Entry to record sales taxes payable and sales, Accounting Basics

+44 141 628 6080
[email protected]

Entry to record sales taxes payable and sales

Leister Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $15,540. All sales are subject to a 5% sales tax. Compute sales taxes payable, and make the entry to record sales taxes payable and sales.

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Entry to record sales taxes payable and sales

Reference No:- TGS074171

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Analyze the reason why anzaldua''s borderland is effective

Analyze the reason why Anzaldua's borderland is effective. I have three reasons: 1) She's knowledgeable about her issue 2) She writes to the whole world(big audience) 3) Her unique language (mix code,poery.etc)

Q : Problem based on straight-line depreciation

Beck Bookstore purchased a desk at the beginning of 2006. The desk cost $800 and is expected to last seven years. It expected salvage value is $30. If Beck uses straight-line depreciation, what will the desk's net book value be at the end of 2008.

Q : Determine validity of the calculated elasticities

what implicit assumption is made in developing these elasticities which casts concerns about the validity of the calculated elasticities?

Q : How much was paid in cash dividends during the year

The beginning balance of retained earnings was $137,000,while the end of the year balance of retained earnings was $175,000.Net income for the year was $63,000. How much was paid in cash dividends during the year?

Q : Entry to record sales taxes payable and sales

Q : As one of the managers of futura

As one of the managers of Futura, a hair care and skin products company, you are alarmed at a newspaper article you just saw. A stockbroker for Smith Barney was making cold calls on is personal cell phone while driving. His car hit and killed a motrc

Q : What is the annual depreciation rate

A truck was purchased for $90,000 and it was estimated to have an $18,000 salvage value at the end of its useful life. Monthly depreciation expense of $1,500 was recorded using the straight-line method. what is the annual depreci

Q : Estimates bad debt expense

Calistoga Produce estimates bad debt expense at ½% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $471,000 and $1,650 respectively, at December 31, 2010. During 2011, Calistoga's credit

Q : Is there any way to sell different price plan to businesses

Is there any way you can sell two different price plans to these businesses? Why? Why not? What are your profits?

1940011

Questions
Asked

3,689

Active Tutors

1426918

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Entry to record sales taxes payable and sales

Reference No:- TGS074171

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Analyze the reason why anzaldua''s borderland is effective

Q : Problem based on straight-line depreciation

Q : Determine validity of the calculated elasticities

Q : How much was paid in cash dividends during the year

Q : Entry to record sales taxes payable and sales

Q : As one of the managers of futura

Q : What is the annual depreciation rate

Q : Estimates bad debt expense

Q : Is there any way to sell different price plan to businesses

What are the three broad psychology career paths

What are your most important goals right now

Examining audience demographics and psychographics

When resistance or relapse are experienced or expressed

Introduction for a mock research paper

Discuss five sets of forces that led to the criminalization

Provide evidence for r-o theory of instrumental conditioning

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Entry to record sales taxes payable and sales

Reference No:- TGS074171

Recent Questions Asked Accounting Basics

Q : Analyze the reason why anzaldua''s borderland is effective

Q : Problem based on straight-line depreciation

Q : Determine validity of the calculated elasticities

Q : How much was paid in cash dividends during the year

Q : Entry to record sales taxes payable and sales

Q : As one of the managers of futura

Q : What is the annual depreciation rate

Q : Estimates bad debt expense

Q : Is there any way to sell different price plan to businesses

Asked Questions