Explain the relationship between a purchases journal and a cash payments journal with respect to the extra

Question:

Explain the relationship between a purchases journal and a cash payments journal with respect to the extra column(s) needed to account for taxes.

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

Step by Step Answer:

Related Book For book-img-for-question

College Accounting A Practical Approach

ISBN: 978-0132564441

11th Canadian Edition

Authors: Jeffrey Slater, Brian Zwicker

See More Books

Question Posted: Feb 23, 2016 06:06 AM

See More Questions

Explain the relationship between a tying arrangement and cross-licensing.
Explain the relationship between a companys growth possibilities and its dividend policy.
Black Gold Tea Exploration Co. was established on March 15, 2010, to provide oil-drilling services. Black Gold Tea uses field equipment (rigs and pipe) and field supplies (drill bits and lubricants)...
Assume that the average talk time on an Apple iPhone is 20 hours and that this time follows the exponential probability distribution. What is the probability that a randomly selected iPhone will...
Given that z is a standard normal random variable, compute the following probabilities. a. P(0 z .83) b. P(1.57 z 0) c. P(z > .44) d. P(z .23) e. P(z < 1.20) f. P(z .71)
The Standard Cost of Actual Consumption is 6 , 0 0 0 and Actual Cost of Actual Consumption if 6 , 6 0 0 where as the standard cost of a product if Rs . 5 , 1 0 0 . Calculate Material Price and Usage...
Why should operations be described by verbs?
Sommer Graphics Company was organized on January 1, 2014, by Krystal Sommer. At the end of the first 6 months of operations, the trial balance contained the accounts shown below. Analysis reveals the...
A prominent approach to securely developing applications is to perform proper error handling for most if not all anticipated user inputs. A. List any other FIVE (5) techniques for securely developing...
An engineer is studying bearing failures for two different materials in aircraft gas turbine engines. The following data are failure times (in millions of cycles) for samples of the two material...
In any given reporting period (assume a month) a successful business will always owe some GST or HST. Agree or disagree and explain your answer.
State the differences between a cash receipts journal and a cash payments jour- nal. Assume taxes are included, and give a brief comment on each difference.
A circular metal ring is suspended above a solenoid. The magnetic field due to the solenoid is shown. The current in the solenoid is increasing. (a) What is the direction of the current in the ring?...
If a local density operator is expressed by $ho(r)=\sum_{i} \delta\left(r-r_{i} ight)$, where the sum is over particles and $\delta\left(r-r_{i} ight)$ is the Dirac delta function, what is its...
Has community treatment generally proven successful?
Technology Innovations is planning to purchase one of two chip insertion machines. Due to the pace of technological change in this area, it is realistic to assume that these are one-shot investments....
Does the sexual double standard still exist?
A force field in the plane is described by the relation $F_{x}=F_{o} x^{k} ; F_{y}=F_{o} y^{k}$, with $k$ and $F_{o}$ real constants. For what values of $k$ and $F_{o}$ is the field...
Factor the expressions completely. 12(4 x 2 ) 2x(4 x 2 ) (4 x 2 ) 2 (container design)
Design an experiment to demonstrate that RNA transcripts are synthesized in the nucleus of eukaryotes and are subsequently transported to the cytoplasm.
Given the following, calculate netincome: Dept. 1 Dept. 2 33,000 46,000 21,000 28,000 Net Sales Cost of Goods Sold Operating Expenses Income Tax Expense, 30% rate $16,000
From the following, calculate departmental income before tax. Assume a tax rate of30%. Dept. B $220,000 250,000 127,000 28,500 22,300 22,500 Dept. A Net Sales Cost of Goods Sold Delivery Expense...
Calculate the contribution margin for each department and income before taxes, based on thefollowing: Dept. A 11,000 square feet Dept. B 19,000 square feet $81,000 50,000 Net Sales Cost of Goods Sold...
As a HR manager identify and assess the drivers of high and low employment engagement. Support your arguments with specific examples. Please leave reference.
How does digital technology influence both the issues of credentialism and social/cultural reproduction? Does the technology help students? Does it hurt students? Please defend your answers using...
Using the four-drive motivation theory, as described by McShane, discuss how this experience is impacting Sophia's motivation ?

Explain the relationship between a purchases journal and a cash payments journal with respect to the extra

Question:

Step by Step Answer:

The purchases journal records buying merchandise or other items on accoun...View the full answer

College Accounting A Practical Approach

Students also viewed these Accounting questions