500 and sales saver of 5120. The journal entry to recond this infirmation is
Name Date: 1. A cash register tape shows cash sales of $1.500 and sales saver of 5120. The journal entry to recond this infirmation is a Cash Sales b Cal Sales Toe Payable Sales e Carh A) a B) b C) c D) d Sales Tax Expen Sales Cash Sales Sales Taxes Revenue 1,620 1,620 1,620 120 1,500 1,500 120 1,6201 1,620 1,500 120 2. Jordon Company does not ring up sales taxes separately on the cash register. Total receipts for October amounted to $18,900. If the sales tax rate is 5%, what amount must be remitted to the state for October's sales taxes? A) $900 B) $945 C) $45 D) It cannot be determined. 3. A contingency that is remote. A) should be disclosed in the financial statements. B) must be accrued as a loss. C) does not need to be disclosed. D) is recorded as a contingent liability. 4. Which one of the following payroll taxes is not withheld from an employee's wages because it is not levied on the employee? A) Federal income tax B) Federal unemployment tax C) State income tax D) FICA tax Page 1
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