Homework Answers
1) Journal entry
| Date | account and explanation | Debit | Credit |
| Mar 31 | Account receivable (210000*1.04) | 218400 | |
| Sales revenue | 210000 | ||
| Sales tax payable | 8400 | ||
| Apr 6 | Sales tax payable | 8400 | |
| cash | 8400 | ||
2) Journal entry
| date | account and explanation | Debit | Credit |
| Aug 1 | Equipment | 22000 | |
| Notes payable | 22000 | ||
3) Journal entry
| Date | account and explanation | Debit | Credit |
| Oct 1 | Cash | 405.60 | |
| Subscription revenue | 390 | ||
| Sales tax payable (390*4%) | 15.60 |
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United Publishing completed the following transactions during 2018: O (Click the icon to view the transactions.)...
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Consider the following transactions of Gem Software: Mar. 31 Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey Apr. 6 Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 31: Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of...
Mar Apr. 31 Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey. 6 Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar, 31: Recorded cash sales of $160,000, plus sales tax of 8% collected for the state of New Jersey. (Prepare a single compound entry...
Universal Publishing completed the following transactions during 2018: (Click the icon to view the transactions.) Journalize the transactions (explanations are not required). Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Oct. 1: Sold a six-month subscription (starting on November 1), collecting cash of $480, plus sales tax of 5%. (Prepare a single compound entry for this transaction.) Date Accounts and Explanation Debit Credit Oct. 1 0 More Info Oct. 1 Sold a six-month...
United Publishing completed the following transactions during 2018 (Click the icon to view the transactions) Joumalize the transactions (explanations are not required) Round to the nearest dolar. (Record debits first, then credits Exclude explanations from journal entries) Oct. 1: Sold a six-month subscription (starting on November 1).collecting cash of $390, plus sales tax of 7%. Prepare a single compound only for this transaction) Date Accounts and Explanation Debit Credit Oct 1 Cash Subsorption Revenue 417 Ilar. (Record debits first, then...
E11-16 (similar to) E Quest TransWorld Publishing completed the following transactions during 2018: (Click the loon to view the transactions.) Journalize the transactions (explanations are not required). Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Oct 1: Sold a six-month subsor More Info X compound entry for this transaction.) Date Oct. 1 Oct 1 Sold a six-month subscription (starting on November 1), collecting cash of $600, plus sales tax of 5% Nov 15...
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Consider the following note payable transactions of Crandell Video Productions. (Click the icon to view the transactions.) Journalize the transactions for the company. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Credit Sep 1, 2017: Purchased equipment costing $20,000 by issuing a one-year, 9% note payable. Date Accounts and Explanation Debit 2017 Sep. 1 Equipment Nates Payable 20,000 Notes Payable 20,000 Purchased equipment in exchange for one year, 9% note Dec...
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