Chris Company sold merchandise for cash to Shadi Company for $103,000 including 3% sales taxes.
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A:
Q: Kurt Company purchased $5,000 of merchandise from Marilyn Company with terms of 2/10 n/40. What…
A: The correct answer is $4,900.
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A: Sales tax = $3,500*10% Sales tax = $350
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Q: السؤال 10 ?Manama Trading has $ 8,000 of cash sales that are subject to an additional 8% sales tax,…
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A: Sales tax revenue refers to the amount of money collected by a government or tax authority from the…
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A: As per the given information:
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A: Sales tax = $16,000×7% = $1120
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- anhoe Corporation made credit sales of $18,600 which are subject to 7% sales tax. The corporation also made cash sales which taled $24,503 including the 7% sales tax. ) Prepare the entry to record Ivanhoe's credit sales. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before Credit entries.) Account Titles and Explanation Accounts Receivable Debit 18600 CreditDextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax, Record the entry for the $6,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15. View transaction list Journal entry worksheet 1 Record the cash sales and 5% sales tax. nces Note: Enter debits before credits. Date General Journal Debit Credit Sep 30 8:47 PM 3/27/2022 F6 F8 F9 F10 Insert Prt Sc F11 F12 Fn LockWebb Inc. sells $25,000 of merchandise to Jones and Sons on account, the terms were 2/10, n30. The cost of the merchandise is $12,500 Write the entry Webb would make to record this transaction. Sales $24,99
- Rangling Company, buys goods from A.J. Stop Company that gives sales terms of 2.5/10, net 30 days. Rangling has annual gross purchases of $1,000,000. Calculate the maximum amount of costly trade credit that Rangling could get, assuming it abides by the A.J.’s credit terms? (Assume a 365-day year.)Dillons Corporation made credit sales of $30 000 which are subject to 6% sales tax The corporation also made cash sales which totaled $20.670 including the 6% sales tax Prepare the entry to record Dillons Credit Sales O Accounts Receivable $30.000 Sales $30,000 O Accounts Receivable $30,000 Sales $28.200 Sales tax Payable $1 800 O Accounts Receivable $30,000 Sales $28.200 Cash $1.800 Accounts Receivable $31.800 $30 000 $1 800 Sales Sales tax PayableElegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells another cellular phone for $500. Sales tax is computed at 3.5% of the total sale. Prepare journal entries for each sale, including sales tax, and the remittance of all sales tax to the tax board on October 23.
- Cobb Baseball Bats sold 45 bats for $50 each, plus an additional state sales tax of 6%. The customer paid cash.Required:Prepare the journal entry to record the sale.Newton general merchandise had the following transactions in march 2021:March 2 Purchased merchandise to Php 36,000. Terms: 2/10, n/30 FOB shipping point. Paid the freign bill amounting to Php 4,000.March 5 Returned Php 3,000 of the merchandise purchased on March 2 because they were defective.March 8 Sold merchandise on account for Php 10,000. Terms 3/15, n/30. The cost of the merchandise sold was Php 6,000.March 10 Paid the purchase made on March 2 less the return and the discount.March 12 Received Php 2,000 of the merchandise sold on March 8. The cost of the merchandise returned was Php 1,200.March 22 Received cash from the March 8 custome in full settlement of his account less the return of the discount. Prepare the appropriate journal entries for both periodic and perpetual inventory systems.Darmstadt Company sold merchandise for which it received total cash payments of $2,632,200. A 7% sales tax was included in the total cash payments. The proper amount to record as sales would be: A) $2,460,000 B) $2,568,168 C) $2,447,946 D) $2,736,000
- Urban Star Sporting Goods must charge 8 percent sales tax on all sales. DATE TRANSACTIONS 20X1 Feb. 2 Sold merchandise totaling $4,800 plus tax to customers using bank credit cards. Record the 2 percent discount on credit card sales at time of sale. 15 Sold merchandise totaling $2,650 to customers using American Express. 20 Received amount due from American Express, less their 3 percent discount, for sales made by customers using American Express on February 15. Required: Record the above transactions of Urban Star Sporting Goods in a general journal. (Round your intermediate calculations and final answers to 2 decimal places.)Sheffield Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $27,500. All sales are subject to a 10% sales tax. Compute sales taxes payable. Sales taxes payable $Exceptional Electronics began operations September 1, 20X1. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent sales tax. The terms for all sales on credit are net 30. During September, Exceptional Electronics engaged in the following transactions: DATE TRANSACTIONS 20X1 Sept. 1 Sold a high-definition television set on credit to Candy Cho; issued Sales Slip 101 for $2,300 plus sales tax of $161. 3 Sold stereo equipment on credit to Jim Peterson; issued Sales Slip 102 for $1,000 plus sales tax of $70. 7 Sold a microwave oven on credit to Bridgette Huffman; issued Sales Slip 103 for $200 plus sales tax of $14. 12 Accepted return of defective stereo equipment from Jim Peterson; issued Credit Memorandum 101 for $100 plus sales tax of $7. The stereo equipment was sold on September 3. 15 Recorded cash sales for the period from September 1 to September 15 of $10,700 plus sales tax of $749. 16 Sold a gas dryer on credit…