125101112131415161718192021A B22232425ACCT 115 Sales Tax Module ProblemName:34 The yellow cells represent the where your you should be recording your responses.56What is the amount of sales tax to collect at the time of sale:78DRecord the Transaction for the Sale of the Tesla:DateAccount TitlesEFGH 1Recort the Transaction for Paying the Sales Tax Collected to the Government:DateAccount TitlesDr.Dr.JKLMCr.Cr.NCP You are the manager of a Tesla Car Dealership and you just sold a new Tesla S for $80,000 cash. TheCalifornia sales tax rate is 7.25% and there are no additional local sales taxes.Download this spreadsheet, fill in the yellow cells with your answers and save, then upload your completedspreadsheet and submit:Sales Tax Module Problem Solution Spreadsheet.xls

Sales tax = Sale value * sales tax rate = $80,000 * 7.25% = $5,800

What is the amount of sales tax to collect at the time of sale: Record the Transaction for the Sale of the Tesla: Date Account Titles Recort the Transaction for Paying the Sales Tax Collected to the Government: Date Account Titles Dr. Dr. Cr. Cr.

What is the amount of sales tax to collect at the time of sale: Record the Transaction for the Sale of the Tesla: Date Account Titles Recort the Transaction for Paying the Sales Tax Collected to the Government: Date Account Titles Dr. Dr. Cr. Cr.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ACCT 115 Sales Tax Module Problem
Name:
3
4 The yellow cells represent the where your you should be recording your responses.
5
6
What is the amount of sales tax to collect at the time of sale:
7
8
D
Record the Transaction for the Sale of the Tesla:
Date
Account Titles
E
FGH 1
Recort the Transaction for Paying the Sales Tax Collected to the Government:
Date
Account Titles
Dr.
Dr.
J
KLM
Cr.
Cr.
N
CP

You are the manager of a Tesla Car Dealership and you just sold a new Tesla S for $80,000 cash. The
California sales tax rate is 7.25% and there are no additional local sales taxes.
Download this spreadsheet, fill in the yellow cells with your answers and save, then upload your completed
spreadsheet and submit:
Sales Tax Module Problem Solution Spreadsheet.xls

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