Question: How do I start to prepare journal entry for this question? The balances of certain accounts of Brittany Corporation on April 30, 2019, were as

How do I start to prepare journal entry for this question?

The balances of certain accounts of Brittany Corporation on April 30, 2019, were as follows:

Sales$220,000

Sales Returns and Allowances$2,000

The firm's net sales are subject to a 6 percent sales tax. How to prepare the general journal entry to record payment of the sales tax payable on April 30, 2019?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

How do I start to prepare journal entry for this question? The balances of certain accounts of Brittany Corporation on April 30, 2019, were as follows: Sales$220,000 Sales Returns and...

Hello m friend We worked together before. Please help me in this quiz ! I will include a study materials to help you answer it Thanks in advance ACCT1040 - Quiz #4 (Spring 2017) - Kathy Faber Version...

very long question AP-14A LO Gherry Shoe Store had the following account balances as at April 30, 2019. Gherry's Shoe Store Trial Balance April 30, 2019 Account Title DR CR Cash $8,660 Accounts...

Exercise 7.8 (Algo) Computing the sales tax due and recording its payment. LO 7-9 The balances of certain accounts of Brittany Corporation on April 30, 20X1, were as follows: pints Sales $218, 060...

Book The balances of certain accounts of Brittany Corporation on April 30, 20X1, were as follows: Sales returns and allowances The firm's net sales are subject to an 6 percent sales tax. Prepare the...

The balances of certain accounts of Brittany Corporation on April 30, 2019, were as follows: Sales Sales Returns and Allovances $216,000 2,600 4) The firm's net sales are subject to a 6 percent sales...

Use Apple's financial statements in Appendix A to answer the following 1. Identify the total amount of cash and cash equivalents for fiscal years ended (a) September 28, 2019, and (b) September 29,...

Need help with these two questions The balances of certain accounts of Brittany Corporation on April 30, 20X1, were as follows: The firm's net sales are subject to an 6 percent sales tax. Prepare the...

just have this information QUESTION 1 (10 marks) You are the loan officer of a multinational bank. A small company, Samson Company, would like to apply for a loan. In support of the loan application,...

i want clear answer Computing the sales tax due and recording its payment. The balances of certain accounts of Brittany Corporation on April 30, 2019, were as follows: Sales $220,000 Sales Returns...

Assume that Medco, Inc. had the following Nonvalue-Added Costs reported in Year 1: Non-Value-Added Costs Activity Purchasing Molding Inspecting Grinding Total $121,000 68,000 125,000 43,000 $357,000...

8. The decreasing order of basicity of following aniline derivatives is PhNH,,PhN_Ph, PhN_Ph (X) (a) Z>Y>X (b) X>Y>Z Ph (Z) (c) Y>Z>X (d) Z>X>Y

Consider the differential equation y ' ' = ex 2 2 + xy ' where y is considered to be a function of x . In this exercise, you will determine whether or not y = ex 2 2 + c is a solution to the...

Assume that Corporation X has 20,000 shares of $10 par value cumulative 6% preferred stock and 5,000 shares of common stock outstanding. No dividends were paid in 2009 and 2010. In 2011, the board of...

Yoko purchased 10% of Toyger Corporation's stock six years ago for $70,000. In a transaction qualifying asType C" reorganization, Yoko received $50,000 cash and 8% of Angora Corporation's stock...

Chemistry A chemist synthesizes a copolymer containing 90 mole % isoprene and 10 mole % methyl methacrylate. In a systematic manner, describe the polymer chain microstructures that are theoretically...

What would be the company cost of capital for a firm with a 65/35 debt/equity split, 8% cost of debt, 15% cost of equity, and a 35% tax rate?

Jackson Company recorded the following cash transactions for the year: Paid $45,000 for salaries Paid $20,000 to purchase office equipment Paid $5,000 for utilities Paid $2,000 in dividends Collected...

Among a group of 5 8 programmers, who know either Java or Python or both, 1 5 only know Java and 1 3 only know Python. What is the probability of randomly choosing a programmer who knows both...

5. How can a sender (utterer) directly influence the interpreter (receiver)?

10. Find a news article in a daily newspaper, and answer the following questions: (a) Does the information in the article support your views and attitudes or does it conflict with them? (b) Does the...

2. Give an example where information that is emotionally interesting, specific and close in time and space, can be used to capture someones interest.