Enter the transactions in a sales journal

Assignment Help Accounting Basics
Reference no: EM132722007

Problem - Enter the following transactions in a sales journal. Use a 6% sales tax rate.

May 1 Sold merchandise on account to J. Adams, $2,000, plus sales tax. Sale No 488.

May 4 Sold merchandise on account to B. Clark, $1,800, plus sales tax. Sale No. 489.

May 8 Sold merchandise on account to A. Duck, $1,500, plus sales tax. Sale No. 490.

May 11 Sold merchandise on account to E. Hill, $1,950, plus sales tax. Sale No. 491.

Reference no: EM132722007

Questions Cloud

Challenges and constraints that some organizations : What do you think are challenges and constraints that some organizations have, reasons that they may not be able to apply those practices?
What serious ethical violation could occur : What serious ethical violation could occur if a counselor administered a psychological test incorrectly or without considering multicultural factors?
Evaluate what particular aspects of the business environment : Critically evaluate what particular aspects of the business environment it must take into account when assessing the decision to internationalise or not?
Prepare organization for risk management : Discuss how you would prepare your organization for risk management at a time of disaster. Please provide a detailed response
Enter the transactions in a sales journal : Enter the following transactions in a sales journal. Use a 6% sales tax rate. May 11 Sold merchandise on account to E. Hill, $1,950, plus sales tax. Sale No 491
Determine and find what the value of the stock is : Find what the value of the stock is?SC is expected to pay a dividend of $2.00 in the coming year. Dividends are expected to grow at the rate
Responsibilities of the in-house team of an organization : Atkin and Brooks (2015) stated that it is essential that members of the in-house team recognize that they should operate in the same way as would an external
What the npv of michael decision to accept batman films is : Michael assumes his personal cost of capital is 10%. Based on this information, the NPV of Michael's decision to accept Batman films is
Explain the type of departmentation at desla : Identify and explain the type of departmentation at Desla. Explain the advantages and disadvantages of this type of structure; and

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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