Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2022, the ledger of Romada Company contained these ability accounts Accounts Payable $42,500 Sales Taxes Payable 6.000 Unearned Service Ravenue 19.000 During

image text in transcribed
On January 1, 2022, the ledger of Romada Company contained these ability accounts Accounts Payable $42,500 Sales Taxes Payable 6.000 Unearned Service Ravenue 19.000 During fanuary, the following selected transactions occurred Dan i Howed $18.000 in cash from Apex Bank on a month, 5%, 518,000 note. 5 Sold merchandise for cash totaling 16.254, which includes osales taxes 12 Performed services for customers who had made avance payments of $10,000. (Credit Service Revenue) 14 Palt state treasurer's department for sales taxes collected in December 2021, 56,600, 20 S 500 units of a new product on credit at 54 per unit, sales tax During January, the company's employees and was 70,000 windings related to these we were 33,355 for Social Security (ICA), 35,000 for federal income tax and $1.500 for state income to the company wed money rated to the caring for for state mental. Assume that was amedding January will be pad during February. Netry had been recorded for wages of parrotx etary morate the way transaction order account thes are automatically indented whilosoot is entered the nat inden mamly. Mecenat normal entries to the under sted for the problem. Round answers to nearest whole dollar amount...) Account Titles and Explanation Detit Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

British And German Banking Strategies

Authors: S. Janssen

1st Edition

0230220487, 9780230220485

More Books

Students also viewed these Accounting questions

Question

Explain how the CPI is computed.

Answered: 1 week ago