Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information The following information applies to the questions displayed below.] 1. On July 15, Piper Company sold $26,000 of merchandise (costing $13,000 ) for

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information The following information applies to the questions displayed below.] 1. On July 15, Piper Company sold $26,000 of merchandise (costing $13,000 ) for cash. The sales tax rate is 4%. On August 1, Piper sent the sales tax collected from the sale to the government. 2. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $780 cash. On November 20 the Bucks played the first game of the six-game pack (this represented one-5ixth of the advance ticket sales). 1. Record entries for the July 15 and August 1 transactions 2. Record the entries for the November 3 and November 20 transactions Journal entry worksheet 45 Record the entry for cash sales and its sales taxes. Noter Enter debits befare credits. Required information [The following information applies to the questions displayed below] 1. On July 15, Piper Company sold $26,000 of merchandise (costing $13,000 ) for cash. The sales tax rate is 4%, On August 1, Piper sent the sales tax collected from the sale to the government. 2. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $780 cash On November 20 . the Bucks played the first game of the six-game pack (this represented one-sibth of the advance ticket sales) 1. Record entries for the July 15 and August 1 transactions. 2. Record the entries for the November 3 and November 20 transactions. Journal entry worksheet 5 Record the cost of merchandise. Note: Enter debits before credits. Required information [The following information applies to the questions displayed below.] 1. On July 15. Piper Company sold $26,000 of merchandise (costing $13,000 ) for cash. The sales tax rate is 4%. On August 1. Piper sent the sales tax collected from the sale to the government. 2. On Novernber 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $780 cash. On November 20 , the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales) 1. Record entries for the July 15 and August 1 transactions. 2. Record the entries for the November 3 and November 20 transactions. Journal entry worksheet Record the sending of sales taxes to the government. Note: Enter debits before credits. Required information [The following information applies to the questions displayed below.] 1. On July 15, Piper Company sold $26,000 of merchandise (costing $13,000 ) for cash. The sales tax rate is 4%. 0 August 1, Piper sent the sales tax collected from the sale to the government: 2. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $780 cash. On November the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales). 1. Record entries for the July 15 and August 1 transactions. 2. Record the entries for the November 3 and November 20 transactions. Journal entry worksheet 2 5 Notei Enter debits before credits. Required information [The following information applies to the questions displayed below.] 1. On July 15. Piper Company sold $26.000 of merchandise (costing $13,000 ) for cash. The sales tax rate is 4% On August 1, Piper sent the sales tax collected from the sale to the government. 2 On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $780 cash. On November 20 . the Bucks played the first game of the six-game pack (this represented one-sixth of the advance ticket sales) 1. Record entries for the July 15 and August 1 transactions. 2. Record the entries for the November 3 and November 20 transactions. Journal entry worksheet (1) 234 Record the revenue earned from sale of tickets. Note: Enter debits before credits

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

Auditing And EDP Objective Questions And Explanations

Authors: Irvin N Gleim, William A. Hillison

4th Edition

0917537432, 978-0917537431

More Books

Students also viewed these Accounting questions