User Account

All Pages

How to prepare the general journal entry

Assignment Help Accounting Basics
Reference no: EM132722593

Question - How do prepare journal entry for this question?

The balances of certain accounts of Brittany Corporation on April 30, 2019, were as follows:

Sales $220,000

Sales Returns and Allowances $2,000

The firm's net sales are subject to a 6 percent sales tax. How to prepare the general journal entry to record payment of the sales tax payable on April 30, 2019?

Reference no: EM132722593

Questions Cloud

Why important for the organization to view all the component : Why important for the organization to view all the components of staffing (recruitment, selection, and employment) from the perspective of the job applicant?
Explain the disadvantages of technology based training : Which method do you think would be best to train Starbucks managers on how to implement its five year strategic plan and why?
Make Swifty journal entries for the initial transaction : Make Swifty's journal entries for the initial transaction, recognition of interest each year assuming use of the effective interest method
How can an organization best position to be most competitive : Are there other sources of competitive advantage for an organization? What might some of those be? How can an organization best position
How to prepare the general journal entry : The firm's net sales are subject to a 6 percent sales tax. How to prepare the general journal entry to record payment of the sales tax payable on April 30, 2019
How do think nick should have behaved in the situation : What are the instances where you think Nick went wrong and could have displayed a more professional behaviour as Mary's boss?
What was the beginning cash balance : During the amount of February, BUTLER Company had cash receipts of P6,500 and cash disbursements of P8,000. What was the beginning cash balance
How can managers become effective coaches : What are some specific things that managers can do to be seen as a performance development coach, rather than a manager, in the workplace?
Find the maximum revenue : Suppose a company has fixed costs of $51,000 and variable cost per unit of 1/3xxx + 222 dollars,where is the total number of units produced.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the statement of operations

How is the information provided to a user of a not-for-profit hospital's financial statements different from that provided by a "generic" not-for-profit?

  What impact will this have on gross profit and net income

What caused the FIFO and LIFO gross profit figures to differ? What impact will this have on gross profit and net income

  What journal entry would need to be made on company books

What journal entry would need to be made on the company's books to record the decrease in the fund

  What is the default risk premium on the corporate bonds

A company's 5-year bonds are yielding 7.4% per year. Treasury bonds with the same maturity are yielding 5.2% per year, and the real risk-free rate (r*) is 2.5%.

  Make the lower portion of the income statement

Please help me make the lower portion of the 2021 income statement beginning with income from continuing operations before income taxes

  What are the major advantages of the use of special journals

What are the major advantages and disadvantage of the use of special journals?Firstly discuss what the mean of journel and how to use .

  What types of businesses handle lots of cash

This week's fraud topics are cash larceny and billing schemes. What types of businesses and industries are particularly prone to these fraud issues?

  Identify the entities that were mentioned in the scenario

what happened to the cash accounts of each entity that you identify.

  Explain why stewardship is an important concept

Explain why stewardship is an important concept. What three traditional functions does accounting fulfill? What types of groups regulate financial accounting statements?

  What should we consider next

if a loss contingency is probably or estimable but not both, what should we consider next? What must we disclose to the readers of the financial statements?

  What is the total profit from all sales

Sales without the special order are 50,000 units. What is the total profit from all sales, assuming the special order is accepted

  How will the company gross margin be calculated

Which of the following activities can and should proceed in the absence of a budget? Worldwide Courier responds to a government plea for help in delivering.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd