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The company use aidS6 Oo sale On August the state. 0,...
Shepherd Cycles started August with 25 bicycles that cost $65 each. On August 16, Shepherd bought 50 bicycles at $80 ea...
Shepherd Cycles started August with 25 bicycles that cost $65 each. On August 16, Shepherd bought 50 bicycles at $80 each. On August 31, Shepherd sold 40 bicycles for $99 each. Requirements Prepare Shepherd Cycle's perpetual inventory record assuming the company uses the LIFO inventory costing method. 2. Journalize the August 16 purchase of merchandise inventory on account and the August 31 sale of merchandise inventory on account. 1. Requirement 1. Prepare Shepherd Cycle's perpetual inventory record assuming the company...
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...
On August 10, Wallace Company recorded sales of merchandise inventory on account, $3,200. The sales were...
On August 10, Wallace Company recorded sales of merchandise inventory on account, $3,200. The sales were subject to sales tax of 4%. The company uses the perpetual inventory system. On September 30, Wallace paid $378 of sales tax to the state. 1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state.
On August 10, Wallace Company recorded sales of merchandise inventory on account, $4,600. The sales were...
On August 10, Wallace Company recorded sales of merchandise inventory on account, $4,600. The sales were subject to sales tax of 6%. The company uses the perpetual inventory system. On September 30, Wallace paid $451 of sales tax to the state. 1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state.
Q Date Sep. 1 Item Balance Unit Cost $ 64 0 Sale uantity 10 5 15...
Q Date Sep. 1 Item Balance Unit Cost $ 64 0 Sale uantity 10 5 15 15 8 Purchase $ 72 Sale 30 Sale Requirement 2. Journalize Putter's Paradise's inventory transactions using the FIFO inventory costing method. (Assume purchases and sales are made on account.) (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by recording the entry to record the sale of the putters on account on the 6th. Date...
S11-2 Recording sales tax On July 5, Williams Company recorded sales of merchandise inventory on account,...
S11-2 Recording sales tax On July 5, Williams Company recorded sales of merchandise inventory on account, $55,000. The sales were subject to sales tax of 4%o. On August 15, Williams Company Objective 1 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
Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions...
Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during August between Summit Company and Beartooth Co.: Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during August between Summit Company and Beartooth Co.: Aug. 1. Summit Company sold merchandise on account to Beartooth Co., $48,750, terms FOB destination, 2/15, n/eom. The cost of the goods sold was $27,000. 2. Summit Company...
Mar Apr. 31 Recorded cash sales of $160,000, plus sales tax of 8% collected for the...
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...
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...
On July 5,WinterWinterCompany recorded sales of merchandise inventory on account, $60,000.The sales were subject to sales...
On July 5,WinterWinterCompany recorded sales of merchandise inventory on account, $60,000.The sales were subject to sales tax of3%.On August 15,Winter 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.
Shepherd Cycles started August with 25 bicycles that cost $65 each. On August 16, Shepherd bought 50 bicycles at $80 each. On August 31, Shepherd sold 40 bicycles for $99 each. Requirements Prepare Shepherd Cycle's perpetual inventory record assuming the company uses the LIFO inventory costing method. 2. Journalize the August 16 purchase of merchandise inventory on account and the August 31 sale of merchandise inventory on account. 1. Requirement 1. Prepare Shepherd Cycle's perpetual inventory record assuming the company...
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...
Q Date Sep. 1 Item Balance Unit Cost $ 64 0 Sale uantity 10 5 15 15 8 Purchase $ 72 Sale 30 Sale Requirement 2. Journalize Putter's Paradise's inventory transactions using the FIFO inventory costing method. (Assume purchases and sales are made on account.) (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by recording the entry to record the sale of the putters on account on the 6th. Date...
S11-2 Recording sales tax On July 5, Williams Company recorded sales of merchandise inventory on account, $55,000. The sales were subject to sales tax of 4%o. On August 15, Williams Company Objective 1 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
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...
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...
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