accounting-Artistic Metals sold some yard art for $50.00 and collected 6% sales tax

QUESTION

Question 1.1.Artistic Metals sold some yard art for $50.00 and collected 6% sales tax. Which journal entry reflects this sale? Ignore inventory and cost of goods sold for this question. (Points : 20) Cash53.00 Sales Revenue53.00 Cash53.00 Sales Revenue50.00 Sales Tax Payable3.00 Cash53.00 Sales Revenue50.00 Sales Tax Expense3.00 Cash50.00 Sales Tax Expense3.00 Sales Revenue53.00Question 2.2.Monroe Company provides warranties for customers on sales of their clocks. They estimate that 2% of their sales will require warranty claims. In 20X3, they had $525,000 in sales of clocks. The beginning balance in the estimated warranty payable account was $8,500. They paid claims of $13,275 throughout the year. What should be the ending balance in the estimated warranty payable account? (Points : 20) $10,500 $19,000 $5,725 $4,775Question 3.3.The table below provides payroll information for Tim Watson for the month of June: Salary$6,200Insurance$350Bonus$500Charitable contributions$50Federal Tax Withholding Rate25%State Tax Withholding Rate6%FICA Tax Withholding Rate5.65%What is the total for Tim Watson’s optional deductions? (Points : 20) $400 $802 $900 $350Question 4.4.A(n) ________ is a special journal used to record the details of salary expense. (Points : 20) earnings record payroll check enterprise resource planning system payroll recordQuestion 5.5.When the employer remits federal income tax withheld from employees’ paychecks, the entry to record the payment should include a debit to ________. (Points : 20) payroll tax expense employee income tax payable salary expense employee benefits payable

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