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S11-2 Recording sales tax On July 5, Williams Company recorded sales of merchandise inventory on account,...
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.
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 July 5, W company recorded sales of merchandise inventory on account, $ 60000. The sales...
On July 5, W company recorded sales of merchandise inventory on account, $ 60000. The sales were subject to sales tax of 4%. On August 15, W company paid the sales tax owed to the state from the July 5 transaction. Journalize the transaction to record sale. 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, $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.
Please answer in same format. The company use aidS6 Oo sale On August the state. 0,...
Please answer in same format.
The company use aidS6 Oo sale On August the state. 0, Hanley om any recorded sales of merchandise inventory on account, 54 e sa s ere su e to saes ax o 0 the perpetua inventory system n eptember 0 Hane to 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. Record debits first,...
4 Journalize the following transactions assuming the perpetual inventory system: Sold merchandise on account for $3,750...
4 Journalize the following transactions assuming the perpetual inventory system: Sold merchandise on account for $3,750 with terms n/30. The cost of the merchandise sold was $2,000. Issued credit memo for $1,050 for merchandise returned from sale on July 3. The cost of the merchandise returned was $610. Received check for the amount due for sale on July 3 less return on July 5. Sold merchandise for $7,000 plus 6% sales tax to cash customers. The cost of the merchandise...
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...
Tsang Corporation operates in a state with no sales tax. The company uses the perpetual inventory...
Tsang Corporation operates in a state with no sales tax. The company uses the perpetual inventory system. DATE TRANSACTIONS 2019 June 5 Sold merchandise on account to Benson Company; issued Sales Slip 1200 for $1,065, terms n/30. The cost of the merchandise sold was $737. 15 Recorded cash sales, $2,120. The cost of merchandise sold was $1,538. 30 Received payment on account due from Benson Company for the sale on June 5. Record these transactions in a general journal. View...
Saved Help Save & Exit Submit Check my work Harwell Company manufactures automobile tires. On July...
Saved Help Save & Exit Submit Check my work Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,000 tires to the Nixon Car Company for $50 each. The terms of the sale were 2/10,n/30. Harwell uses the net method of accounting for cash discounts Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale...
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...
Please answer in same format.
The company use aidS6 Oo sale On August the state. 0, Hanley om any recorded sales of merchandise inventory on account, 54 e sa s ere su e to saes ax o 0 the perpetua inventory system n eptember 0 Hane to 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. Record debits first,...
4 Journalize the following transactions assuming the perpetual inventory system: Sold merchandise on account for $3,750 with terms n/30. The cost of the merchandise sold was $2,000. Issued credit memo for $1,050 for merchandise returned from sale on July 3. The cost of the merchandise returned was $610. Received check for the amount due for sale on July 3 less return on July 5. Sold merchandise for $7,000 plus 6% sales tax to cash customers. The cost of the merchandise...
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...
Tsang Corporation operates in a state with no sales tax. The company uses the perpetual inventory system. DATE TRANSACTIONS 2019 June 5 Sold merchandise on account to Benson Company; issued Sales Slip 1200 for $1,065, terms n/30. The cost of the merchandise sold was $737. 15 Recorded cash sales, $2,120. The cost of merchandise sold was $1,538. 30 Received payment on account due from Benson Company for the sale on June 5. Record these transactions in a general journal. View...
Saved Help Save & Exit Submit Check my work Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,000 tires to the Nixon Car Company for $50 each. The terms of the sale were 2/10,n/30. Harwell uses the net method of accounting for cash discounts Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale...
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