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| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1. Wrecker Computing sells merchandise for $5,000 cash on September 30 (cost of merchandise is $2,900). The sales tax law requires Wrecker to collect 4% sales tax on every dollar of merchandise sold. Record the entry for the $5,000 sale and its applicable sales tax. Also record the entry that shows the remittance of the 4% tax on this sale to the state government on October 15.
2. Tickets, Inc., receives $5,500,000 cash in advance ticket sales for a four-date tour of Bruce Springsteen. Record the advance ticket sales on October 31. Record the revenue earned for the first concert date of November 8, assuming it represents one-fourth of the advance ticket sales.
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