Crane Auto Supply does not segregate sales and sales taxes at the time of sale. The registered

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

Question:

Crane Auto Supply does not segregate sales and sales taxes at the time of sale. The registered total for March 16 is 14,700. All sales are subject to a 5% sales tax.

Compute sales taxes payable, and make the entry to record sales taxes payable and sales.

Related Book For answer-question

Accounting Principles

ISBN: 978-0470534793

10th Edition

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

See More Books

Posted Date: Feb 17, 2022 09:01 AM

See More Questions

Leister Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $15,540. All sales are subject to a 5% sales tax. Compute sales taxes payable, and...
Savango Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $15,540. All sales are subject to a 5% sales tax. Compute sales taxes payable, and...
Goodwin Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $13,440. All sales are subject to a 5% sales tax. Compute sales taxes payable, and...
Write the complete APT part program to profile mill the outside edges of the part. The part is 15 mm thick. Tooling = 30 mm diameter end mill with four teeth, cutting speed = 150 mm/min, and feed =...
A breakfast cereal comes in several versions. It can be purchased in a regular size or a larger family size. As well, it can be purchased in regular flavour or in a honey-nut version. Sales data are...
Suppose your weight is 52.55 kilograms. A scale at a health clinic that gives weight measurements to the nearest half kilogram gives your weight as 53 kilograms. A digital scale at the gym that gives...
Define business roles and give three examples for a bank.
Why are convertible bonds less risky than stock but usually more risky than nonconvertible bonds?
The exchange rate between euros and dollars is currently 0.83 euros per dollar. Inflation is expected to be 1% in Europe and 2% in the US. If relative purchasing power parity holds, what is the...
The five principles of financial reporting (ACCURACY, CONSISTENCY, APPEARANCE,EFFICIENCY, and USABILITY, with occasional overlap between them) are discussed in detailbelow. Your assignment is to edit...
On January 1, 2016, Knorr Corporation issued $800,000 of 6%, 5-year bonds dated January 1, 2016. The bonds pay interest annually on December 31. The bonds were issued to yield 7%. Bond issue costs...
Question 8 (1 point) What is the value of EO? 01 01 A3 A A A Lout 3 & E, E, qut TIT Question 9 (1 point) 1001 1/1/ B Bibi Bo Saved A
Common Distributions Normal X N(, 0) 1 f(x)=- exp (x-) 20 27 E.g. the height of the entire population Please describe a way to generate 30 data points or realizations of the Random Variable (R.V.)....
Provide references to your work fine IFFF) Question Read the passage and answer the questions that follow: A ransomware gang calling itself "Snatch" -after the iconic Guy Ritchie film released in...
1. Create a program that will go through a NULL-terminated string of ASCII characters and convert any uppercase letters to lowercase letters. (The ASCII NULL character is Ox00.) Any changes should...
10) What is the time complexity of the below program? justify your answer. n=int(input("Enter a value: ")) for i in range(1, n): for j in range(i,n,i): print("hello") Put your solution here:...
Identify two VOLUNTARY benefits that would attract and retain employees. Identify the value of these benefits and how employees perceive them. Respond by providing academic data and observations.
On October 1, 2021, Adoll Company acquired 2,600 shares of its $1 par value stock for $38 per share and held these shares in treasury. On March 1, 2023, Adoll resold all the treasury shares for $34...
Law Management Services began business on January 1, 2012, with a capital investment of $120,000. The company manages condominiums for owners (Service Revenue) and rents space in its own office...
(a) What is the cost of an investment in bonds? (b) When is interest on bonds recorded?
Mick Ferguson Company incurs the following expenditures in purchasing a truck: cash price $30,000, accident insurance $2,000, sales taxes $1,500, motor vehicle license $100, and painting and...
At what height above the surface of Pluto is the acceleration due to gravity half its surface value?
How far above Farth's surface must a $10,000-\mathrm{kg}$ boulder be moved to increase the mass of the Earthboulder system by $2.50 \mathrm{mg}$ ? Assume the same ratio of energy change to mass...
Show that for small displacements the restoring force exerted on part 2 of the displaced string in Figure 15.14 is linearly proportional to the displacement of that part from its equilibrium...

Crane Auto Supply does not segregate sales and sales taxes at the time of sale. The registered

Question:

Expert Answer:

Giren Sale amount 14700 foles tox 5 Using the formu... View the full answer

Accounting Principles

Students also viewed these accounting questions