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October During the first quarter, the company registered sales. None of these transactions include the sales of 6%. $61,000 November $70,000 $84,000 December (4 points)
October During the first quarter, the company registered sales. None of these transactions include the sales of 6%. $61,000 November $70,000 $84,000 December (4 points) 12. on October the company registered sales and tax how this event will affect the accounting equation Financial Statements horizontal) a) Increase Cash by $64,650, increase Sales Tax Payable by $3,660, and increase Retained Earnings by $61,000. Increase Sales Revenue and increase Net Income by 561,000. The cash flow will be affected by $64,660 Inflow. b) Increase Cash by $61,336, increase Sales Tax Payable by $365, and increase Retained Earnings by $61,000. Increase Sales Revenue and increase Net Income by $61,000. The cash flow will be affected by $51,336 Inflow. c) Increase Cash and increase Retained Eamings by $61,000 Increase Sales Revenue and increase Net Income by $61,000. The cash flow will be affected by $61,000 inflow. You MUST show your calculations: (4 points) 13. On November the company registered sales and tax, how this event will affect the accounting equation (Financial Statements horizontal)? a) Increase Cash by $74,200, increase Sales Tax Payable by $4,200, and increase Retained Earnings by $70,000. Increase Sales Revenue and increase Net Income by $70,000 The cash flow will be affected by $74,200 inflow. b) Increase Cash by $74,420, increase Sales Tax Payable by $420, and increase Retained Earnings by $70,000 Increase Sales Revenue and increase Net Income by $70,000 The cash flow will be affected by $74,420 inflow c) Increase Cash and increase Retained Earnings by $74,200. Increase Sales Revenue and increase Net Income by $74,200, The cash flow will be affected by $74,200 inflow. You MUST show your calculations: 14 points) 14. On December the company registered sales and tax, how this event will affect the accounting equation (Financial Statements-horizontal)? a) Increase Cash by 589,040, increase Sales Tax Payable by $5,040, and increase Retained Earnings by S84,000 Increase Sales Revenue and increase Net Income by $84,000. The cash flow will be affected by $89,040 inflow b) Increase Cash by $89,400, increase Sales Tax Payable by $5,400, and increase Retained Earnings by $84,000. Increase Sales Revenue and increase Net Income by $84,000. The cash flow will be affected by $89,400 inflow. c) Increase Cash and increase Retained Earnings by $89,400. Increase Sales Revenue and increase Net Income by $89,400. The cash flow will be affected by $89,400 inflow
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