The Travis Company has cash register totals of $2,100. If the company doesn't segregate sales from...
The Travis Company has cash register totals of $2,100. If the company doesn't segregate sales from sales taxes, and the sales tax rate is 5%, then the amount to be credited to the account Sales is:
Homework Answers
Amount to be credited to the account sales is
= 2100/(100+5)%
= 2100/105%
= 2000
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The Travis Company has cash register totals of $2,100. If the
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Compute sales taxes payable.
Sales tax payable
$
Make the entry to record sales taxes payable
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account titles are automatically indented when amount is entered.
Do not indent manually.)
Date
Account Titles and Explanation
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Credit
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Bluestem Supply does not does not segregate sales and sales
taxes at the time of sale. The register total for March 16 is
$10,388. All sales are subject to a 6% sales tax.
Compute sales taxes payable.
Sales tax payable
$
Make the entry to record sales taxes payable
and sales. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Mar. 16
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