Appliances Unlimited began operations November 1, 20X1. The firm sells its merchandise for cash and on open
Question:
Appliances Unlimited began operations November 1, 20X1. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During November, Appliances Unlimited engaged in the following transactions:
INSTRUCTIONS
Record the transactions in a general journal. Use 1 as the journal page number.
Analyze:
What is the total amount due from Dave Hall for the November 29 sale?
Transcribed Image Text:
DATE 20X1 Nov. 1 2 7 12 15 16 17 18 20 TRANSACTIONS Sold a dishwasher on credit to Anna Chang; issued Sales Slip 101 for $1,100 plus sales tax of $66. Sold stereo equipment on credit to Janie O'Hara; issued Sales Slip 102 for $700 plus sales tax of $42. Sold a trash compactor on credit to Dave Hall; issued Sales Slip 103 for $550 plus sales tax of $33. Accepted return of defective stereo equipment from Janie O'Hara; issued Credit Memorandum 101 for $80 plus sales tax of $4.80. The stereo equipment was sold on November 2. Recorded cash sales for the period from November 1 to November 15 of $10,160 plus sales tax of $609.60. Sold a microwave oven on credit to Maria Santoro; issued Sales Slip 104 for $250 plus sales tax of $15. Sold a home entertainment system on credit to Bob Newell; issued Sales Slip 105 for $1,020 plus sales tax of $61.20. Received $466 from Anna Chang on account. Received payment in full from Janie O'Hara for the sale of November 2, less the return of November 12.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
answers Date Particulars Debit Credit Mar1 Account Receivable 63600 Sales 60000 Sales Tax Payable 36...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Business questions
-
Appliances for Less began operations November 1, 2019. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During November, Appliances for Less...
-
The Appliance Discounter began operations November l, 2013. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During November, The Appliance...
-
The Appliance Store began operations March 1, 2016. The firm sells its merchandise for cash and on open account. Sales are subject to a 6 percent sales tax. During March, The Appliance Store engaged...
-
Q3: Prove: For any sets A and B, Ax B = B A ?
-
Visit a fast-food operation, a supermarket, a hospital, or another service and ask a manager about staff scheduling, covering these questions: a. Who does it? b. How frequently is it done? c. Is any...
-
The cable shown is subjected to the uniform load w 0 . Determine the ratio between the rise h and the span L that will result in using the minimum amount of material for the cable. Wo
-
The U.S. total land area is almost \(9,307,800 \mathrm{~km}^{2}\). Thirty percent of the land is forestland. How much above-ground biomass is available in the U.S. forestland assuming a \(15,240...
-
Charlie Brown, controller for the Kelly Corporation, is preparing the companys income statement at year-end. He notes that the company lost a considerable sum on the sale of some equipment it had...
-
Flounder Company reported the following information for 2019: October November December Budgeted sales $300,000 $334,000 $378,000 Budgeted purchases $120,000 $127,000 $144,500 All sales are on...
-
January 1, 2019, Poise Co. bought 70% ownership of Serenity Co. amounting to Rp. 245,000,000. Serenity Co.'s Equity Structure at the time of the merger, it consisted of Capital Stock of Rp....
-
The following transactions took place at Animal World Amusement Park during May. Animal World Amusement Park must charge 8 percent sales tax on all sales. DATE 20X1 May 1 15 31 TRANSACTIONS Sold...
-
Precision Electronics began operations September 1, 20X1. The firm sells its merchandise for cash and on open account. Sales are subject to a 7 percent sales tax. The terms for all sales on credit...
-
Chi Knitwear Ltd is an old-fashioned firm with a handwritten set of books. A trial balance is extracted at the end of each month, and an income statement and statement of financial position are...
-
Which of the following is not an element of an insurable risk? A. A sufficiently large number of homogeneous exposure units. B. Catastrophic loss. C. A definite loss. D. A fortuitous loss.
-
Gene MacArthur, a wealthy 55-year-old widower, wants to reduce his taxable estate, supplement his current income, provide an inheritance for his children, and benefit his alma mater. He doesnt want...
-
In which does a donor transfer cash, marketable securities, or other assets to a qualified charitable organization in exchange for a commitment by the organization to pay the donor a specified amount...
-
Which of the following are considered moral hazards? I. Driving while intoxicated. II. Failing to lock your front door, which results in the theft of a computer and other personal effects. III....
-
Which of the following is an element of insurable risk? A. The loss must be unexpected or accidental. B. The loss must be catastrophic. C. The loss produced by the risk cannot be measurable. D. The...
-
The centers of two spheres of radius ( are 2b units apart with b ( (. Find the volume of their intersection in terms of d = a - b.
-
Akramin just graduated with a Master of Engineering in Manufacturing Engineering and landed a new job in Melaka with a starting salary of RM 4,000 per month. There are a number of things that he...
-
Rossi Wholesalers made sales using the following list prices and trade discounts. What amount will be recorded for each sale in the sales journal? 1. List price of $950 and trade discount of 10...
-
In Woodinville Power Corporations factory, fixed indirect labor costs are $6,300 per month. Variable indirect labor costs are $1.40 per direct labor hour. The budget for the month of May 20X1 calls...
-
Alpha Companys records show the following data for the four quarters of 20X1: Compute the fixed and variable elements of utilities cost, using the high-low point method. Quarter First Second Third...
-
For each of the following: identify all critical numbers and use these to determine all region(s) where the function is increasing as well as all region(s) where the function is decreasing. Then...
-
Determine the most suitable data structure for the above graph and show it adjacency representation. (5 markah/marks)
-
The table gives the outdoor temperatures observed by a science student on a spring day. Draw a graph of the data, and find the average rate of change of temperature between the following times: a)...
Study smarter with the SolutionInn App