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Wafa Company did not segregate tax amount with sales. For the month of November It shows a total amount of the bill 59,000. Sales are
Wafa Company did not segregate tax amount with sales. For the month of November It shows a total amount of the bill 59,000. Sales are subject to 18% sales tax.
Instructions:
- Compute the amount of of sales tax ? (2 marks)
- Prepare the journal entry to record the sale in Wafa books for the month of November. (2 marks)
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
13th Edition
0273730045, 978-0273730040
