Kimmel, Financial Accounting, 8e Help I System Announcements he cash register tape indicates cash sales are $2,000 and sales taxes are $155. What journal entry is needed to record this informati ractice Question 19 000' 155 O Cash Sales Tax Expense 1,155 Sales Cash 000 0000 Sales D Cash 2,155 000 155 Sales Sales Taxes Payable D Cash 2,155 Sales 2,155 ick if you would like to Show Work for this question: Open Show Work
Q: Please help
A: Total cash received = Sales tax + Sales Total cash received = $150 + $3,000 Total cash received =…
Q: Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule…
A: Cash is an asset for the business so any increase in cash will be debited to cash account, similarly…
Q: ter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule…
A: Cash receipts journal in business shows all cash received during the particular period.
Q: SALES TRANSACTIONS AND T ACCOUNTS Using T accounts for Cash, Accounts Receivable, Sales Tax Payable,…
A: ‘’Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: CASH RECEIPTS JOURNAL Page 10. Accounts Sales Receivable, Discounts Sales, or Other Date Account…
A: The cash receipt journal is an uncommon area of the general journal explicitly used to record all…
Q: BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT Cash 265 olo0 Petty Cash Accounts Receivable-Sunshine Café…
A: The shareholders equity details about the capital and drawings of owners. The balance sheet details…
Q: The cash register tape for Oriole Industries reported sales of $7,612.00. Record the journal entry…
A: For (a) part cash amount to be debited is $7566.50 (7,612.00 - 45.50) For (b) part cash amount to be…
Q: Need help with these questions please. Thank you
A: Answer 1 Answer 2
Q: Jones Co has the following transactions: 1 Payment of $400 to J Bloggs for a cash purchase 2…
A: In order to pass a journal entry, three golden rules of accounting needs to be followed a. For real…
Q: Do its General Ledgers DATE PARTICULARS DEBIT CREDIT 04/01/14 Cash in Bank 99,000…
A: General ledger accounts posting is the second step of accounting cycle process. Under this, all…
Q: Which special or general journal should be used in recording the following: Jan. 4 Prepaid Expense…
A: A special journal is any bookkeeping journal in the overall journal that is utilized to record and…
Q: R. Sunland Co. uses special journals and a general journal. The following transactions occurred…
A: A cash receipts journal is a financial record showing the cash inflow in the business on account of…
Q: Saved Help Sa The fotowing account balances come from the records of Ourso Company. Accounts…
A: Cash collected from accounts receivables refers to cash to be collected from debtors when credit…
Q: the cash receipts journal. Total and rule the sales journal. Ignore sales taxes. Use the journal…
A: T account: T account is a T-shaped appearance of the journal entries related to a specific account…
Q: Question 4 Record the following transactions in the cash disbursements journal: Mar. 1 Paid…
A: Cash disbursement journal is prepared as follows:
Q: Li Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal,…
A: The cash receipts journal deals with all money inflows of a business association. At the end of the…
Q: The information below from (Ali) Company. Jan. 3. The owner withdrew S$7138 cash for personal use.…
A: Journal - the journal is the record of all the transactions. journalizing the process of recording…
Q: Smiling Sam's Warehouse made the journal entry shown in Figure 3.03 P in its Cash Payments Journal.…
A: Cash payment journal is given that means all payment are in cash.
Q: 6. Your company paid rent of $1,000 for the month with check number 1245. Which journal would the…
A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…
Q: Feb 2 - Received cash on account from customer Andy Griffith, $390.50, no discount. Issued receipt…
A: The special journal includes cash receipts journal, cash payments journal, purchases journal and…
Q: Brief Exercise 7-06 The cash register tape for Larkspur Industries reported sales of…
A: Prepare the journal entries:
Q: Maestro Enterprises deposits the cash received during each day at the end of the day. Maestro…
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Cajegas Trucking Services Trial Balance June 30, 208 Debit Credit Cash in Bank Petty Cash Fund…
A:
Q: Catherine’s Cookies has a beginning balance in the Accounts Payable control total account of $8,200.…
A: Accounts Payable: Accounts Payable is an account found in the balance sheet of the organization that…
Q: Prepare a journal entry to record these cash sales.
A: Journal entry is used to record the transaction in books of accounts of the entity.
Q: Post all the entries in the general journal to the general ledger. PAGE 1 GENERAL JOURNAL DATE…
A: Generel Ledger Account: Cash Account No. 110 DATE ITEM POST REF. DEBIT CREDIT BALANCE…
Q: Scharf Company is a retailer located in a state without sales tax. The following data were given to…
A: Journal: Journal is the book of original entry. Journal consists of the day today financial…
Q: dSh to öwner for personal use, $1,000.00. C9. 28. Received cash from sales, $220.00. T28.…
A: Journal Entry The purpose of preparing the journal entry to enter the required transaction into…
Q: The cash register tape for Oriole Industries reported sales of $27,662.00. Record the journal entry…
A: Introduction: Journals: Recording of business transactions in a chronological order. First step in…
Q: A cash register tape shows cash sales of $8200 and sales taxes of $410. The journal entry to record…
A: Journal entries refer to the recording of transactions in an appropriate way. With the help of…
Q: R.Santiago invested $40,000 cash in the business 2 Sold merchandise to Lawrie Cc. for $61300 cash.…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Most computerized accounting systems use electronic forms to record transaction information, such as…
A: Computerized accounting system: This is the system that is used by the business to record the…
Q: Li Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal and…
A: Cash Receipts Journal: It refers to a journal in which all the cash inflows pertaining to a business…
Q: Date Cash Jasmin, Capital Repair Equipment Accounts Payable Shop Supplies Cash Accounts payable Cash…
A: T- Accounts - T-Accounts is the summary of individual ledger accounts. All the journal entries are…
Q: The Kingdom Company uses a sales journal and a cash receipts jourmal to record transactions with its…
A: Journal entry - It refers to the process where the business transactions are recorded in the books…
Q: Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule…
A: Journal entry is the process of recording the business transactions in the books of accounts for the…
Q: Scharf Company is a retailer located in a state without sales tax. The following data were given to…
A: Journal entry is a record maintained in the books of accounts for the financial transaction made. It…
Q: R. Ivanhoe Co. uses special journals and a general journal. The following transactions occurred…
A: Transaction on May 16 does not involve cash so it will not be recorded in the Cash Journal.
Q: Entry for Cash Sales; Cash Short The actual cash received from cash sales was $35,699, and the…
A: The amount received from cash sales is recorded by debiting the cash account and crediting the sales…
Q: Feb 2 - Received cash on account from customer Andy Griffith, $390.50, no discount. Issued receipt…
A: Cash receipt journal: It is an account that records all cash-related transactions of the year. It…
Q: Feb 2 - Received cash on account from customer Andy Griffith, $390.50, no discount. Issued receipt…
A: The cash receipts journal is a special journal prepared to record cash transactions incurred during…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- History Bookmarks Window AOL Mail (... eBook Q U Help Mail - Fait... Portal hos.. b. What is the amount recorded for the day's sales? How should the difference be recorded? of v2.cengagenow.com Chapter 5... Check My Work 10 more Check My Work uses remaining. should be recorded as Recording Cash Sales; Cash Over/Short The actual cash received from the day's cash sales was $14,346, and the amount indicated by the cash register total was $14,300. a. What is the amount deposited in the bank for the day's sales? d. If a cashier is consistently over or short, what action should be taken? C Cengage... MacBook Pro 8 JC 4+1 W Activity I... My Drive.. <₁ Save and Exit SubCash Receipt # 95 Dated April 12, 2022 From WiseGuys, cheque #189 for $1 800 in payment of invoice #285. Sage 50 Journal Entry: 04-12-2022 J9 95, Wise Guys 1080 4100 1200 Bank: CAD Chequing Sales Discounts Accounts Receivable 1,800.00 101.70 1,901.70 Compare the transaction information and the transaction as captured in Sage and state, what was done wrong and how would you correct it?(To record cash purchase of premiums) Cash Sales Revenue (To record cash sales) Cash Premium Expense Inventory of Premiums (To record redemption of codes) (To adjust unearned revenue) Save for Later 3840000 000 0 Attempts: 1 of 3 used Submit Answer E
- In reviewing the Accounts Receivable, the Net Cash Realizable Value is __ before a write off of $1500. What is the Net Cash Realizable Value after the write off?a. $16,000b. $1500c. $17300d. $14500Cash Receipt #94 Dated April 4, 2022 From Jokers Et Al., cheque #2213 for $950 in full payment of invoice # 287, taking into account 2% sales discount of $50 for early payment. 04-15-2022 J2 1080 1200 94, Jokers Et Al. Bank: Chequing Accounts Receivable 1,000.00 1,000.00 Compare the transaction information and the transaction as captured in Sage and state, what was done wrong and how would you correct it?Smiling Sam's Warehouse made the journal entry shown in Figure 3.03 P in its Cash Payments Journal. What is the correct posting of this entry to the general ledger? CASH PAYMENTS JOURNAL Page 22 GENERAL POST ACCOUNTS PAYABLE DEBIT PURCHASES ACCOUNT TITLE CK, NO. DATE REF CASH DISCOUNT CREDIT DEBIT CREDIT CREDIT Apr. 4 Purchases 438 4001 978.00 978.00 Figure 3.03 P O Debit Cash, $978; credit Accounts Payable, $978 O Debit Purchases, $978; credit Accounts Payable $978 O Debit Purchases, $978; credit Cash, $978 O Debit Cash, $978; credit Purchases, $978 No answer text provided.
- What is the journal entry to replenish the petty cash fund if expenses were Auto Expenses $75, Office Expenses $25, Postage $11. and cash on hand is $389. The Petty Cash fund started with $500. Edit View Insert Format Tools Table |BIUAv eu Ti v|: 12pt v Paragraph v hp 16 fa 19 ho 144 IOI 4 00Print Item From the data below for Wong Company, prepare the closing entries for the year ended December 31. Cash dividends $47,000 Sales 982,600 Sales returns and allowances 3,960 Interest revenue 10,521 Factory overhead (debit) 210,620 Factory overhead (credit) 210,620 Cost of goods sold 726,820 Wages expense 130,745 Supplies expense 9,900 Depreciation expense-office equipment 6,900 Utilities expense 5,840 Bad debt expense 1,680 Advertising expense 11,120 Interest expense 9,860 Income tax expense 32,050 If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDITgleusercontent.com/viewer/secure/pdf/ki7h0e5ernovil8j8jhia898nvne1h7r/0bntlihe Tutorial 10 Submission date: 18 January 2021 before 12.00pm 1. The following are extract from the cash book and bank statement of Fifi Enterprise. Cash Book (Bank Account only) 2020 RM 2020 Dec RM Dec 1 Balance b/d 3,419 8 Basri 462 7 Farah 101 15 Farid 21 22 Ghaz 44 28 Tengku 209 31 Weiwei 319 31 Siti 246 31 Balance c/d 3,437 4,129 4,129 Bank Statement Debit Date Items Credit Balance Dec 1 Balance b/d 3,419 3,520 3,058 3,037 3,081 3,174 7 Cheque 101 11 Basri 462 20 Farid 21 22 Cheque 31 Credit Transfer: Tina 31 Bank Charges 44 93 47 3,127 Required: a) Prepare the updated cashbook. b) Prepare the bank reconciliation statement as at 31 December 2020.
- Describe the transaction recorded. Cash 593.60 Sales Tax Payable 44.80 Sales 560.00 Credit CardExpense 11.20 (Select all your answers.) Sold merchandise for cash, plus sales tax. Purchased goods plus freight. Company deposited cash from the sale. Customer paid by bank credit card. Discount charged by bank to the seller. Interest credited by the bank.Accounting QuestionOn April 1, Splish Brothers Inc. began operations. The following transactions were completed during the month. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. + Issued common stock for $21,100 cash. Obtained a bank loan for $6,200 by issuing a note payable. Paid $9,700 cash to buy equipment. Paid $1,100 cash for April office rent. Paid $1,300 for supplies. Purchased $530 of advertising in the Daily Herald, on account. Performed services for $15,800: cash of $1,760 was received from customers, and the balance of $14,040 was billed to customers on account. Paid $350 cash dividend to stockholders. Paid the utility bill for the month, $1,760. Paid Daily Herald the amount due in transaction (6). Paid $40 of interest on the bank loan obtained in transaction (2). Paid employees' salaries, $5,630. Received $10,560 cash from customers billed in transaction (7). Paid income tax, $1,320. Account Titles and Explanation Cash Common Stock Cash Notes Payable Equipment Cash Rent Expense Debit 21,100…