Hogarth Ltd. had the following transactions in February 20X8:a. Recorded sales of $3,950,000, plus GST of 5%.b. Recorded sales of $13,100,000, plus GST of 5%.c. Bought equipment for $1,320,000, plus GST of 5%.d. Recorded the bimonthly payroll of $88,600. CPP deductions were $1,550, El deductions were $2,100, and income tax withheldamounted to $7,600. (Employer portions of payroll taxes are recorded only at the end of the month.)e. Recorded sales of $3,150,000, plus GST of 5%.f. Bought inventory for $12,900,000, plus GST of 5%.g. Recorded the bimonthly payroll. The amounts were identical to the prior bimonthly payroll.h. Recorded the employer portion of payroll expenses for the entire month.i. Remitted payroll taxes for the month.j. Remitted net GST for the month.Required:Provide journal entries to record all transactions. Assume transactions with customers and suppliers were for cash. (If no entry isrequired for a transaction/event, select "No journal entry required" in the first account field.)View transaction listJournal entry worksheet<123TransactionRecord the sales and GST payable.Note: Enter debits before credits.45General Journal68Debit910Credit>

Journal Entry -A business's accounting records are where a business documents a transaction through…

Hogarth Ltd. had the following transactions in February 20X8: a. Recorded sales of $3,950,000, plus GST of 5%. o. Recorded sales of $13,100,000, plus GST of 5%. c. Bought equipment for $1,320,000, plus GST of 5%. d. Recorded the bimonthly payroll of $88,600. CPP deductions were $1,550, El deductions were $2,100, an amounted to $7,600. (Employer portions of payroll taxes are recorded only at the end of the month.) e. Recorded sales of $3,150,000, plus GST of 5%. f. Bought inventory for $12,900,000, plus GST of 5%. g. Recorded the bimonthly payroll. The amounts were identical to the priorbimonthly payroll. n. Recorded the employer portion of payroll expenses for the entire month. i. Remitted payroll taxes for the month. j. Remitted net GST for the month. Required: Provide journal entries to record all transactions. Assume transactions with customers and suppliers were 1 UNL

Hogarth Ltd. had the following transactions in February 20X8: a. Recorded sales of $3,950,000, plus GST of 5%. o. Recorded sales of $13,100,000, plus GST of 5%. c. Bought equipment for $1,320,000, plus GST of 5%. d. Recorded the bimonthly payroll of $88,600. CPP deductions were $1,550, El deductions were $2,100, an amounted to $7,600. (Employer portions of payroll taxes are recorded only at the end of the month.) e. Recorded sales of $3,150,000, plus GST of 5%. f. Bought inventory for $12,900,000, plus GST of 5%. g. Recorded the bimonthly payroll. The amounts were identical to the priorbimonthly payroll. n. Recorded the employer portion of payroll expenses for the entire month. i. Remitted payroll taxes for the month. j. Remitted net GST for the month. Required: Provide journal entries to record all transactions. Assume transactions with customers and suppliers were 1 UNL

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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