2 Sales and sales tax separately into the cash register. Sales are $45,000 and sales tax...

 

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2 Sales and sales tax separately into the cash register. Sales are $45,000 and sales tax is $2,700. Sales and sales tax are not separated in the cash register. Register total is $36,750 including 5% sales tax. Required: Record the journal entries for each of the independent situations. Date Account 1 2 Debit Problem 3 The following information is contained in the financial statements of a company, (in millions). Current assets $ 7,450 Accounts receivable $ Total assets Interest expense 23,093 7,714 Current liabilities Income tax expense Total liabilities 18,187 Net income Cash 424 Required: Compute (a) Working capital, and (b) Current ratio 909 502 532 70 Credit 2 Sales and sales tax separately into the cash register. Sales are $45,000 and sales tax is $2,700. Sales and sales tax are not separated in the cash register. Register total is $36,750 including 5% sales tax. Required: Record the journal entries for each of the independent situations. Date Account 1 2 Debit Problem 3 The following information is contained in the financial statements of a company, (in millions). Current assets $ 7,450 Accounts receivable $ Total assets Interest expense 23,093 7,714 Current liabilities Income tax expense Total liabilities 18,187 Net income Cash 424 Required: Compute (a) Working capital, and (b) Current ratio 909 502 532 70 Credit

Answer rating: 100% (QA)

The following table shows the Journal entries Date Account Debit Credit Sales 4500 ... View the full answer