Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use your homework company. 1. Create a sales tax item -- CA Sales Tax, for 8.75%, paid to Board of Equalization. 2. Create Part Y,

Use your homework company. 1. Create a sales tax item -- CA Sales Tax, for 8.75%, paid to Board of Equalization. 2. Create Part Y, non-inventory item, Price = $10, Tax Code = non, Account Cost of Goods Sold. = 3. Create Part X. Account = Cost of Goods Sold. Price = $20. Make sure it is taxable. 4. Create (or modify) customer "My name - Customer". Change the customer to "taxable" and use the tax item you created above. 5. Create an estimate for your customer. 2 Part Xs, 5 Part Ys. What is the total estimate? 1. From your previously created estimate, create an invoice. 2. Change Part Y to "taxable". What is the total of the invoice now? 1. Go back to your previously created invoice. 2. Change the entire invoice to non-tax (i.e., customer's default) (do not change the lines, change the invoice to non-tax). What is the amount of the invoice now

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

Principles Of Financial And Managerial Accounting

Authors: James Don Edwards, Roger H. Hermanson

1st Edition

0256130000, 978-0256130003

More Books

Students also viewed these Accounting questions

Question

a. Describe the encounter. What made it intercultural?

Answered: 1 week ago