In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales: (a)

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In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales:

(a) Sue Jackson Company rings up sales and sales taxes separately on its cash register. On April 10, the register totals are sales $30,000 and sales taxes $2,000.

(b) Person Company does not segregate sales and sales taxes. Its register total for April 15 is $28,800, which includes an 8 percent sales tax.

Prepare the entry to record the sales transactions and related taxes for each client.

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Hospitality Financial Accounting

ISBN: 978-0470083604

2nd Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.

Question Posted: Feb 06, 2013 06:53 AM

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In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales: (a)

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a b SUE JACKSON COMPANY Apr 10 Cash ...View the full answer

Hospitality Financial Accounting

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