For each invoice subtotal, calculate the sales tax and invoice total. Sales Tax Sales Tax Invoice...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
For each invoice subtotal, calculate the sales tax and invoice total. Sales Tax Sales Tax Invoice Subtotal Amount $ $ 58.00 399.00 $17,538.00 $ $ $399.00 $17,538.00 14.83 $ GA 14.83 58.00 Sales Invoice PART B Calculating Sales Discounts Calculate the sales discount for each of the following items. Amount $289.44 $1,685.89 $9,652.50 $ 47.70 $ 535.00 $1,470.00 $1,053.95 $ 844.00 Column No. 1234567 6% 6% 6% 6% 7% 7% 7% 7% 2 3 Sales Discount Rate 1% 2% 2% 1% 2% 2% 2% 2% PART C Proving a Cash Receipts Journal Prove the equality of the debits and credits for a cash receipts journal. Sales Discount Amount Invoice Total Column Title General Debit. General Credit Accounts Receivable Credit... Sales Credit .... Sales Tax Payable Credit. Sales Discount Debit...... Cash Debit..... Debit Totals $ 177.50 38,793.80 Credit Totals $ 9,623.00 27,615.50 1,732.80 For each invoice subtotal, calculate the sales tax and invoice total. Sales Tax Sales Tax Invoice Subtotal Amount $ $ 58.00 399.00 $17,538.00 $ $ $399.00 $17,538.00 14.83 $ GA 14.83 58.00 Sales Invoice PART B Calculating Sales Discounts Calculate the sales discount for each of the following items. Amount $289.44 $1,685.89 $9,652.50 $ 47.70 $ 535.00 $1,470.00 $1,053.95 $ 844.00 Column No. 1234567 6% 6% 6% 6% 7% 7% 7% 7% 2 3 Sales Discount Rate 1% 2% 2% 1% 2% 2% 2% 2% PART C Proving a Cash Receipts Journal Prove the equality of the debits and credits for a cash receipts journal. Sales Discount Amount Invoice Total Column Title General Debit. General Credit Accounts Receivable Credit... Sales Credit .... Sales Tax Payable Credit. Sales Discount Debit...... Cash Debit..... Debit Totals $ 177.50 38,793.80 Credit Totals $ 9,623.00 27,615.50 1,732.80
Expert Answer:
Answer rating: 100% (QA)
Part A Invoice Subtotal 58 Sales tax in 6 Sales amount 58 6100 348 Invoice total 58 348 6148 Invoice Subtotal 399 Sales tax in 6 Sales amount 399 6100 ... View the full answer
Related Book For
Microsoft Visual C# An Introduction to Object-Oriented Programming
ISBN: 978-1337102100
7th edition
Authors: Joyce Farrell
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Oxford Computer Security uses the perpetual inventory system and makes all credit Trial balance, total debits $51,000sales on terms of 2/10, n/30. Oxford completed the following transactions during...
-
Tulsa Computer Security uses the perpetual inventory system and makes all credit sales on terms of n/30. Tulsa completed the following transactions during May: May 2 Issued invoice no. 913 for sale...
-
Estimate the errors involved in Exercise 63, parts (a) and (b). How large should be in each case to guarantee an error of less than 0.00001?
-
General Corporation has the following investments in equity securities at December 31, 2011 (there are no existing balances in the market adjustment account): Required: 1. Prepare any adjusting...
-
A woman and her two children are waiting to receive their welfare check. They came to your state from another to escape an abusive husband and father. The woman is frail and appears sick. They have...
-
Is an EU citizen who does not live in the EU protected under the General Data Protection Rules (GDPR)?
-
Condensed balance sheet and income statement data for Landwehr Corporation appear below. Additional information: 1. The market price of Landwehrs common stock was $4.00, $5.00, and $8.00 for 2013,...
-
5. (a) In class we saw how to use an interval tree to store a set of intervals. Our interval tree had a search operation allowing us to search for an interval overlapping a given interval. In this...
-
The date is January 10, 2023, and Maryton Hotels CFO George Smith is looking with dismay at his companys financial performance during 2022. Already facing stiff competition from other hotel chains as...
-
ACCT 225-Managerial Accounting Case Assignment 2 Part 4-B: Make or Buy Analysis (7 marks) Following your analysis of the Boots product line for the Alberta and Saskatchewan regions, the owners of the...
-
Consider a packed bed of spheres, each of diameter \(D=2 \mathrm{~mm}\), at an initial temperature of \(T_{i}=90^{\circ} \mathrm{C}\). Cold water at \(T_{w}=5^{\circ} \mathrm{C}\) is poured onto the...
-
How is frequency response determined for a machine with a rotating unbalance?
-
Explain the concept of frequency response.
-
A long, circular aluminum rod is attached at one end to a heated wall and transfers heat by convection to a cold fluid. (a) If the diameter of the rod is doubled, by how much would the rate of heat...
-
Determine the percentage increase in heat transfer associated with attaching aluminum fins of rectangular profile to a plane wall. The fins are \(45 \mathrm{~mm}\) long, \(0.5 \mathrm{~mm}\) thick,...
-
The books of Gupta, a tea merchant, showed the following balances as of March 31, 2019: Initial stock of tea 1,00,000 Commission to sales manager 32,400 Purchases: Tea 4,00,000 Furniture and...
-
Reichenbach Co., organized in 2018, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2018 and 2019. Instructions...
-
Which of the following is a valid comment in C++? a. **This is a comment b. @/This is a comment c. /This is a comment d. None of the above
-
Which of the following concatenates the contents of a string variable named city, a comma, a space, and the contents of a string variable named state and then assigns the result to a string variable...
-
Use the code shown in Figure 6-32 to answer > number; cout" style="" class="fr-fic fr-dib"> If the user enters the number 1000, what value will be in the number variable after the selection structure...
-
An analysis by Professor Peter M Rothwell and his colleagues (Nuffield Department of Clinical Neuroscience, University of Oxford, UK) published in 2012 in the medical journal The Lancet...
-
Suppose a student is interested in knowing the preferred holiday destinations of the faculty members in their university. They are affiliated to the college of business and interview a few of the...
-
The following table shows the result of the 2018 General Elections in Pakistan, along with the vote share predicted by several organizations in the days before the elections. The sample sizes were...
Study smarter with the SolutionInn App