In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. 1.
Question:
In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales.
1. Jackson Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $30,000 and sales taxes $1,650.
2. Pearson Company does not segregate sales and sales taxes. Its register total for April 15 is $20,330, which includes a 7% sales tax.
Instructions
Prepare the entry to record the sales transactions and related taxes for each client.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
JACKSON COMPANY Apr 10 Cash 31650 Sa...View the full answer
Answered By
Mary Boke
As an online tutor with over seven years of experience and a PhD in Education, I have had the opportunity to work with a wide range of students from diverse backgrounds. My experience in education has allowed me to develop a deep understanding of how students learn and the various approaches that can be used to facilitate their learning. I believe in creating a positive and inclusive learning environment that encourages students to ask questions and engage with the material. I work closely with my students to understand their individual learning styles, strengths, and challenges to tailor my approach accordingly. I also place a strong emphasis on building strong relationships with my students, which fosters trust and creates a supportive learning environment. Overall, my goal as an online tutor is to help students achieve their academic goals and develop a lifelong love of learning. I believe that education is a transformative experience that has the power to change lives, and I am committed to helping my students realize their full potential.
4+ Reviews
22+ Question Solved
Related Book For 
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
