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Question 11 (0.5 points) Enochs Sporting Goods made cash sales of merchandise with a retail price...
QS 11-2 Accounting for sales taxes LO C2 Dextra Computing sells merchandise for $8,000 cash on...
QS 11-2 Accounting for sales taxes LO C2 Dextra Computing sells merchandise for $8,000 cash on September 30 (cost of merchandise is $5,600). The sales tax law requires Dextra to collect 2% sales tax on every dollar of merchandise sold. Record the entry for the $8,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 2% tax on this sale to the state government on October 15. View transaction list Journal entry worksheet...
Merchandise is sold for cash. The selling price of the merchandise is $3,200 and the sale...
Merchandise is sold for cash. The selling price of the merchandise is $3,200 and the sale is subject to a 6% state sales tax. The Journal entry to record the sale would include a credit to Oa. Cash for $3,200 Ob. Sales Tax Payable for $192 c. Sales for $3,008 Od. Sales for $3,392
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...
Dextra Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $3,000). Dextra...
Dextra Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $3,000). Dextra collects 8% sales tax Record the entry for the $5,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15 View transaction list Journal entry worksheet 2 < 1 Record the cash sales and 8% sales tax Note: Enter debits before credits. Date General Journal Debit Credit Cash 5,400...
Dextra Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $3,000). The...
Dextra Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $3,000). The sales tax law requires Dextra to collect 8% sales tax on every dollar of merchandise sold. Record the entry for the $5,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 8 % tax on this sale to the state government on October 15 View transaction list extra Computing sells merchandise for $5,000 cash on September 30...
Merchandise is sold for cash. The selling price of the merchandise is $2,700, and the sale...
Merchandise is sold for cash. The selling price of the merchandise is $2,700, and the sale is subject to a 6% state sales tax. The journal entry for the sale would include a credit to Oa. Sales Tax Payable for $162 Ob. Sales for $2,562 Oc. Sales for $2.538 Od. Cash for $2,700
Dextra Computing sells merchandise for $8,000 cash on September 30 (cost of merchandise is $5,600). The...
Dextra Computing sells merchandise for $8,000 cash on September 30 (cost of merchandise is $5,600). The sales tax law requires Dextra to collect 2% sales tax on every dollar of merchandise sold. Record the entry for the $8,000 sale and its applicable sales tax Also record the entry that shows the payment of the 2% tax on this sale to the state government on October 15. View transaction list Journal entry worksheet Record the cash sales and 2% sales tax....
Calculator Merchandise is sold for cash. The selling price of the merchandise is $3,700 and the...
Calculator Merchandise is sold for cash. The selling price of the merchandise is $3,700 and the sale is subject to a 7% state sales tax. The journal entry to record the sale would include credit to Ca. Cash for $3,700 b. Sales Tax Payable for $259 c. Sales for $3.959 d. Sales for $3,700 The inventory data for an item for November are: Nov. 1 Inventory 24 units at $20 4 Sold 9 units 10 Purchased 35 units at $22...
Problem 7.1A Recording sales and cash receipts for a retail store. LO 7-1, 7-4 The Appliance...
Problem 7.1A Recording sales and cash receipts for a retail store. LO 7-1, 7-4 The Appliance Store began operations March 1, 2019. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During March, The Appliance Store engaged in the following transactions: DATE TRANSACTIONS 2019 March 1 Sold merchandise on credit to Dave Allen; issued Sales Slip 101 for $550 plus sales tax of $33. 4 Sold merchandise on credit...
Question 6 (10 points) A company received cash sales of $15000. They also collected $43000 in...
Question 6 (10 points) A company received cash sales of $15000. They also collected $43000 in receivat during the month. Answer questions 4 to 6 with this information. 5. What is the journal entry for the collection of the sales? Debit Sales and Credit Expense Credit Sales and Debit Expense Debit Sales and Credit Cash Debit Cash and Credit Sales Question 7 (10 points) A company received cash sales of $15000. They also collected $43000 in receivables during the month....
QS 11-2 Accounting for sales taxes LO C2 Dextra Computing sells merchandise for $8,000 cash on September 30 (cost of merchandise is $5,600). The sales tax law requires Dextra to collect 2% sales tax on every dollar of merchandise sold. Record the entry for the $8,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 2% tax on this sale to the state government on October 15. View transaction list Journal entry worksheet...
Merchandise is sold for cash. The selling price of the merchandise is $3,200 and the sale is subject to a 6% state sales tax. The Journal entry to record the sale would include a credit to Oa. Cash for $3,200 Ob. Sales Tax Payable for $192 c. Sales for $3,008 Od. Sales for $3,392
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...
Dextra Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $3,000). Dextra collects 8% sales tax Record the entry for the $5,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15 View transaction list Journal entry worksheet 2 < 1 Record the cash sales and 8% sales tax Note: Enter debits before credits. Date General Journal Debit Credit Cash 5,400...
Dextra Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $3,000). The sales tax law requires Dextra to collect 8% sales tax on every dollar of merchandise sold. Record the entry for the $5,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 8 % tax on this sale to the state government on October 15 View transaction list extra Computing sells merchandise for $5,000 cash on September 30...
Merchandise is sold for cash. The selling price of the merchandise is $2,700, and the sale is subject to a 6% state sales tax. The journal entry for the sale would include a credit to Oa. Sales Tax Payable for $162 Ob. Sales for $2,562 Oc. Sales for $2.538 Od. Cash for $2,700
Dextra Computing sells merchandise for $8,000 cash on September 30 (cost of merchandise is $5,600). The sales tax law requires Dextra to collect 2% sales tax on every dollar of merchandise sold. Record the entry for the $8,000 sale and its applicable sales tax Also record the entry that shows the payment of the 2% tax on this sale to the state government on October 15. View transaction list Journal entry worksheet Record the cash sales and 2% sales tax....
Calculator Merchandise is sold for cash. The selling price of the merchandise is $3,700 and the sale is subject to a 7% state sales tax. The journal entry to record the sale would include credit to Ca. Cash for $3,700 b. Sales Tax Payable for $259 c. Sales for $3.959 d. Sales for $3,700 The inventory data for an item for November are: Nov. 1 Inventory 24 units at $20 4 Sold 9 units 10 Purchased 35 units at $22...
Problem 7.1A Recording sales and cash receipts for a retail store. LO 7-1, 7-4 The Appliance Store began operations March 1, 2019. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During March, The Appliance Store engaged in the following transactions: DATE TRANSACTIONS 2019 March 1 Sold merchandise on credit to Dave Allen; issued Sales Slip 101 for $550 plus sales tax of $33. 4 Sold merchandise on credit...
Question 6 (10 points) A company received cash sales of $15000. They also collected $43000 in receivat during the month. Answer questions 4 to 6 with this information. 5. What is the journal entry for the collection of the sales? Debit Sales and Credit Expense Credit Sales and Debit Expense Debit Sales and Credit Cash Debit Cash and Credit Sales Question 7 (10 points) A company received cash sales of $15000. They also collected $43000 in receivables during the month....
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