Business, 17.04.2020 01:03 sha712

Exercise 10-05 In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Blossom Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $28,000 and sales taxes $1,400. 2. Oriole Company does not segregate sales and sales taxes. Its register total for April 15 is $20,140, which includes a 6% sales tax. Prepare the entry to record the sales transactions and related taxes for Blossom Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 20:30

Which of the following best describes a fractional reserve banking system? a. a banking system in which a large portion of the bank's assets are digital money rather than bills and coins. b. a banking system in which banks keep a portion of deposits on hand to satisfy their customer's demands for withdrawals. c. a banking system in which banks have only partial control over the interest rates they charge on loans. d. a banking system in which net worth is calculated by subtracting a fraction of liabilities from assets. 2b2t

Answers: 3

Answer

Business, 22.06.2019 20:30

You are in the market for a new refrigerator for your company’s lounge, and you have narrowed the search down to two models. the energy efficient model sells for $700 and will save you $45 at the end of each of the next five years in electricity costs. the standard model has features similar to the energy efficient model but provides no future saving in electricity costs. it is priced at only $500. assuming your opportunity cost of funds is 6 percent, which refrigerator should you purchase

Answers: 3

Answer

Business, 22.06.2019 20:50

Happy foods and general grains both produce similar puffed rice breakfast cereals. for both companies, thecost of producing a box of cereal is 45 cents, and it is not possible for either company to lower their productioncosts any further. how can one company achieve a competitive advantage over the other?

Answers: 1

Answer

Business, 22.06.2019 22:50

Which of these makes a student loan different from other types of loans

Answers: 1

Answer

You know the right answer?

Exercise 10-05 In performing accounting services for small businesses, you encounter the following s...

Questions