Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please explain in detail both solutions cycj l

Please explain in detail both solutions CyCJ LICULUI LUUL UL SUUS...

50.1K

Verified Solution

Question

Accounting

Please explain in detail both solutions

image

CyCJ LICULUI LUUL UL SUUS The ending inventory of Larkin Company, which uses a periodic inventory system, was understated $7,000 on December 31, 2007, and overstated $3,000 on December 31, 2008. Because of these errors, 2008 net income was overstated $3,000. overstated $10,000. understated $4,000. understated $10,000. Anne Company has total cash register receipts of $13,230. This total includes a 5% sales tax. The entry to record the receipts will include a a. debit to Sales Tax Expense for $630. b. credit to Sales for $13,230. c. credit to Sales Taxes Payable for $662. d. credit to Sales Taxes Payable for $630

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

Use the graphs below to answer questions 1 4 PROPERTIES OF TRANSFORMATIONS 6 5 4...

Basic Math
1.2K views

1. Can two variables share a deterministic relationship, and yet be uncorrelated? For instance, suppose that...

Psychology
1.2K views

Post one reply to each question below      1. Which theory of motivation most applies to you with regard...

Advance Math
1.2K views

i need a very detailed proof (Show your work!) Let n > 1. Prove: The sum of the positive integers...

Physics
1.2K views

14 A point charge 1 nC is placed at 50 cm from the centre of...

Geometry
1.2K views

5 29 What is the area of the segment 10ft Q M N 30 T...

Calculus
1.2K views

On one ranch the farmer decided not to randomize the order of treatments and instead...

Calculus
1.2K views

Two books and three DVDs costs 54 Three books and one DVD costs 46 Find...

Algebra
1.2K views

Find the mean median and mode of the data set 15 16 21 23 25...

Accounting
1.2K views

In the month of June, Doe Company sold 400 widgets. The average sales price was...

Accounting
1.2K views

Perrette Motor Company rebuilds automobile engines that have been damaged or are in need of...

Finance
1.2K views

answer 20 not 10 pleases + Chapter 13 HW X + C newconnect....