Homework Answers
Ans:
|
Date |
Account Title |
Debit |
Credit |
|||
|
Mar-31 |
Cash |
172800 |
||||
|
Sales |
160000 |
|||||
|
Sales Tax |
12800 |
|||||
|
(recorded cash sales plus 8% sales tax collected for state of New Jersey) |
||||||
|
(sales tax =$160000*8% =$172800) |
||||||
|
Apr-06 |
Sales Tax |
12800 |
||||
|
Cash |
12800 |
|||||
|
( sales tax sent to state) |
||||||
Add Answer to:
Mar Apr. 31 Recorded cash sales of $160,000, plus sales tax of 8% collected for the...
Consider the following transactions of Gem Software: Mar. 31 Recorded cash sales of $160,000, plus sales...
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...
Consider the following transactions of Oyster Software: Mar. 31 Recorded cash sales of $210,000, plus sales...
Consider the following transactions of Oyster Software: Mar. 31 Recorded cash sales of $210,000, plus sales tax of 4% 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 $210,000, plus sales tax of 4% collected for the state of...
Journalize all entries required for SpeedySpeedy Running Shoes. (Record debits first, then credits. Select the explanation...
Journalize all entries required for SpeedySpeedy Running Shoes.
(Record debits first, then credits. Select the explanation on the
last line of the journal entry table.)
Speedy Running Shoes reports the following: (Click the icon to view the transaction information.) Journalize all entries required for Speedy Running Shoes (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 4, 2018: Recorded credit card sales of $145,000, net of processor fee of 1%. Ignore...
On July 5, Brenner Company recorded sales of merchandise inventory on account, $65,000. The sales were...
On July 5, Brenner Company recorded sales of merchandise inventory on account, $65,000. The sales were subject to sales tax of 3%. On August 15, Brenner Company paid the sales tax owed to the state from the July 5 transaction. Requirements 1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state on August 15. Requirement 1. Journalize the transaction to...
First Place Running Shoes reports the following: 2016 May 3 Oct. 1 Dec. 31 Recorded credit...
First Place Running Shoes reports the following: 2016 May 3 Oct. 1 Dec. 31 Recorded credit card sales of $93,000, net of processor fee of 1%. Ignore Cost of Goods Sold. Loaned $17,000 to Jackie Parker, an executive with the company, on a one-year, 6% note. Accrued interest revenue on the Parker note. 2017 Oct. 1 Collected the maturity value of the Parker note. Journalize all entries required for First Place Running Shoes. (Record debits first, then credits. Select the...
Transactions 2017 Mar. Apr. 3 Purchased a Steinway piano (inventory) for $41,500, signing a six-month, 10%...
Transactions 2017 Mar. Apr. 3 Purchased a Steinway piano (inventory) for $41,500, signing a six-month, 10% note. 30 Borrowed $50,000 on a 15% note payable that calls for annual installment payments of $25,000 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable. 3 Paid the six-month, 10% note at maturity. 31 Accrued warranty expense, which is estimated at 5.5% of sales of $196,000. 31 Accrued interest on the outstanding note payable. Sept....
First Place Running Shoes reports the following: 2016 Jan. 4 Recorded credit card sales of $91,000,...
First Place Running Shoes reports the following: 2016 Jan. 4 Recorded credit card sales of $91,000, net of processor fee of 3%. Ignore Cost of Goods Sold. Sep. 1 Loaned $12,000 to Jean Porter, an executive with the company, on a one-year, 8% note. Dec. 31 Accrued interest revenue on the Porter note. 2017 Sep. 1 Collected the maturity value of the Porter note. Journalize all entries required for First Place Running Shoes. (Record debits first, then credits. Select the...
Quick Running Shoes reports the following: (Click the icon to view the information.) Journalize all entries...
Quick Running Shoes reports the following: (Click the icon to view the information.) Journalize all entries required for Quick Running Shoes. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit More Info - X 2024 Apr. 3 96,000 Accounts Receivable Sales Revenue 96,000 2024 Apr. 3 Record credit sales Oct. 1 Recorded credit sales of $96.000. Ignore Cost of Goods Sold. Laaned $17,000 to Karen Parker,...
Chapter 11 1). On August 1, Cooking Fun Magazine collected cash of $72,000 on future annual...
Chapter 11
1).
On August 1, Cooking Fun Magazine collected cash of $72,000 on future annual subscriptions starting on September 1. Requirements 1. Journalize the transaction to record the collection of cash on August 1. 2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar.) Requirement 1. Journalize the transaction to record the collection of cash on August 1. (Record debits first, then credits. Select...
Distance Running Shoes reports the following: 2016 May 4 Recorded credit card sales of $96.000, net...
Distance Running Shoes reports the following: 2016 May 4 Recorded credit card sales of $96.000, net of processor fee of 3% Ignore Cost of Goods Sold Sep 1 Loaned $23,000 to Jean Pinket, an executive with the company, on a one-year, 12% note Dec. 31 Accrued interest revenue on the Pinket note 2017 Sep. 1 Collected the maturity value of the Pinket note. Journalize all entries required for Distance Running Shoes (Record debits first, then credits. Select the explanation on...
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...
Consider the following transactions of Oyster Software: Mar. 31 Recorded cash sales of $210,000, plus sales tax of 4% 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 $210,000, plus sales tax of 4% collected for the state of...
Journalize all entries required for SpeedySpeedy Running Shoes.
(Record debits first, then credits. Select the explanation on the
last line of the journal entry table.)
Speedy Running Shoes reports the following: (Click the icon to view the transaction information.) Journalize all entries required for Speedy Running Shoes (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 4, 2018: Recorded credit card sales of $145,000, net of processor fee of 1%. Ignore...
On July 5, Brenner Company recorded sales of merchandise inventory on account, $65,000. The sales were subject to sales tax of 3%. On August 15, Brenner Company paid the sales tax owed to the state from the July 5 transaction. Requirements 1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state on August 15. Requirement 1. Journalize the transaction to...
First Place Running Shoes reports the following: 2016 May 3 Oct. 1 Dec. 31 Recorded credit card sales of $93,000, net of processor fee of 1%. Ignore Cost of Goods Sold. Loaned $17,000 to Jackie Parker, an executive with the company, on a one-year, 6% note. Accrued interest revenue on the Parker note. 2017 Oct. 1 Collected the maturity value of the Parker note. Journalize all entries required for First Place Running Shoes. (Record debits first, then credits. Select the...
Transactions 2017 Mar. Apr. 3 Purchased a Steinway piano (inventory) for $41,500, signing a six-month, 10% note. 30 Borrowed $50,000 on a 15% note payable that calls for annual installment payments of $25,000 principal plus interest. Record the short-term note payable in a separate account from the long-term note payable. 3 Paid the six-month, 10% note at maturity. 31 Accrued warranty expense, which is estimated at 5.5% of sales of $196,000. 31 Accrued interest on the outstanding note payable. Sept....
First Place Running Shoes reports the following: 2016 Jan. 4 Recorded credit card sales of $91,000, net of processor fee of 3%. Ignore Cost of Goods Sold. Sep. 1 Loaned $12,000 to Jean Porter, an executive with the company, on a one-year, 8% note. Dec. 31 Accrued interest revenue on the Porter note. 2017 Sep. 1 Collected the maturity value of the Porter note. Journalize all entries required for First Place Running Shoes. (Record debits first, then credits. Select the...
Quick Running Shoes reports the following: (Click the icon to view the information.) Journalize all entries required for Quick Running Shoes. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit More Info - X 2024 Apr. 3 96,000 Accounts Receivable Sales Revenue 96,000 2024 Apr. 3 Record credit sales Oct. 1 Recorded credit sales of $96.000. Ignore Cost of Goods Sold. Laaned $17,000 to Karen Parker,...
Chapter 11
1).
On August 1, Cooking Fun Magazine collected cash of $72,000 on future annual subscriptions starting on September 1. Requirements 1. Journalize the transaction to record the collection of cash on August 1. 2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar.) Requirement 1. Journalize the transaction to record the collection of cash on August 1. (Record debits first, then credits. Select...
Distance Running Shoes reports the following: 2016 May 4 Recorded credit card sales of $96.000, net of processor fee of 3% Ignore Cost of Goods Sold Sep 1 Loaned $23,000 to Jean Pinket, an executive with the company, on a one-year, 12% note Dec. 31 Accrued interest revenue on the Pinket note 2017 Sep. 1 Collected the maturity value of the Pinket note. Journalize all entries required for Distance Running Shoes (Record debits first, then credits. Select the explanation on...
Most questions answered within 3 hours.
-
What taboo subject did Ida B. Wells suggest was consensual
between black men and white women?...
asked 56 minutes ago -
You have just been hired by the EPA to help with the new gas
mileage standards...
asked 1 hour ago -
4) A firm is hit by increases in its wage rate, w.
a) How does this...
asked 1 hour ago -
A square current loop 5.4 cm on each side carries a 510 mA
current. The loop...
asked 4 hours ago -
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 4 hours ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 4 hours ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 5 hours ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 5 hours ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 6 hours ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 6 hours ago -
A high-pass filter consists of a 1.60 μF capacitor in series
with a 125 Ω resistor....
asked 6 hours ago -
A newly developed artificial intelligence has trouble
distinguishing hand-written numbers from hand-written alphabets.
There are pictures...
asked 6 hours ago