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In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales.
1. Warkentinne Company rings up sales and sales taxes separately on its cash register. OnApril 10, the register totals are sales $30,000 and sales taxes $1,500.
2. Rivera Company does not segregate sales and sales taxes. Its register total for April 15 is $23,540, which includes a 7% sales tax.
Instructions
Prepare the entry to record the sales transactions and related taxes for each client.
Prepare in general journal form all journal entries that should have been made during the fiscal year ended June 30, 2009 to record the above information in the capital projects fund (including closing entry).
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bronzeville products wants an airplane for use by its corporate staff. the airplane that the company wishes to acquire
The company's flexible budget performance report for last month showed an $8,140 unfavorable spending variance for supplies. During that month, 21,250 units were produced. Budgeted activity for the month had been 20,900 units. What is the actual c..
oslo compnay prepared the following contribution income statement based on a sales volume of 100 units the relevant
1. Compute the manufacturing product cost per unit for each type of bookcase.
getchman marketing inc. a merchandising company reported sales of 592500 and cost of goods sold of 305000 for april.
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