User Account

All Pages

.dextra computing sells merchandise

Assignment Help Accounting Basics
Reference no: EM13901948

1.Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). The sales tax law requires Dextra to collect 5% sales tax on every dollar of merchandise sold. Record the entry for the $ 6,000 sale and its applicable sales tax. Also record the entry that shows the remittance of the 5% tax on this sale to the state government on October 15.

Reference no: EM13901948

Questions Cloud

What is the average number of hamburgers on the grill : A fast-food restaurant makes hamburgers on a grill. At any given time, only four hamburgers can fit on the grill. If there is no room on the grill, the customers are asked to order a different item that does not require the grill. Develop the balance..
Does the process appear to have been in control : Does the process appear to have been in control? Determine control limits for future production.
Record the revenue earned : Record the revenue earned for the first concert date of November 5, assuming it represents one fourth of the advance ticket sales.
Does it appear that the process was in control throughout : Does it appear that the process was in control throughout? If not, determine revised control limits if possible.
.dextra computing sells merchandise : 1.Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900).
Compute the values of the limits for the x and s charts : If the specification limits are 430 ± 30, what conclusions can you draw regarding the ability of the process toproduce items within these specifications?
Discuss why coca-cola is willing to sell shares of its stock : Discuss why Coca-Cola is willing to sell shares of its stock to employees at a price (option exercise price) much lower than the firm could obtain for shares sold on the market (market price at time of exercise).
The following legal claims exist for huprey : The following legal claims exist for Huprey Co. Identify the accounting treatment for each claim as either
Segmentation for businesses that sell and market : This question is about segmentation for businesses that sell and market to other businesses. Briefly describe what NAICS codes are and their purpose. Briefly describe what NAPCS codes are and their purpose

Reviews

Write a Review

Accounting Basics Questions & Answers

  Demonstrate your comprehension of accounting systems

The project will demonstrate your comprehension of accounting systems and your ability to effectively communicate in writing. Assume you are the owner of a small CPA practice in a major metropolitan area

  Reporting investment using the equity method

At the end of the year, Watkins still holds only $20,000 of mechandise. What ammount of unrealized gross profit must Panner defer in reporting this investment using the equity method?

  Tigubuki company a sofa maker uses a standard costing

tigubuki company a sofa maker uses a standard costing system. each sofa contains 2 metres of material. however there is

  Give the entries necessary to record the valuations for

a bennet company paid cash dividends totaling 150000 in 2006 and 75000 in 2007. in 2008 bennett intends to pay cash

  Determine total flexible budget materials variance

Determine the total flexible budget materials variance for pigment. Indicate whether the variance is favorable or unfavorable and determine the materials price variance and indicate whether the variance is favorable (F) or unfavorable (U).

  What are at least three international accounting standards

what are at least three international accounting standards iass? are these standards the same as us standards? why or

  Compute the issue price of the bonds

Compute the issue price of the bonds on January 1, 2003. Provide the journal entry to record the issuance of the bonds on January 1, 2003. Provide the journal entry that Buster should make on December 31, 2003 assuming the effective interest method.

  If the firm desires to net 450 per unit in profit over

taurus tools has developed a new kitchenutensil. the firm has conducted significant market research and estimated the

  What is the earliest completion time for a project with

what is the earliest completion time for a project with this information about activitiesactivityoptimistic timemost

  The average health care costs per year for a sample of us

the average health care costs per year for a sample of u.s. cities 50000200000 population are 586. u.s. department of

  Which principle of accounting is being violated

Much has been written about accounting the accounting fraud and subsequent bankrupt of world com. The baltimore sun reported that "the fraud was brazen and easy to spot.

  Sonne company produces a perfume called whim the direct

sonne company produces a perfume called whim. the direct materials and direct labor standards for one bottle of whim

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