Ishee Company does not segregate sales and sales tax on its cash register.

3.) Ishee Company does not segregate sales and sales tax on its cash register. Its register total for the month is $291,500, which includes a 6% sales tax.Compute sales tax payable and make the entries to record sales and sales taxes payable.4> Old Hampton Company is preparing adjusting entries at Decmber 31. An analysis reveals the following:1. during December Old Hampton co sold 3000 units of a product that carries a 60 day warranty. The sales for this product totaled $100,000. The co expects 4& of the units to need repair under the warranty and it estimates that the average repair cost will be $15 per unit.2. The co has been sued by a disgruntled employee. Legal counsel believes that it is reasonably possible that the co will have to pay $200,000 in damages.3. The co has been named as one of several defendants in a $400,000 damage suit. Legal counsel believes that it is unlikely to pay damages.4.Employees earn vacation pay at a rate of 1 day per month. During December 10 employees qualify for vacation pay. Their average daily pay is $90 per employee.InstrustionsPrepare adjusting entries if required for ach of the four items.3.)

Ishee Company does not segregate sales and sales tax on its cash register. Its register total for the month is $291,500, which includes a 6% sales tax. Compute sales tax payable and make the entries to record sales and sales taxes payable.4> Old Hampton Company is preparing adjusting entries at Decmber 31. An analysis reveals the following:1. during December Old Hampton co sold 3000 units of a product that carries a 60 day warranty. The sales for this product totaled $100,000. The co expects 4& of the units to need repair under the warranty and it estimates that the average repair cost will be $15 per unit.2. The co has been sued by a disgruntled employee. Legal counsel believes that it is reasonably possible that the co will have to pay $200,000 in damages.3. The co has been named as one of several defendants in a $400,000 damage suit. Legal counsel believes that it is unlikely to pay damages.4.Employees earn vacation pay at a rate of 1 day per month. During December 10 employees qualify for vacation pay. Their average daily pay is $90 per employee.InstrustionsPrepare adjusting entries if required for ach of the four items.

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