In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Sunland Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $31,500 and sales taxes $1,575. 2. Crane Company does not segregate sales and sales taxes. Its register total for April 15 is $23,850, which includes a 6% sales tax. Prepare the entry to record the sales transactions and related taxes for Sunland Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 10 enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount eTextbook and Media List of Accounts Prepare the entry to record the sales transactions and related taxes for Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 15 enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Sunland Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $31,500 and sales taxes $1,575. 2. Crane Company does not segregate sales and sales taxes. Its register total for April 15 is $23,850, which includes a 6% sales tax. Prepare the entry to record the sales transactions and related taxes for Sunland Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 10 enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount eTextbook and Media List of Accounts Prepare the entry to record the sales transactions and related taxes for Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 15 enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.
1. | Sunland Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $31,500 and sales taxes $1,575. | |
2. | Crane Company does not segregate sales and sales taxes. Its register total for April 15 is $23,850, which includes a 6% sales tax. |
Prepare the entry to record the sales transactions and related taxes for Sunland Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|---|
Apr. 10
|
enter an account title to record the sales transactions and related taxes for Sunland Company on April 10
|
enter a debit amount
|
enter a credit amount
|
enter an account title to record the sales transactions and related taxes for Sunland Company on April 10
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title to record the sales transactions and related taxes for Sunland Company on April 10
|
enter a debit amount
|
enter a credit amount
|
eTextbook and Media
List of Accounts
Prepare the entry to record the sales transactions and related taxes for Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|---|
Apr. 15
|
enter an account title to record the sales transactions and related taxes for Crane Company on April 15
|
enter a debit amount
|
enter a credit amount
|
enter an account title to record the sales transactions and related taxes for Crane Company on April 15
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title to record the sales transactions and related taxes for Crane Company on April 15
|
enter a debit amount
|
enter a credit amount
|
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