Warehouse, a leather shop that sells luggage, handbags, business cases, and er goods. During the month of May, the following transactions took place. The applicable sales tax rate is 6%.
May 2 Sold merchandise on account to James Koffsky, $250.00, plus sales tax.
9 Sold merchandise on account to Kevin Nolon, $470.00, plus sales tax.
12 James Koffsky returned $40.00 worth of merchandise purchased on May 2 for credit. ld merchandise on account to 18 Joyce McKay, $110.00, plus sales tax.
19 Sold merchandise on account to Tim Caney, $165.00, plus sales tax.
22 Received payment from James Koffsky on account.
26 Joyce McKay was given an allowance of $30.00 when she reported damage in the merchandise purchased May 18.
28 Sold merchandise on account to James Koffsky, $500.00, plus sales tax. 22 26 28 31 31
29 Sold merchandise on acount to Kevin Nolon, $230.00, plus sales tax.
31 Received payment from Joyce McKay on account
31 Cash sales for the month were $2,600, plus sales tax
Required:
1. Enter the above transactions in the appropriate journal
2. Post the entries from the journals to the subsidiary ledgers
Answers: 2
Business, 21.06.2019 18:30
Which of the following accurately describes one way that individual goods differ from public goods? a. people can be excluded from using individual goods if they don't pay. b. all individual goods are normal goods. c. demand for individual goods is always inelastic. d. consumer rivalry results in decreasing marginal utility for individual goods.2b2t
Answers: 3
Business, 22.06.2019 08:20
How much does a neurosurgeon can make most in canada? give me answer in candian dollar
Answers: 1
Business, 23.06.2019 02:00
Imprudential, inc., has an unfunded pension liability of $572 million that must be paid in 25 years. to assess the value of the firm’s stock, financial analysts want to discount this liability back to the present. if the relevant discount rate is 6.5 percent, what is the present value of this liability? (do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89)
Answers: 3
Business, 23.06.2019 02:30
Harmon inc. produces joint products l, m, and n from a joint process. information concerning a batch produced in may at a joint cost of $75,000 was as follows:
Answers: 3
Warehouse, a leather shop that sells luggage, handbags, business cases, and er goods. During the mon...
Mathematics, 28.10.2020 05:40
World Languages, 28.10.2020 05:40
Arts, 28.10.2020 05:40
Mathematics, 28.10.2020 05:40
Mathematics, 28.10.2020 05:40
Chemistry, 28.10.2020 05:40
Social Studies, 28.10.2020 05:50
Mathematics, 28.10.2020 05:50
English, 28.10.2020 05:50
Mathematics, 28.10.2020 05:50
Chemistry, 28.10.2020 05:50