Question 3 Martinez Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is S1 2,600. All sales are subject to Compute sales taxes payable. sales taxes payabla 5% sales tax. g prepare a tabular summar to record sales taxes pa a Fquity iten that was reduced.) e and sa es 1f transact an causes a decrease i Assets, Liabilities or S stockhoiders' Equity, place a negative sign (or parentheses) in front of the amount entered or the particular Asset, Liability ar AssetsLiabilities Stockholders Equity Retained Earnings Expense Cash Sales Taxes Payable Common Stock Revenue Common st Dividend Mar. 16 Sales revenue Question 4 Martinez University sells 3,500 season basketball tickets at $60 each for its 20-game home sthedule. Prepare a ta ular summary to record a the sale c the season tickets and b) the revenue recognized after front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) ay ng the rst home game. (If transacto n causes d crease in Assets, Liabilities or s ockholders Equity, place , negative sign or arentheses Assets Liabilitie Stockholders Equity Cash U Unearned Ticket Revenue Common Stock Revenue Expense Dividend Ticket revenue Question 6 During its first year of operations, Cheyenne Corp. had these transactions pertaining to its cormmon stock Jan. 10 Issued 25,400 shares for cash at $4 per share. uly1 ssued 52,0D0 shares for cash at $7 per share are a tabular su mary to record the transactions, assuming that the common stock has a par value o S4 per share. If a tra50ct on causes a decrease in Assets, Liabilities or Stockholders' Equity, ! ce a negative s gn or parentheses in tro t o amount entered for the particular Asset, Liability or Equity iten that was reduced.) Assets Liabilities+ Stockholders Equity Paid-in-Capital Retained Earnings Expense Cash +Common Stock +PIC in Excess of Par Com.Revenue Dividend Jan, 10 July 1 Prepare a tabular summary to record the transactions, assuming tat the common stock has a par value o S2 per share. amount entered for the particular Asset, Liability or Equity item that was reduced.) If transact on causes a decrease n Assets, Liabl tles or Stockholders' Equity, place negative sign or parentheses n ront of the Assets Liabilities+ Stockholders' Equity Retained Earnings Cash +Common Stack +PIC in Excess of Par Com.Revenue Dividend an. 10 uly 1
