Accounting for Tax

Name: _________________________________________

Accounts:

A/R - various A/P - various

Bank Fees Earned

Telephone Expense Gas Expense

Equipment Wages Expense

HST Payable HST Recoverable

Ace Courier is a delivery company located in Markham. The following transactions occurred for the month of August 2021. Prepare the journal entries. At the end, prepare one final journal entry to clear the HST account(s).

August 1 Ace performs a service for D. Harper for $1200 plus HST of $156 that was paid for in cash.

August 3 Ace pays the phone bill for the month for $150 plus HST with cheque #1121.

August 7 Turner Moving Co., a debtor, pays off $500 of the amount they owed to Ace.

August 11 Ace receives the monthly Esso Invoice for July for the amount of

$1450 plus HST.

August 17 Ace performs a service for S. Patrick for $2260, including HST on account.

August 22 Ace purchases a new dolly to move piano's from Home Depot for $500 plus HST on account.

August 24 Ace pays the monthly wages of $4500.

August 28 Ace completes a service for Kirk Jones for $5000 plus $650 HST. Mr. Jones pays in cash because he hates owing any money.

September 1 Remit HST to CRA for the month of August

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Date	Particulars	PR	Debit	Credit