Solution-Prepare the entries to record the sales

Prepare the entries to record the sales transactions

Assignment Help Cost Accounting

Reference no: EM13531911

In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales.

1. Duvall Company rings up sales and sales taxes separately on its cash register. On April 10, the register totals are sales $22,000 and sales taxes $1,100.

2. Hubbard Company does not segregate sales and sales taxes. Its register total for April 15 is $13,780, which includes a 6% sales tax.

Instructions

Prepare the entries to record the sales transactions and related taxes for (a) Duvall Company and (b) Hubbard Company.

Reference no: EM13531911

Questions Cloud

Considered to be evidence that species are related : Which of the followingis (are) considered to be evidence that species are related?

Record the companys payroll tax expense : Prepare the necessary March 31 journal entry to record wages expense and wages payable. Assume that wages earned during March will be paid during April.

How to decomposes samples of water into hydrogen and oxygen : A chemist decomposes several samples of water into hydrogen and oxygen and weighs the hydrogen and oxygen obtained. The results are: 1) 1.5g H and 12g O 2) 2g H and 16g O 3) 2.5g H and 20g O.

Highest amount of chemical energy : Which of the following molecules has the highest amount of chemical energy that can beconverted into ATP

Prepare the entries to record the sales transactions : Prepare the entries to record the sales transactions and related taxes for (a) Duvall Company and (b) Hubbard Company.

Explain what must be the reaction temperature : What must be the reaction temperature if a rate of 1.000 x 10^-9 M/s is required and [C] must be kept at 0.03000M. What must be the value of k to achieve the necessary rate?

Determine the resulting aminoacid sequence : Translation: During protein synthesis at theribosome, the base sequence of the mRNA codons is translated to theamino acid sequence of a protein. Using the mRNA that you transcribedabove, use the genetic code table to determine the resulting aminoaci..

Prepare the journal entry to record interest expense : Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2012, assuming no previous accrual of interest.

What is the magnitude of the unknown force in newtons : A mass of 6 kg lies on a horizontal, frictionless floor. A force of 85 Newtons pushes to the left (negative x direction) with a force of 85 Newtons. What is the magnitude of the unknown force in Newtons

User Account

All Pages

Prepare the entries to record the sales transactions

Reference no: EM13531911

Reference no: EM13531911

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT