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Question 10 When you have a sale transaction, which is the appropriate GST account to use...
journlize the follwing transaction GST 5% omit explanation 1 jan purchased office equipment on account $1800...
journlize the follwing transaction GST 5% omit explanation 1 jan purchased office equipment on account $1800 + gst 5 jan owner paid his home cable bill from the company cheque book,$125 10 jan recived $1200 cash for services perfomed +gst 20 jan internet bill received, but not paid $685+ gst 28 jan perfomed services $5270 + gst payment not recieved 30 jan paid one month rent $1756 + gst 31 jan bought a computer for cash $799+ gst
please only complete question 11 i have question 10 done Return to question 10 Part 1...
please only complete question 11 i have question 10 done
Return to question 10 Part 1 of 2 Required information Exercise 7-5 (Algo) Trade and cash discounts; the gross method and the net method compared (L07-3) [The following information applies to the questions displayed below.) points Tracy Company, a manufacturer of air conditioners, sold 150 units to Thomas Company on November 17, 2021. The units have a list price of $560 each, but Thomas was given a 25% trade discount....
20. For each transaction, identify which account is debited and which account is credited. Use proper...
20. For each transaction, identify which account is debited and which account is credited. Use proper account titles (Cash, Accounts Receivable, etc.). Debit Credit Transaction Received a bill for utilities to be paid next month Performed services on account Paid employees' salaries Paid cash for a 6-month insurance policy, with coverage starting next month Paid dividends to stockholders Borrowed cash and signed a promissory note Used up warehouse supplies Received cash from a customer to pay on their account Received...
Data regarding Petrilla Corp. in March 20X9: Selected opening balances: GST payable $ 66,400 (cr.) CPP...
Data regarding Petrilla Corp. in March 20X9: Selected opening balances: GST payable $ 66,400 (cr.) CPP payable 4,700 (cr.) EI payable 6,700 (cr.) Income tax deductions payable 18,480 (cr.) Cash sales for the period, $1,070,000 plus 5% GST. Monthly payroll, $135,000; less EI, $4,700; CPP, $3,700; income tax, $13,700. The employer portion of payroll taxes was also recorded. Inventory purchases on account, $1,670,000 plus 5% GST. Cash sales, $3,270,000, plus 5% GST. Sales to U.S. customer on account, US$187,000. There...
Correct the red spaces to fix Ledgers (with the GST rate being 10%) This question carries...
Correct the red spaces to fix Ledgers
(with the GST rate being 10%)
This question carries on from the previous purchase transaction. Now we assume that we have sold 5 items for a total of 27500 (GST inclusive) on 30 July 2014 to ABC Pty Ltd on account. Terms are 2/10 n30. ABC Pty Ltd is your only debtor. Assume a perpetual average cost inventory system. All numerical answers should be in the format xxoxx (no symbols, spaces or commas)....
Record the appropriate journal entry for each transaction. General Journal Date Account/Explanation PR Jan Debit Credit...
Record the appropriate journal entry for each transaction. General Journal Date Account/Explanation PR Jan Debit Credit 1 (issued checks to shareholders totaling $150) Jan 2 (Performed services for D Co. and received payment of $300) Jan 3 (Performed $240 of services on account for P Co.) Jan 4 (Received a $60 invoice from AT&T for this month's phone service) Jan 5 (Paid $210 on account (amount owed suppliers)) Jan 6 (Issued a $120 check to Paper Co. for ads run...
We have purchased 20 items at 2500 each (GST exclusive) on 26 July 2014 from The...
We have purchased 20 items at 2500 each (GST exclusive) on 26
July 2014 from The Suppliers Pty Ltd on account. Terms are 5/10
n30.
The Suppliers Pty Ltd is your only creditor. Assume a perpetual
inventory system.
(GST rate 10%)
All numerical answers should consist of digits from 0 to 9 (no symbols, spaces or commas). Dates should be entered as dd/mm/yy (eg 01/06 13) Each box must be have an aswer - If it would normally be blank...
ate Transaction Merida Inc settled their account in full. The only outstanding invoice was one dated...
ate Transaction Merida Inc settled their account in full. The only outstanding invoice was one dated 13/05/13 for $105600 terms 5/10 n30. 1/06/13 28/06/13 Received a total of $25300 cash for the sale of inventory Drift & Co has a gross profit margin of 60%. (COGS will therefore be s9200) Cash Receipts Journal Debit Credit Account Date Cash At Bank Sales Discounts Dr COGS Sales Revenue Credited GST Net AR GST Net Cr Inventory 21/06/13 Merida Inc 100320 480 4800...
Tomlin Limited, a New Zealand GST registered company, is a retailer of filter systems. Shown below...
Tomlin Limited, a New Zealand GST registered company, is a retailer of filter systems. Shown below are the company's beginning inventory and purchases of a particular filter for unit Z-398 in March, all exclusive of GST Beginning inventory (March 1st) 0 Purchase (March 5th) Purchase Return (March 7th) Purchase (March 26th) Purchase (March 31st) Quantity Unit Cost Total Cost $190 $212 $212 $215 $220 $O $4,240 $1,060 $4,300 $6,600 20 20 30 On March 21st, Tomlin Limited sold, on credit,...
Show the effect, if any, of the transaction entry or adjusting entry on the appropriate balance...
Show the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by selecting the amount and indicating whether it is an addition (+) or a subtraction (-). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity. In some cases. only one column may be affected because all of the specific accounts affected by the transaction are...
please only complete question 11 i have question 10 done
Return to question 10 Part 1 of 2 Required information Exercise 7-5 (Algo) Trade and cash discounts; the gross method and the net method compared (L07-3) [The following information applies to the questions displayed below.) points Tracy Company, a manufacturer of air conditioners, sold 150 units to Thomas Company on November 17, 2021. The units have a list price of $560 each, but Thomas was given a 25% trade discount....
20. For each transaction, identify which account is debited and which account is credited. Use proper account titles (Cash, Accounts Receivable, etc.). Debit Credit Transaction Received a bill for utilities to be paid next month Performed services on account Paid employees' salaries Paid cash for a 6-month insurance policy, with coverage starting next month Paid dividends to stockholders Borrowed cash and signed a promissory note Used up warehouse supplies Received cash from a customer to pay on their account Received...
Correct the red spaces to fix Ledgers
(with the GST rate being 10%)
This question carries on from the previous purchase transaction. Now we assume that we have sold 5 items for a total of 27500 (GST inclusive) on 30 July 2014 to ABC Pty Ltd on account. Terms are 2/10 n30. ABC Pty Ltd is your only debtor. Assume a perpetual average cost inventory system. All numerical answers should be in the format xxoxx (no symbols, spaces or commas)....
Record the appropriate journal entry for each transaction. General Journal Date Account/Explanation PR Jan Debit Credit 1 (issued checks to shareholders totaling $150) Jan 2 (Performed services for D Co. and received payment of $300) Jan 3 (Performed $240 of services on account for P Co.) Jan 4 (Received a $60 invoice from AT&T for this month's phone service) Jan 5 (Paid $210 on account (amount owed suppliers)) Jan 6 (Issued a $120 check to Paper Co. for ads run...
We have purchased 20 items at 2500 each (GST exclusive) on 26
July 2014 from The Suppliers Pty Ltd on account. Terms are 5/10
n30.
The Suppliers Pty Ltd is your only creditor. Assume a perpetual
inventory system.
(GST rate 10%)
All numerical answers should consist of digits from 0 to 9 (no symbols, spaces or commas). Dates should be entered as dd/mm/yy (eg 01/06 13) Each box must be have an aswer - If it would normally be blank...
ate Transaction Merida Inc settled their account in full. The only outstanding invoice was one dated 13/05/13 for $105600 terms 5/10 n30. 1/06/13 28/06/13 Received a total of $25300 cash for the sale of inventory Drift & Co has a gross profit margin of 60%. (COGS will therefore be s9200) Cash Receipts Journal Debit Credit Account Date Cash At Bank Sales Discounts Dr COGS Sales Revenue Credited GST Net AR GST Net Cr Inventory 21/06/13 Merida Inc 100320 480 4800...
Tomlin Limited, a New Zealand GST registered company, is a retailer of filter systems. Shown below are the company's beginning inventory and purchases of a particular filter for unit Z-398 in March, all exclusive of GST Beginning inventory (March 1st) 0 Purchase (March 5th) Purchase Return (March 7th) Purchase (March 26th) Purchase (March 31st) Quantity Unit Cost Total Cost $190 $212 $212 $215 $220 $O $4,240 $1,060 $4,300 $6,600 20 20 30 On March 21st, Tomlin Limited sold, on credit,...
Show the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by selecting the amount and indicating whether it is an addition (+) or a subtraction (-). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity. In some cases. only one column may be affected because all of the specific accounts affected by the transaction are...
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