DATEPARTICULARSPRGENERAL JOURNAL PageDEBITCREDIT HST Transactions:March of 20111 - Sold accounting services to Coffee Industries for $1000 plus HST on account.5 - Purchased equipment on account for $2 000 plusHST of $260.6 - Purchased supplies for cash for $300 plus HST of$39.10 - Sold accounting services to Nestle Corp. for $1 500cash plus tax.15- Remitted $320 of HST to government.17 - Sold $3 000 of accounting services to Nestle Corp. onaccount plus tax.22 - Sold $1 400 of accounting services for cash plus tax.31 - Filed HST return to the government for the month ofMarch. Here are the account balances:HST Payable$1500.00650.00HST RecoverableHST Owing/(Recoverable)$850.00Chart of accountsBankAccounts ReceivableHST RecoverableSuppliesEquipmentAccounts PayableHST PayableCapitalDrawingsRevenuesExpenses

Name: DATEPARTICULARSPRGENERAL JOURNAL PageDEBITCREDIT HST Transactions:Mar
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Description: DATEPARTICULARSPRGENERAL JOURNAL PageDEBITCREDIT HST Transactions:March of 20111 - Sold accounting services to Coffee Industries for $1000 plus HST on account.5 - Purchased equipment on account for $2 000 plusHST of $260.6 - Purchased supplies for c

Note: Since the HST Rate is not available, I assumed HST Rate to be 13%

Business

Accounting

HST Transactions: March of 2011 1 - Sold accounting services to Coffee Industries for $1 000 plus HST on account. 5- Purchased equipment on account for $2 000 plus HST of $260. 6- Purchased supplies for cash for $300 plus HST of $39. 10 - Sold accounting services to Nestle Corp. for $1 500 cash plus tax. 15 Remitted $320 of HST to government. 17 - Sold $3 000 of accounting services to Nestle Corp. or account plus tax. 22 - Sold $1 400 of accounting services for cash plus tax. 31 Filed HST return to the government for the month of March. Here are the account balances: HST Payable $1500.00 650.00 HST Recoverable HST Owing/(Recoverable) $850.00 Chart of accounts Bank Accounts Receivable HST Recoverable Supplies Equipment Accounts Payable HST Payable Capital Drawings Revenues Expenses

HST Transactions: March of 2011 1 - Sold accounting services to Coffee Industries for $1 000 plus HST on account. 5- Purchased equipment on account for $2 000 plus HST of $260. 6- Purchased supplies for cash for $300 plus HST of $39. 10 - Sold accounting services to Nestle Corp. for $1 500 cash plus tax. 15 Remitted $320 of HST to government. 17 - Sold $3 000 of accounting services to Nestle Corp. or account plus tax. 22 - Sold $1 400 of accounting services for cash plus tax. 31 Filed HST return to the government for the month of March. Here are the account balances: HST Payable $1500.00 650.00 HST Recoverable HST Owing/(Recoverable) $850.00 Chart of accounts Bank Accounts Receivable HST Recoverable Supplies Equipment Accounts Payable HST Payable Capital Drawings Revenues Expenses

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 8DQ

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