User Account

All Pages

Prepare the entries to record the sales transactions

Assignment Help Accounting Basics
Reference no: EM133101588

Question - In performing accounting services for small businesses, you encounter these situations pertaining to cash sales.

1. Blossom Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $30,000 and sales taxes $1,500.

2. Nash Company does not segregate sales and sales taxes. Its register total for April 15 is $21,200, which includes a 6% sales tax.

Required - Prepare the entries to record the sales transactions and related taxes for each client.

Reference no: EM133101588

Questions Cloud

Prepare journal entries for each of the transactions : July 1, 2022 Borrows $50,500 from First National Bank by signing a 9-month, 8% note. Prepare journal entries for each of the transactions
Future of digital commerce on entrepreneurs : Select any FIVE (5) useful apps for entrepreneurs that can be utilized to enhance their business in the digital commerce world.
Based on uber accounting error : Based on the Uber accounting error discussed in the video introduction, Review required deductions for accuracy prior to finalizing payroll.
How to write scope of the project with examples : How to write scope of the project with examples
Prepare the entries to record the sales transactions : On April 10, the register totals are sales $30,000 and sales taxes $1,500. Prepare the entries to record the sales transactions
Concept in economics and finance is time value of money : A key concept in economics and finance is the time value of money. How do you think the concept of supply and demand impacted the investment decision?
Diversity to employees performance for rrl : Where to find up to date articles about the effect of workplace diversity to employees performance for RRL.
How do you communicate goal to all of your employees : You are the manager in a call center that includes top performers, mediocre performers and poor performers. As a result, the average wait time that a customer i
Prepare the entry in november for receipt of subscriptions : During November 2022, Sunland sells 24,000 subscriptions beginning with the December issue. Prepare the entry in November for receipt of subscriptions

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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