Required information Use the following information for the Exercises below. (Algo) (The following information applies to the questions displayed below) 1. On July 15, Piper Company sold $11,000 of merchandise (costing $5.500) for cash The sales tax rate is 5% On August 1, Pper sent the sales tax collected om the sale to the government 2. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $330 cash On November 20 the Bucks played the first game of the six-game pack this represented one sath of the advance ticket sale Exercise 9-3 (Algo) Financial statement impact of current liability transactions LO C2 Analyze each separate transaction by showing its effects on the accounting equation-spechcely ourely the accounts and aures including or) for each transaction Note: Enter all amounts as positive values Date July 15 24 16 November 3 Assets .
Required information Use the following information for the Exercises below. (Algo) (The following information applies to the questions displayed below) 1. On July 15, Piper Company sold $11,000 of merchandise (costing $5.500) for cash The sales tax rate is 5% On August 1, Pper sent the sales tax collected om the sale to the government 2. On November 3, the Milwaukee Bucks sold a six-game pack of advance tickets for $330 cash On November 20 the Bucks played the first game of the six-game pack this represented one sath of the advance ticket sale Exercise 9-3 (Algo) Financial statement impact of current liability transactions LO C2 Analyze each separate transaction by showing its effects on the accounting equation-spechcely ourely the accounts and aures including or) for each transaction Note: Enter all amounts as positive values Date July 15 24 16 November 3 Assets .
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 7MCQ
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