Two competing travel agencies provide similar services, but they record sales using different methods. 1. Eastern Travel
Question:
1. Eastern Travel records sales and sales tax in separate accounts. For the month of January, cash sales total $30,000, and sales tax is $2,400.
2. Western Travel records sales and sales tax together. For the month of January, cash sales total $12,150, including an 8% sales tax.
Required:
Record cash sales and the related sales tax for
(1) Eastern Travel
(2) Western Travel.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
Requirement 1 January 31 Cash 32400 Sales Revenue 30...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Question Posted:
Students also viewed these Accounting questions
-
The cash records and bank statement for the month of May for Diaz Entertainment are shown below. Additional information: a. The difference in the beginning balances in the companys records and the...
-
The cash records and bank statement for the month of July for Glover Incorporated are shown below. Additional information: a. The difference in the beginning balances in the companys records and the...
-
The cash records and bank statement for the month of July for Jim Incorporated are shown below. Additional information: a. The difference in the beginning balances in the companys records and the...
-
Marty owns an auto body repair shop. The business has no real value without him and the building is pretty much a mess after being full of paint fumes for all those years but the land is worth...
-
Refer to the wage data given in Table 9-2 (found on the textbook's Web site). Regression (9.30) gives the results of the regression of the log of wage on the log of education. a. Based on the data of...
-
How would you go about choosing a manager for a new Mexican store if you were Jack or Jennifer? For instance, would you hire someone locally or send someone from one of your existing stores? Why?
-
You are holding a basketball while standing on a bathroom scale. You now throw the basketball directly upwards, and catch it on its way down. Describe how the reading on the scale changes from its...
-
Jumbo Airlines operates out of three main hub airports in the United States. Recently, Econo Airlines began operating a flight from Reno, Nevada, into Jumbos Metropolis hub for $190. Jumbo Airlines...
-
1. Your program asks the user how many bananas they want to buy, and what the price is. This information is then passed to getTotal to calculate the total cost. System.out.println("How many bananas...
-
Kolbec Community College (KCC) has 4,000 full-time students and offers a variety of academic programs in three areas: professional studies, arts, and technology. The professional studies programs...
-
Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $21 million in iTunes gift cards...
-
Top Sound International designs and sells high-end stereo equipment for auto and home use. Engineers notified management in December 2015 of a circuit flaw in an amplifier that poses a potential fire...
-
Carl purchased an apartment complex for $1.1 million on March 17 of year 1. Of the purchase price, $300,000 was attributable to the land the complex sits on. He also installed new furniture into half...
-
People with very good pitch discrimination can very quickly determine what note they are listening to. The note on the musical scale called \(\mathrm{C}_{6}\) (two octaves above middle \(\mathrm{C}\)...
-
Police radar guns work by measuring the change in frequency of a reflected pulse of electromagnetic waves. A gun reads correctly only if a car is moving directly toward or away from the person making...
-
Prove that if \[\operatorname{Pr}\left(y_{i}=1 \mid \mathbf{x}_{i} ight)=\Phi\left(\beta_{0}+\mathbf{x}^{\top} \boldsymbol{\beta} ight), \quad \operatorname{Pr}\left(y_{i}=0 \mid \mathbf{x}_{i}...
-
A standard gold bar stored at Fort Knox, Kentucky, is 7.00 inches long, 3.63 inches wide, and 1.75 inches tall. Gold has a density of \(19,300 \mathrm{~kg} / \mathrm{m}^{3}\). What is the mass of...
-
Research vessels at sea can create images of their surroundings by sending out sound waves and measuring the time until they detect echoes. This image of a shipwreck on the ocean bottom was made from...
-
(a) Design a synchronous counter using J-K FFs that has the following sequence: 000, 010, 101, 110, and repeat. The undesired (unused) states 001, 011, 100, and 111 must always go to 000 on the next...
-
What mass of KBr (in grams) should you use to make 350.0 mL of a 1.30 M KBr solution?
-
In the network depicted in Figure 4. 24, determine the discharge in each pipe. Assume that f = 0. 015. Physical data of the pipeline have been given in Table 4. 17. 3.5 m/s 200 mm 250 m 250 m 250 mm...
-
This information relates to Plunkett Real Estate Agency. Oct. 1 Stockholders invest $30,000 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of...
-
Transaction data for Plunkett Real Estate Agency are presented in E3-7. Instructions Journalize the transactions. Do not provide explanations.
-
The May transactions of StepAside Corporation were as follows. May 4 Paid $700 due for supplies previously purchased on account. 7 Performed advisory services on account for $6,800. 8 Purchased...
-
Determine your monthly payment if you buy a $300,000 house at 6% with 15% down and pay it off over 30 years.
-
Revenue Recognition at a Point in Time versus Revenue Recognition Over Time. The market company won a contract to build a shopping center at a price of $300 million. The following schedule details...
-
Calculate the flat monthly instalment for the car loan amount of $450,000 over two years at 5% compounded semiannualy. You can use either geometric progression or an optimizer (Goal seek or Solver)...
Study smarter with the SolutionInn App