Make journal entries to record the following transactions. Explanations are not required. May 31 Recorded cash sales

Question:

Make journal entries to record the following transactions. Explanations are not required.

May 31 Recorded cash sales of $420,000 for the month, plus sales tax of 5% collected for the state of Maine. Ignore cost of goods sold.

Jun 6 Sent May sales tax to the state.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

See More Books

Question Posted: Apr 29, 2014 02:56 AM

See More Questions

Make general journal entries to record the following transactions of Mehta Products for a two-month period: Jun. 30 Recorded cash sales of $115,000 for the month plus PST of 8 percent collected on...
Make general journal entries to record the following transactions of Mehta Products for a two-month period. Explanations are not required. Jun. 30 Recorded cash sales of $115,000 for the month, plus...
Required Prepare General Journal entries to record the following transactions of Leduc Company: 2014 Dec 11 Accepted a $15,000, 6%, 60-day note dated this day in granting Fred Calhoun a time...
What do you think people would say about Corrie from the few quotes we have from her book? What was her personality like? Do you think she handled her incarceration differently than Elie Wiesel?...
Find for the following forms of A(T). Do the results make sense? In general, assuming A(0) = 0. c A(T) im472 lim-
Find the residual gauge freedom in the Coulomb gauge.
The report Net Zero Momentum Tracker: Superannuation Sector examines 20 of the largest superannuation funds in Australia, and looks at these organisations different investment styles and...
The City of Manhattan, Kansas, prepares an annual Budget Book, a comprehensive document that includes a citywide budget, as well as departmental budgets. The city has received the GFOA Distinguished...
estion 45: Which key lets you select multiple worksheets in a workbook? swer: (Shift) 13 (Tab) O (Alt) O (Enter)
Mason Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made. 1. A...
Success Magazine, Inc., includes the following selected accounts in its general ledger at December 31, 2012: Prepare the liabilities section of Success Magazines balance sheet at December 31, 2012,...
Record the following note payable transactions of Cigliano, Corp., in the companys journal. Explanations are not required. 2012 Nov 1 Purchased equipment costing $28,000 by issuing a one-year, 9%...
The center (Exercise 2.11) of the group D n is (e) if n is odd and isomorphic toZ 2 if n is even. Exercise 2.11 Find all normal subgroups of Dn.
Some light bulbs use a glowing filament, others use a fluorescent gas. If you consider a light bulb a Java object with an illuminate method, would you need to know which kind of bulb it is?
Write a program that initializes a string with "Mississippi". Then replace all "i" with "ii" and print the length of the resulting string. In that string, replace all "ss" with "s" and print the...
Change the RectangleComponent for the mouse listener program in Section 10.10 so that a new rectangle is added to the component whenever the mouse is clicked. Keep an ArrayList and draw all...
Write Java statements that initialize a string message with a message such as "Hello, World" and then remove punctuation characters from the message, using repeated calls to the replace method.
What is the purpose of a graphics context?
Use data from Appendix D to estimate (a) The normal boiling point of mercury and (b) The vapor pressure of mercury at 25 C. TABLE D.1 Ground-State Electron Configurations Element Configuration Z Z 1...
To help you become familiar with the accounting standards, this case is designed to take you to the FASBs Web site and have you access various publications. Access the FASBs Web site at...
The following extracts are taken from the day books of David Conlon for the three months ended 30 June 2004. Additional information: (i) As at 1 April 2004 there was a debit balance in the VAT...
Why are most large companies like Microsoft, PepsiCo, Caterpillar, and AutoZone organized as corporations?
Why are most large companies like Microsoft, PepsiCo, Caterpillar, and AutoZone organized as corporations?
Describe the difference between an account receivable and an account payable.
1 0 . What type of passing parameter based on the following code fragment? class Student { public static void main ( String [ ] args ) { Student s = new Student ( Ali , 2 1 ) ; printData ( s ) ; }...
Observe changes occurred in value of all registers, which is accessed by operand in Debug Mode, then fill the blanks. (Write all esi value in L1 and ebx value in L2) TITLE Practice08-1 INCLUDE...
ALGORITHM Brute ForceClosest Pair(P) //Finds distance between two closest points in the plane by brute force //Input: A list P of n (n 2) points p(x1, y),..., Pn(xn, yn) //Output: The distance...

Make journal entries to record the following transactions. Explanations are not required. May 31 Recorded cash sales

Question:

Step by Step Answer:

Journal DATE ACCOUNTS POST REF Dr Cr Ma...View the full answer

Financial Accounting

Students also viewed these Accounting questions