Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Need help trying to solve these accounting questions don't understand them Year 1. November was the first month of operations. Sales tax is collected at the time of sale but is not paid to the state sales tax agency until the following month.
1. Cash sales for November Year 1 were $100,000 plus sales tax of 9 percent.
2. Book Yard paid the November sales tax to the state agency on December 7, Year 1.
3. Cash sales for December Year 1 were $80,000 plus sales tax of 9 percent.
Required -
a. What was the total amount of sales tax paid in Year 1?
b. What was the total amount of sales tax collected in Year 1?
c. What is the amount of sales tax liability as of December 31, Year 1?
d. On which financial statement will the sales tax liability appear?
Net sales for the year are $800,000, uncollectible accounts expense is estimated at 3% of net sales, Prepare the adjusting entry at year end for uncollectible
On February 1, 2010, Pat Weaver Inc. (PWI) issued 9%, $1,400,000 bonds for $1,700,000. PWI retired all of these bonds on January 1, 2011, at 102. Unamortized bond premium on that date was $142,800. How much gain or loss should be recognized on thi..
lanier company began operations on january 1 2012 and uses the fifo method in costing its raw material inventory.
Define the process you will use and address the following assessed classroom discussion questions: What procedures will be used to collect accounting evidence? What sampling tools and techniques will be used for the examination?
During the month of June, Indigo Boutique had cash sales of $259,350, Prepare the adjusting entry that should be recorded
Summarize Results For A Business Analytics Study. Reading: An integrated - optimization/information system for academic departmental planning.
1 your accounting supervisor has instructed you to verify the accuracy of the day s bank credit card sales and then
On 12/14/2016, Willies' Groceries makes total credit card sales for $1400 with a finance company-issued credit card, Prepare the journal to record the sale
Superior Construction Pte Ltd is a successful company dealing with many major projects in Singapore
Prepare journal entries for the following transactions. The company purchased a fixed asset for $9,000, paying $3,000 cash as a deposit
on june 30 2007 semiannual secured bonds having a face value of 200000 a life of 10 years and a coupon rate of 7 were
Exponential means-singly censored. Suppose that one observes the first rk order statistics of a sample of size n , from an exponential distribution with mean θk = 1,. . . , K . where the samples are statistically independent.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd