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Do It! Review 10-1a You and sever al dassmates are studying for the next accounting examination....
Do It! Review 10-1 You and several classmates are studying for the next accounting examination. They...
Do It! Review 10-1
You and several classmates are studying for the next accounting
examination. They ask you to answer the following questions:
(Round answers to 0 decimal places, e.g.
125.)
1. If cash is borrowed on a $83,000, 9-month, 6%
note on August 1, how much interest expense would be incurred by
December 31?
Interest expense
$
2. The cash register total including sales taxes
is $37,450, and the sales tax rate is 7%. What is the sales taxes...
Styles ragraph DO IT! 10.1a (LO 1), AP You and several classmates are studying for the...
Styles ragraph DO IT! 10.1a (LO 1), AP You and several classmates are studying for the next accounting examination. They ask you to answer the following questions. 1.If cash is borrowed on a $60,000, 9-month, 10% note on August 1, how much interest expense would be incurred by December 31? 2.The cash register total including sales taxes is $42,000, and the sales tax rate is 5%. What is the sales taxes payable? 3.If $42,000 is collected in advance on November...
you and several classmates are studying for yhe next accounting exam. They ask you to answer...
you and several classmates are studying for yhe next accounting exam. They ask you to answer the following questions. 1. If cash is borrowed on a $166,120, a 9-month, 6% note on August 1, how much interest expense would be incurred by December 31. 2. The cash register total including sales tax is $52,000, and the sales tax is 5%, What is the sales tazes payable? 3. If $54,060 is collected in advance on November 1 for 6-month magazine subscriptions,...
Question 8 0.67/1 Your answer is partially correct. You and several classmates are studying for the...
Question 8 0.67/1 Your answer is partially correct. You and several classmates are studying for the next accounting examination. They ask you to answer the following questions If cash is borrowed on a $ 56,400, 9-month, 10% note on August 1, how much interest expense would be incurred by December 31? 2350 1. The cash register total including sales taxes is $ 44,625, and the sales tax rate is 5%. What is the sales taxes pavable 2. 3. If $44,625...
Problem 10-1A On January 1, 2019, the ledger of Skysong, Inc. contains the following liability accounts....
Problem 10-1A On January 1, 2019, the ledger of Skysong, Inc. contains the following liability accounts. Accounts Payable $56,400 Sales Taxes Payable 8,200 Unearned Service Revenue 16,000 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20.520, which includes 8% sales taxes. 12 Performed services for customers who had made advance payments of $11,000. (Credit Servies Revenue.) 14 Paid state revenue department for sales taxes collected in December 2018 (58.200). 20 Sold 940 units of...
Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Riverbed Ltd. contains the...
Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Riverbed Ltd. contains the following liability accounts. Accounts Payable £52,810 Sales Taxes Payable 7,080 Unearned Service Revenue 16,680 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling £14,980, which includes 7% sales taxes. 12 Performed services for customers who had made advance payments of £11,760. (Credit Service Revenue.) 14 Paid revenue department for sales taxes collected in December 2016 (E7,080). 20 Sold 600...
Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Riverbed Ltd. contains the...
Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Riverbed Ltd. contains the following liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue £52,810 7,080 16,680 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling 614.980, which includes 796 sales taxes. 12 Performed services for customers who had made advance payments of 611,760. (Credit Service Revenue.) 14 Paid revenue department for sales taxes collected in December 2016 (E7,080). 20 Sold 600...
Problem 10-1A On January 1, 2017, the ledger of Accardo Company contains the following liability accounts....
Problem 10-1A On January 1, 2017, the ledger of Accardo Company contains the following liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $56,800 8,000 16,200 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. 12 Performed services for customers who had made advance payments of $11,000. (Credit Service Revenue.) 14 Paid state revenue department for sales taxes collected in December 2016 ($8,000). 20 Sold 910 units of...
Problem 10-1A On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts. Accounts...
Problem 10-1A On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $42,900 6,800 19,400 During January, the following selected transactions occurred. Jan. 1 5 12 14 20 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Sold merchandise for cash totaling $7,420, which includes 6% sales taxes. Performed services for customers who had made advance payments of $10,200. (Credit Service Revenue.) Paid state treasurer's...
PRINTER VERSION BACK NEXT CALCULATOR Problem 10-01A On January 1, 2022, the ledger of Carla Vista...
PRINTER VERSION BACK NEXT CALCULATOR Problem 10-01A On January 1, 2022, the ledger of Carla Vista Co. contained these liability accounts Accounts Payable $43,400 Sales Taxes Payable Unearned Service Revenue 7.500 carosenice Revenue 19.900 During January, the following selected transactions occurred. Jan. 1 5 12 14 20 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note Sold merchandise for cash totaling $6,360, which includes 6% sales taxes Performed services for customers who had made advance payments...
Do It! Review 10-1
You and several classmates are studying for the next accounting
examination. They ask you to answer the following questions:
(Round answers to 0 decimal places, e.g.
125.)
1. If cash is borrowed on a $83,000, 9-month, 6%
note on August 1, how much interest expense would be incurred by
December 31?
Interest expense
$
2. The cash register total including sales taxes
is $37,450, and the sales tax rate is 7%. What is the sales taxes...
Styles ragraph DO IT! 10.1a (LO 1), AP You and several classmates are studying for the next accounting examination. They ask you to answer the following questions. 1.If cash is borrowed on a $60,000, 9-month, 10% note on August 1, how much interest expense would be incurred by December 31? 2.The cash register total including sales taxes is $42,000, and the sales tax rate is 5%. What is the sales taxes payable? 3.If $42,000 is collected in advance on November...
Question 8 0.67/1 Your answer is partially correct. You and several classmates are studying for the next accounting examination. They ask you to answer the following questions If cash is borrowed on a $ 56,400, 9-month, 10% note on August 1, how much interest expense would be incurred by December 31? 2350 1. The cash register total including sales taxes is $ 44,625, and the sales tax rate is 5%. What is the sales taxes pavable 2. 3. If $44,625...
Problem 10-1A On January 1, 2019, the ledger of Skysong, Inc. contains the following liability accounts. Accounts Payable $56,400 Sales Taxes Payable 8,200 Unearned Service Revenue 16,000 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20.520, which includes 8% sales taxes. 12 Performed services for customers who had made advance payments of $11,000. (Credit Servies Revenue.) 14 Paid state revenue department for sales taxes collected in December 2018 (58.200). 20 Sold 940 units of...
Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Riverbed Ltd. contains the following liability accounts. Accounts Payable £52,810 Sales Taxes Payable 7,080 Unearned Service Revenue 16,680 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling £14,980, which includes 7% sales taxes. 12 Performed services for customers who had made advance payments of £11,760. (Credit Service Revenue.) 14 Paid revenue department for sales taxes collected in December 2016 (E7,080). 20 Sold 600...
Problem 10-1A (Part Level Submission) On January 1, 2017, the ledger of Riverbed Ltd. contains the following liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue £52,810 7,080 16,680 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling 614.980, which includes 796 sales taxes. 12 Performed services for customers who had made advance payments of 611,760. (Credit Service Revenue.) 14 Paid revenue department for sales taxes collected in December 2016 (E7,080). 20 Sold 600...
Problem 10-1A On January 1, 2017, the ledger of Accardo Company contains the following liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $56,800 8,000 16,200 During January, the following selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes. 12 Performed services for customers who had made advance payments of $11,000. (Credit Service Revenue.) 14 Paid state revenue department for sales taxes collected in December 2016 ($8,000). 20 Sold 910 units of...
Problem 10-1A On January 1, 2017, the ledger of Ivanhoe Company contained these liability accounts. Accounts Payable Sales Taxes Payable Unearned Service Revenue $42,900 6,800 19,400 During January, the following selected transactions occurred. Jan. 1 5 12 14 20 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note. Sold merchandise for cash totaling $7,420, which includes 6% sales taxes. Performed services for customers who had made advance payments of $10,200. (Credit Service Revenue.) Paid state treasurer's...
PRINTER VERSION BACK NEXT CALCULATOR Problem 10-01A On January 1, 2022, the ledger of Carla Vista Co. contained these liability accounts Accounts Payable $43,400 Sales Taxes Payable Unearned Service Revenue 7.500 carosenice Revenue 19.900 During January, the following selected transactions occurred. Jan. 1 5 12 14 20 Borrowed $18,000 in cash from Apex Bank on a 4-month, 5%, $18,000 note Sold merchandise for cash totaling $6,360, which includes 6% sales taxes Performed services for customers who had made advance payments...
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