Carlyle Company sold goods for 425 plus a 7 percent sales tax to ...

[TVarnum]

Carlyle Company sold goods for 425 plus a 7 percent sales tax to a customer using a bank credit card. The bank deducts a 3 percent discount. Carlyle Company debits Cash for
 a. 441.11.
   b. 412.25.
   c. 454.75.
   d. 437.75.
   e. 468.50.

Question 2

A county uses the consumption method to account for General Fund materials and supplies. The beginning inventory of materials and supplies was 122,000 . The ending inventory was 150,000 .
 
  The beginning balance of reserve for encumbrances (for supplies ordered but not received at the beginning of the year) was 50,000; the ending balance was 20,000 . Supplies purchased during the year totaled 750,000 . The county General Fund should report expenditures for materials and supplies for the year of
  a. 722,000
  b. 750,000
  c. 752,000
  d. 780,000

[aham8f]

Answer to Question 1

a

Answer to Question 2

A

[TVarnum]

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[vickybb89]

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