Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government. To prepare: The journal entry to record sales & sales tax.

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Answer 1

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Chapter 9, Problem 2QS

1

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

2

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.

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Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax. (1) Record the entry for the $6,000 sale and its sales tax. (2) Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15.

Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is $11,200). Dextra collects 7% sales tax. Record the entry for the $16,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15. View transaction list Journal entry worksheet 1 2 3 Record the cash sales and 7% sales tax. Date September 30 Note: Enter debits before credits. General Journal Debit Credit >

A retailer sells merchandise for $500 cash on June 30 (cost of merchandise is $300). The retailer collects 7% sales tax. Record the entry for the $500 sale and its applicable sales tax. Also record the entry that shows the taxes collected being sent to the government on July 15.

Answer 2

Question

Chapter 9, Problem 2QS

1

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

2

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.

Expert Solution & Answer

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Answer 3

Question

Chapter 9, Problem 2QS

1

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

2

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.

Expert Solution & Answer

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Answer 4

Question

Chapter 9, Problem 2QS

1

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

2

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 9, Problem 2QS

1

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

2

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.

Answer 6

Chapter 9, Problem 2QS

1

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

Answer 7

Chapter 9, Problem 2QS

1

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

Answer 8

2

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.

Answer 9

2

Summary Introduction

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 9 - Prob. 1DQ Ch. 9 - Prob. 2DQ Ch. 9 - Prob. 3DQ Ch. 9 - What is the combined amount (in percent) of the...Ch. 9 - What is the current Medicare tax rate? This rate...Ch. 9 - Prob. 6DQ Ch. 9 - Prob. 7DQ Ch. 9 - Prob. 8DQ Ch. 9 - Why are warranty liabilities usually recognized on...Ch. 9 - Prob. 10DQ

Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government. To prepare: The journal entry to record sales & sales tax.

Solution Summary: The author explains that sales tax is a tax paid by the seller of the goods to the state government.

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.

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Chapter 9 Solutions

Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government. To prepare: The journal entry to record sales &amp; sales tax.

Solution Summary: The author explains that sales tax is a tax paid by the seller of the goods to the state government.

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government. To prepare: The journal entry to record sales & sales tax.

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government. To prepare: The journal entry to record payment of sales tax to state government.

Want to see the full answer?

Chapter 9 Solutions

Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government. To prepare: The journal entry to record sales & sales tax.

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record sales & sales tax.

Introduction:Sales tax is applicable on the amount of sales made by a company. it is a tax paid by the seller of the goods to the state government. The rate of sales tax is fixed by the government.

To prepare: The journal entry to record payment of sales tax to state government.