Cooks Department Store files GST returns monthly. If the figures in the following table represent the stores
Question:
Transcribed Image Text:
2 Marth Sales Parchases 546 500 244 c00 588 00 552 300 155 800 147 832 Fatnuany March lori 65 500 855 000 450000 8 09
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
GSTcollected GST paid 5of GSTpayable Month 5 of sales purchase...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
Pratts Department Store is opening a new store in The Centers Mall. Customer movement tracked in its existing stores is shown below. Design a layout for Pratts new store on a 2 x 3 grid that will...
-
Sales of quilt covers at Bud Banis's department store in Carbondale over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective...
-
Consider the following calendar: Miller's Department Store commenced business on September 1. It is open every day except Sunday. Its total payroll for all employees is $6,000 per day. Payments are...
-
Q Ltd prepares accounts to 31 March each year. The company made the following two disposals of chargeable assets during the year to 31 March 2021: (1) 1,250 shares in Hentic Ltd were sold on 28 June...
-
Whats the difference between an organizations website and a blog written by the CEO or an employee?
-
Refer to Exercise 8.52. Find the probability of these events. a. A 2-year-old child is taller than 36 inches. b. A 2-year-old child is shorter than 34 inches. c. A 2-year-old child is between 30 and...
-
Give an example of a one of the best displays of interpersonal skills you have seen in a PowerPoint presentation by one of your professors.
-
The chart of accounts of Sabre Company includes the following selected accounts. 112 Accounts Receivable 401 Sales Revenue 120 Inventory 412 Sales Returns and Allowances 126 Supplies 505 Cost of...
-
Non-Tax Oriented Lease: Net Advantage to Leasing Dunbar Corporation can purchase an asset for $30,000; the asset will be worthless after 15 years. Alternatively, it could lease the asset for 15 years...
-
Alcorn Service Company was formed on January 1, 2016. Events Affecting the 2016 Accounting Period 1. Acquired $20,000 cash from the issue of common stock. 2. Purchased $800 of supplies on account. 3....
-
A sales representative selling auto parts receives a commission of 4.5% on net sales up to $10 000, 6% on the next $5000, and 8% on any further sales. If his gross sales for a month were $24 250 and...
-
Rizas Home Income Tax business operates only during tax season. Last season Riza grossed $28 350 including GST, during that season she spent $8000 before GST on her paper and supply purchases. How...
-
Chase Publishing Company purchased the copyright to a financial textbook for $\$ 25,000$. Although the author thought the book would serve academia for 10 years, the reality is that the typical life...
-
The following information appears in the records of Poco Corporation at year-end: a. Calculate the amount of retained earnings at year-end. b. If the amount of the retained earnings at the beginning...
-
For the following four unrelated situations, A through D, calculate the unknown amounts appearing in each column: A B D Beginning Assets... $38,000 $22,000 $38,000 ? Liabilities.. 22,000 15,000...
-
On December 31, John Bush completed his first year as a financial planner. The following data are available from his accounting records: a. Compute John's net income for the year just ended using the...
-
Statement of Stockholders' Equity and Balance Sheet The following is balance sheet information for Flush Janitorial Service, Inc., at the end of 2019 and 2018: Required a. Prepare a balance sheet as...
-
Petty Corporation started business on January 1, 2019. The following information was compiled by Petty's accountant on December 31, 2019: Required a. You have been asked to assist the accountant for...
-
In a bank reconciliation, deposits in transit are: (a) deducted from the book balance. (b) added to the book balance. (c) added to the bank balance. (d) deducted from the bank balance.
-
How do network effects help Facebook fend off smaller social-networking rivals? Could an online retailer doing half as much business compete on an equal footing with Amazon in terms of costs? Explain.
-
What are some classic theories of motivation? How applicable are they today?
-
Parth bought an annuity to pay him $2500.00 at the end of every six months for twenty years. How much of the total annuity payments is interest, if interest is 4.5% p.a. compounded semi-annually?
-
A trust fund is set up to make payments of $1000.00 at the end of each quarter for ten years. Interest on the fund is 5% compounded quarterly. (a) How much money must be deposited into the fund? (b)...
-
How much will it cost Hitomi to purchase a two-level retirement annuity that will pay $5000 at the end of each month for the first 10 years, and $7000 per month for the following 15 years? The...
-
What general conclusions can you draw about your companys liquidity, solvency and productivity based on your ratio calculations. Working Capital 2017 = $9,994 M 2016 = $10,673 M Current Ratio 2017 =...
-
Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain...
-
5. The current spot exchange rate is 0.95/$ and the three-month forward rate is 0.91/$. Based on your analysis of the exchange rate, you are pretty confident that the spot exchange rate will be...
Study smarter with the SolutionInn App