Journalize the Entries to Record the Following Selected Transactions

question 110

Essay

Journalize the entries to record the following selected transactions:
(a)Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the merchandise sold was $510.
(b)Paid $436 to the state sales tax department for taxes collected.

---

Definitions:

Frederick Taylor

Pioneer of scientific management theory, which emphasizes efficiency and productivity through the analysis and organization of work flows.

Standardization

The process of developing and implementing technical standards to make a process or product more consistent and efficient.

Task Study

The examination and analysis of how tasks are accomplished within an organization, often aiming to enhance efficiency and productivity.

Theory Y

is a management approach that assumes employees are self-motivated, enjoy work, and will seek and accept responsibility and challenges.