Can someone help me to do the posting in Journals of this transaction.
Trans 21122 Mar. 1 4 4 Puid rent cheque No 121 to Smithstone Realty: $900.00 + HST of 13% Purchased merchandise from Jones Company, invoice No JC 59087 CT-0150 a $10 each + HST CY-0150 a $10 each + HST Puod $6 from petty cash fund for doughnuts, voucher No. 01 miscellaneous expensc, NO HST). Sold merchandise on account to Morris Company, invoice Na, CD 1081 (cost of goods sold is calculated as 75% of sales betore GST): PO-015539.99 each + HST PO-025539.99 each + HST SIC-01659 each + HST Paid Dresses by Shelley 51,510.22 (invoice No DS 12895), choque No 122 PAYROLL. JOURNAL- JANUARY Provincial Cumu CPP 1 Employee Mela Jane Hall Ice M Grons Eins 1860.00 3190 000 400.00 Fed 14427 2 5552 45984 IT Pro Total 0.00 12503 3180/55 212416 68400 11 08 82 1 3 1 1 90 6000 JANUARY Chngu N CPP 9963 129 11 1981 Deductions ED Health 3097 23.00 5452 42.00 80 84 42100 Chuntable 20.00 13000 140.00 Nos Pw 1655 13 2262 32535 00515 120 33 102.00 190,00 702370 PAYROLL.JOURNAL-TEBRUARY Teen Employee Mel Case le Hd CHE 1 1 3 1 13 220 Doe 13 22016 To 100 33655 45 Coco ET 34 Ph 1835 . 12911 1941 00 200 4100 STS SOSIS DSC33 1920 10000 TI Mar. 5 7 0 8 11 12 12 12 13 Received payment from Ronald Company, 55,538.00 invece No CD 1078) Paid 512.60 (including GST from petty cash fund for postage voucher No. 02 Paid Blew Company $2,543.77, cheque No 123vice No BC 1795) Received payment from Sally Stone voice Na CD 1076). $2,753.85 Pasd 55 for delivery expense from petty cash fund voucher No 03 Received amount due from Morris Company, less discount Purchased from Dress by Shelles, invoice No DS 12947 CD-01 75 @ 519 each + HST CD-0275 $19 each + HST Paid cleaning service 5300 + HST, cheque Na 124 (cheque was issued to Cleaners Inc Purchased from Blew Company, invoice No BC 1896 DI-01 20 @ $48 each + HST DS-01 20 $80 each - HST PO-01 75 512 50 each + HST PO42-5 t $125) cch + SI Sold to Bing Company, imice No. CD 1062 cost of goods sold is calculated as 75% of sales SD-015 @ $29.99 each + HST Paid CRA for income tax, CPP, and El for Februses, cheque No 125 (Note: Record as a compound entry in the cash payments journal 15 15 583 WINTING FOR AD DEUTS Mar 15 Paid CRA for HST due (net) end of February, cheque Na 15 Paid the Government of Ontario for medical peemi for the month of February, cheque No 127 18 Cash sales, summarised on invoice No CD 1083 conto goods sold is calculated at 75% of sales CD-01 30559.95 cach + HST CD-02 45 @ $59.95 each + HST CT 01 15 $30 each + HST CY.01 21 a $30 each + HST DI-01 10 $150 cach + HST DS-016 l 20 cach HST SIC-014 4 $89 each + HST WD-015 a $750 each + HST 18 Paid Jones Company amount owed (moice No JC 52157) cheque No 128 19 Bing Company received an allowance for its purchase invoice No. CD 102 Credit memo No 001 was issued. No inventory was returned 19 Paid Dresses by Shelley amount due, less 2. discount Na DS 12947), choque No 129. 20 Betty Loch withdrew 51,000 for her personal use. cheque No 130 21 Sold to Sally Store, invoice No CD 1084 D1-01 10 a $150 each + HST CD-01 0 a $559 95 cach H5T 26 Purchased from Dresses by Shelley, invoice No DS 136 CD-01 50 a $19 cach + HST CD-02 50 a $19 each + HST 28 Paid $10 from the petty cash fand for first aid emergency voucher No 04 29 Recorded and paid employees, cheques No 131, No 132 No 133 (cash payments journal) 30 Issued cheque to Jane Hell for replenishment of petty cash find cheque No 134 (compound entry in cash paymenes mal Additional Data a. Physical.count of merchandise ventory is $6,500 b. Rental income cared, $300 (one month rent from subletting received in de in February c. Depreciation (straight line Delivery truck Residual value = 51.800, expected life of 5 years Computer Residual value = $ 300, aspected life of Sycan Computer Residual vales expected life of 2 years Software d. One month of insurance has expired. " STOLT 584 CHAPTER 12 The Corner Dress Shop Min Practice Set will help you review all the concepts of the accounting of chok over the business known as The Corner Dress Shop on January 1, 222 Bc purchased the business name and all Escocah from her Aunt Manon, w budrun it for over ten year. Certains were used by Betty new busi ne part of the deal Mini Practice Set ort Its Yuld are the bookkeeper of The Corner Dress Shop and have gathered the follow inje information. It is your task to complete the accounting cycle for March 2012 Estimated time 5 hours sior THE CORNER DRESS SHOP TRIAL BALANCE TERARY, ON cou To Deco dit to 10701 599.00 1220 2.4.30 he 16000 WH 4364 30 900 5000.00 2012 7:39:00 12/0 0.00 Pencah Neco Receive Office Supplies Prepaid Rent Prenad GST Prepaid Im Computer and Office Equipem Ae Depot Computer & Of Computer Share Sec, Deph Cute Sir Deliver Truck Ace Deplo Deliven Track Accounts Payable Income Table El Pavlic CPP Payable Medical Plan Payable Charitable Donate GST Collected Rent Received in the Berry Lach, Capital Betty Lab, Withik Sales Case of GSM 34000 4789 11 UOMO 00200 150.00 201365 oooo ME 07:30 730 000 DOGS 19073138 15102000 100 4762 20000 10 126 112 615 3D 1460.00 TT 92.9 10 115 92910 Cape El Ben Imunoce II Rent Expo Dopo Get Online Depois Dapper Debten Trick ACCOUNTING FOR BAD DEBTS 579 Balances in subsidiary ledgers as of February 28: Accounts Receivable Accounts Payable" Ronald Co $5,538.00 Blew Co. $2,543.77 Sally's Store 2,753.85 Dresses by Shelley 1,510.22 Silk Magic 735.00 Includes 51 GST Payroll is paid monthly, and employee claim codes are unchanged. The payroll register for January and February is provided on pages 582-583. In March, salaries are as follows (all deductions are the same unless indicated): Jane Holl Mel Case $ 1,860 Assume all income taxes are calculated as 20% of gross wages. 2,900 For CPP and El assume 0.0495 and 0.0188, respec- tively. (Remember to include the calculation for CPP exemption of $3,500 per year.) Jackie Moore 4,300 Required a. Set up a general ledger, accounts receivable ledger, accounts payable ledger, aux- iliary petty cash record, and payroll register. (Before beginning, be sure to update the ledger accounts on the basis of information given in the trial balance for February 28.) b. Journalize all transactions during March, using the special journals discussed in the text. Assume this company uses the perpetual inventory method. The practice set can be completed using either method of accounting for inventory. If no specific method is indicated by your instructor, use the perpetual method. Assume the cost of all inventory is 75% of its selling price. c. Prepare the payroll register for March d. Update the accounts payable and accounts receivable subsidiary ledgers for March. e. Post to the general ledger f. Prepare a trial balance on a worksheet and complete the worksheet as of March 31, 2022. g. Prepare an income statement, statement of owner's equity, and classified balance shect, h. Journalize the adjusting and closing entries. i. Post the adjusting and closing entries to the ledger. j. Prepare a post-closing trial balance. The chart of accounts for The Corner Dress Shop is provided on the next page. Chart of Accounts Assets Accounts Payable Accrued Wages 1135 1110 Cash 1115 Petty Cash 1120 Accounts Receivable Office Supplies 1140 Prepaid Rent 1145 Prepaid Insurance 1150 HST Prepaid 1210 Inventory 1330 Computer and Office Equipment 1335 Acc. Depin.-Computer & Office Equipment 1340 Computer Software 1345 Acc. Dep'n.-Computer Software 1350 Delivery Truck 1355 Acc. Dep'n.-Delivery Truck Liabilities 2100 2200 2330 Income Tas Payable 2335E Payable 2340 CPP Payable 2350 Medical Plan Payable 2360 Charitable Donations Payable HST Collected Rent Received in Advance 2400 2500 Owner's Equity 3110 Betty Loeb, Capital 3120 Betty Loeb, Withdrawals Cost of Goods Sold 5040 Cost of Goods Sold Revenue 4110 Sales 4140 Sales Discounts 4150 Sales Returns & Allowances Expenses 5400 Wages Experise 5430 Bl Expense 5440 CPP Expense 5500 Postage Expense 5510 Insurance Expense 5520 Cleaning Expense 5530 Rent Expense 5540 Delivery Expense 5550 Dep'n. Expense-Computer and Office Equipment 5560 Dep'n. Expense-Software 5570 Dep'n. Expense-Delivery Truck 5590 Accounting Expense 5595 Miscellaneous Expense Tractions 2122 Mar. 1 4 4 Paid rent cheque No 121 to Smithstone Realty, $900.00 + HST of 13% Purchased merchandise from Jones Company, invoice NoJo 5008: CT 01 50 510 each + HST CY 01 50 a $10 cach + HST Puld $6 from petty cash fund for doughnuts, voucher Na 01 miscellaneous expense, NO HST). Sold merchandise on account to Morris Company, invoice No CD 1081 (cost of goods sold is calculated as 75% of sales before GST): PO-015 @ 39.99 each + HST PHP? 5 g 89 90 cach + HST SIC-016 $49 cach + HST Paid Dresses by Shelley $1,510.22 (invoice No DS 12895), cheque No 122 Iden Claim Employee Mel C Juno Hot Jacke More PAYROLI. JOURNAL-JANUARY Provincial GO Camale CPP IT Fed IGO.CO 0427 1 2900.00 2,552 3 4300 459 IT-Prow IT-Total 000 0027 12/03 o 55 212416 00 11102 1 2000/00 JANUARY N CPP 171963 129 11 19641 Dedictions EL Health 2,800 15052 102 00 B054 4200 3099 Chantale 20.00 3000 4000 Net w 165513 22652 325075 408 15 17033 102 00 9000 703370 PAYROLL.JOURNAL-TEBRUARY Teen Employee Mel Case le Hd CHE 1 1 3 1 13 220 Doe 13 22016 To 100 33655 45 Coco ET 34 Ph 1835 . 12911 1941 00 200 4100 STS SOSIS DSC33 1920 10000 TI Mar. 5 7 0 8 11 12 12 12 13 Received payment from Ronald Company, 55,538.00 invece No CD 1078) Paid 512.60 (including GST from petty cash fund for postage voucher No. 02 Paid Blew Company $2,543.77, cheque No 123vice No BC 1795) Received payment from Sally Stone voice Na CD 1076). $2,753.85 Pasd 55 for delivery expense from petty cash fund voucher No 03 Received amount due from Morris Company, less discount Purchased from Dress by Shelles, invoice No DS 12947 CD-01 75 @ 519 each + HST CD-0275 $19 each + HST Paid cleaning service 5300 + HST, cheque Na 124 (cheque was issued to Cleaners Inc Purchased from Blew Company, invoice No BC 1896 DI-01 20 @ $48 each + HST DS-01 20 $80 each - HST PO-01 75 512 50 each + HST PO42-5 t $125) cch + SI Sold to Bing Company, imice No. CD 1062 cost of goods sold is calculated as 75% of sales SD-015 @ $29.99 each + HST Paid CRA for income tax, CPP, and El for Februses, cheque No 125 (Note: Record as a compound entry in the cash payments journal 15 15 583 WINTING FOR AD DEUTS Mar 15 Paid CRA for HST due (net) end of February, cheque Na 15 Paid the Government of Ontario for medical peemi for the month of February, cheque No 127 18 Cash sales, summarised on invoice No CD 1083 conto goods sold is calculated at 75% of sales CD-01 30559.95 cach + HST CD-02 45 @ $59.95 each + HST CT 01 15 $30 each + HST CY.01 21 a $30 each + HST DI-01 10 $150 cach + HST DS-016 l 20 cach HST SIC-014 4 $89 each + HST WD-015 a $750 each + HST 18 Paid Jones Company amount owed (moice No JC 52157) cheque No 128 19 Bing Company received an allowance for its purchase invoice No. CD 102 Credit memo No 001 was issued. No inventory was returned 19 Paid Dresses by Shelley amount due, less 2. discount Na DS 12947), choque No 129. 20 Betty Loch withdrew 51,000 for her personal use. cheque No 130 21 Sold to Sally Store, invoice No CD 1084 D1-01 10 a $150 each + HST CD-01 0 a $559 95 cach H5T 26 Purchased from Dresses by Shelley, invoice No DS 136 CD-01 50 a $19 cach + HST CD-02 50 a $19 each + HST 28 Paid $10 from the petty cash fand for first aid emergency voucher No 04 29 Recorded and paid employees, cheques No 131, No 132 No 133 (cash payments journal) 30 Issued cheque to Jane Hell for replenishment of petty cash find cheque No 134 (compound entry in cash paymenes mal Additional Data a. Physical.count of merchandise ventory is $6,500 b. Rental income cared, $300 (one month rent from subletting received in de in February c. Depreciation (straight line Delivery truck Residual value = 51.800, expected life of 5 years Computer Residual value = $ 300, aspected life of Sycan Computer Residual vales expected life of 2 years Software d. One month of insurance has expired. " STOLT 584 CHAPTER 12 Trans 21122 Mar. 1 4 4 Puid rent cheque No 121 to Smithstone Realty: $900.00 + HST of 13% Purchased merchandise from Jones Company, invoice No JC 59087 CT-0150 a $10 each + HST CY-0150 a $10 each + HST Puod $6 from petty cash fund for doughnuts, voucher No. 01 miscellaneous expensc, NO HST). Sold merchandise on account to Morris Company, invoice Na, CD 1081 (cost of goods sold is calculated as 75% of sales betore GST): PO-015539.99 each + HST PO-025539.99 each + HST SIC-01659 each + HST Paid Dresses by Shelley 51,510.22 (invoice No DS 12895), choque No 122 PAYROLL. JOURNAL- JANUARY Provincial Cumu CPP 1 Employee Mela Jane Hall Ice M Grons Eins 1860.00 3190 000 400.00 Fed 14427 2 5552 45984 IT Pro Total 0.00 12503 3180/55 212416 68400 11 08 82 1 3 1 1 90 6000 JANUARY Chngu N CPP 9963 129 11 1981 Deductions ED Health 3097 23.00 5452 42.00 80 84 42100 Chuntable 20.00 13000 140.00 Nos Pw 1655 13 2262 32535 00515 120 33 102.00 190,00 702370 PAYROLL.JOURNAL-TEBRUARY Teen Employee Mel Case le Hd CHE 1 1 3 1 13 220 Doe 13 22016 To 100 33655 45 Coco ET 34 Ph 1835 . 12911 1941 00 200 4100 STS SOSIS DSC33 1920 10000 TI Mar. 5 7 0 8 11 12 12 12 13 Received payment from Ronald Company, 55,538.00 invece No CD 1078) Paid 512.60 (including GST from petty cash fund for postage voucher No. 02 Paid Blew Company $2,543.77, cheque No 123vice No BC 1795) Received payment from Sally Stone voice Na CD 1076). $2,753.85 Pasd 55 for delivery expense from petty cash fund voucher No 03 Received amount due from Morris Company, less discount Purchased from Dress by Shelles, invoice No DS 12947 CD-01 75 @ 519 each + HST CD-0275 $19 each + HST Paid cleaning service 5300 + HST, cheque Na 124 (cheque was issued to Cleaners Inc Purchased from Blew Company, invoice No BC 1896 DI-01 20 @ $48 each + HST DS-01 20 $80 each - HST PO-01 75 512 50 each + HST PO42-5 t $125) cch + SI Sold to Bing Company, imice No. CD 1062 cost of goods sold is calculated as 75% of sales SD-015 @ $29.99 each + HST Paid CRA for income tax, CPP, and El for Februses, cheque No 125 (Note: Record as a compound entry in the cash payments journal 15 15 583 WINTING FOR AD DEUTS Mar 15 Paid CRA for HST due (net) end of February, cheque Na 15 Paid the Government of Ontario for medical peemi for the month of February, cheque No 127 18 Cash sales, summarised on invoice No CD 1083 conto goods sold is calculated at 75% of sales CD-01 30559.95 cach + HST CD-02 45 @ $59.95 each + HST CT 01 15 $30 each + HST CY.01 21 a $30 each + HST DI-01 10 $150 cach + HST DS-016 l 20 cach HST SIC-014 4 $89 each + HST WD-015 a $750 each + HST 18 Paid Jones Company amount owed (moice No JC 52157) cheque No 128 19 Bing Company received an allowance for its purchase invoice No. CD 102 Credit memo No 001 was issued. No inventory was returned 19 Paid Dresses by Shelley amount due, less 2. discount Na DS 12947), choque No 129. 20 Betty Loch withdrew 51,000 for her personal use. cheque No 130 21 Sold to Sally Store, invoice No CD 1084 D1-01 10 a $150 each + HST CD-01 0 a $559 95 cach H5T 26 Purchased from Dresses by Shelley, invoice No DS 136 CD-01 50 a $19 cach + HST CD-02 50 a $19 each + HST 28 Paid $10 from the petty cash fand for first aid emergency voucher No 04 29 Recorded and paid employees, cheques No 131, No 132 No 133 (cash payments journal) 30 Issued cheque to Jane Hell for replenishment of petty cash find cheque No 134 (compound entry in cash paymenes mal Additional Data a. Physical.count of merchandise ventory is $6,500 b. Rental income cared, $300 (one month rent from subletting received in de in February c. Depreciation (straight line Delivery truck Residual value = 51.800, expected life of 5 years Computer Residual value = $ 300, aspected life of Sycan Computer Residual vales expected life of 2 years Software d. One month of insurance has expired. " STOLT 584 CHAPTER 12 The Corner Dress Shop Min Practice Set will help you review all the concepts of the accounting of chok over the business known as The Corner Dress Shop on January 1, 222 Bc purchased the business name and all Escocah from her Aunt Manon, w budrun it for over ten year. Certains were used by Betty new busi ne part of the deal Mini Practice Set ort Its Yuld are the bookkeeper of The Corner Dress Shop and have gathered the follow inje information. It is your task to complete the accounting cycle for March 2012 Estimated time 5 hours sior THE CORNER DRESS SHOP TRIAL BALANCE TERARY, ON cou To Deco dit to 10701 599.00 1220 2.4.30 he 16000 WH 4364 30 900 5000.00 2012 7:39:00 12/0 0.00 Pencah Neco Receive Office Supplies Prepaid Rent Prenad GST Prepaid Im Computer and Office Equipem Ae Depot Computer & Of Computer Share Sec, Deph Cute Sir Deliver Truck Ace Deplo Deliven Track Accounts Payable Income Table El Pavlic CPP Payable Medical Plan Payable Charitable Donate GST Collected Rent Received in the Berry Lach, Capital Betty Lab, Withik Sales Case of GSM 34000 4789 11 UOMO 00200 150.00 201365 oooo ME 07:30 730 000 DOGS 19073138 15102000 100 4762 20000 10 126 112 615 3D 1460.00 TT 92.9 10 115 92910 Cape El Ben Imunoce II Rent Expo Dopo Get Online Depois Dapper Debten Trick ACCOUNTING FOR BAD DEBTS 579 Balances in subsidiary ledgers as of February 28: Accounts Receivable Accounts Payable" Ronald Co $5,538.00 Blew Co. $2,543.77 Sally's Store 2,753.85 Dresses by Shelley 1,510.22 Silk Magic 735.00 Includes 51 GST Payroll is paid monthly, and employee claim codes are unchanged. The payroll register for January and February is provided on pages 582-583. In March, salaries are as follows (all deductions are the same unless indicated): Jane Holl Mel Case $ 1,860 Assume all income taxes are calculated as 20% of gross wages. 2,900 For CPP and El assume 0.0495 and 0.0188, respec- tively. (Remember to include the calculation for CPP exemption of $3,500 per year.) Jackie Moore 4,300 Required a. Set up a general ledger, accounts receivable ledger, accounts payable ledger, aux- iliary petty cash record, and payroll register. (Before beginning, be sure to update the ledger accounts on the basis of information given in the trial balance for February 28.) b. Journalize all transactions during March, using the special journals discussed in the text. Assume this company uses the perpetual inventory method. The practice set can be completed using either method of accounting for inventory. If no specific method is indicated by your instructor, use the perpetual method. Assume the cost of all inventory is 75% of its selling price. c. Prepare the payroll register for March d. Update the accounts payable and accounts receivable subsidiary ledgers for March. e. Post to the general ledger f. Prepare a trial balance on a worksheet and complete the worksheet as of March 31, 2022. g. Prepare an income statement, statement of owner's equity, and classified balance shect, h. Journalize the adjusting and closing entries. i. Post the adjusting and closing entries to the ledger. j. Prepare a post-closing trial balance. The chart of accounts for The Corner Dress Shop is provided on the next page. Chart of Accounts Assets Accounts Payable Accrued Wages 1135 1110 Cash 1115 Petty Cash 1120 Accounts Receivable Office Supplies 1140 Prepaid Rent 1145 Prepaid Insurance 1150 HST Prepaid 1210 Inventory 1330 Computer and Office Equipment 1335 Acc. Depin.-Computer & Office Equipment 1340 Computer Software 1345 Acc. Dep'n.-Computer Software 1350 Delivery Truck 1355 Acc. Dep'n.-Delivery Truck Liabilities 2100 2200 2330 Income Tas Payable 2335E Payable 2340 CPP Payable 2350 Medical Plan Payable 2360 Charitable Donations Payable HST Collected Rent Received in Advance 2400 2500 Owner's Equity 3110 Betty Loeb, Capital 3120 Betty Loeb, Withdrawals Cost of Goods Sold 5040 Cost of Goods Sold Revenue 4110 Sales 4140 Sales Discounts 4150 Sales Returns & Allowances Expenses 5400 Wages Experise 5430 Bl Expense 5440 CPP Expense 5500 Postage Expense 5510 Insurance Expense 5520 Cleaning Expense 5530 Rent Expense 5540 Delivery Expense 5550 Dep'n. Expense-Computer and Office Equipment 5560 Dep'n. Expense-Software 5570 Dep'n. Expense-Delivery Truck 5590 Accounting Expense 5595 Miscellaneous Expense Tractions 2122 Mar. 1 4 4 Paid rent cheque No 121 to Smithstone Realty, $900.00 + HST of 13% Purchased merchandise from Jones Company, invoice NoJo 5008: CT 01 50 510 each + HST CY 01 50 a $10 cach + HST Puld $6 from petty cash fund for doughnuts, voucher Na 01 miscellaneous expense, NO HST). Sold merchandise on account to Morris Company, invoice No CD 1081 (cost of goods sold is calculated as 75% of sales before GST): PO-015 @ 39.99 each + HST PHP? 5 g 89 90 cach + HST SIC-016 $49 cach + HST Paid Dresses by Shelley $1,510.22 (invoice No DS 12895), cheque No 122 Iden Claim Employee Mel C Juno Hot Jacke More PAYROLI. JOURNAL-JANUARY Provincial GO Camale CPP IT Fed IGO.CO 0427 1 2900.00 2,552 3 4300 459 IT-Prow IT-Total 000 0027 12/03 o 55 212416 00 11102 1 2000/00 JANUARY N CPP 171963 129 11 19641 Dedictions EL Health 2,800 15052 102 00 B054 4200 3099 Chantale 20.00 3000 4000 Net w 165513 22652 325075 408 15 17033 102 00 9000 703370 PAYROLL.JOURNAL-TEBRUARY Teen Employee Mel Case le Hd CHE 1 1 3 1 13 220 Doe 13 22016 To 100 33655 45 Coco ET 34 Ph 1835 . 12911 1941 00 200 4100 STS SOSIS DSC33 1920 10000 TI Mar. 5 7 0 8 11 12 12 12 13 Received payment from Ronald Company, 55,538.00 invece No CD 1078) Paid 512.60 (including GST from petty cash fund for postage voucher No. 02 Paid Blew Company $2,543.77, cheque No 123vice No BC 1795) Received payment from Sally Stone voice Na CD 1076). $2,753.85 Pasd 55 for delivery expense from petty cash fund voucher No 03 Received amount due from Morris Company, less discount Purchased from Dress by Shelles, invoice No DS 12947 CD-01 75 @ 519 each + HST CD-0275 $19 each + HST Paid cleaning service 5300 + HST, cheque Na 124 (cheque was issued to Cleaners Inc Purchased from Blew Company, invoice No BC 1896 DI-01 20 @ $48 each + HST DS-01 20 $80 each - HST PO-01 75 512 50 each + HST PO42-5 t $125) cch + SI Sold to Bing Company, imice No. CD 1062 cost of goods sold is calculated as 75% of sales SD-015 @ $29.99 each + HST Paid CRA for income tax, CPP, and El for Februses, cheque No 125 (Note: Record as a compound entry in the cash payments journal 15 15 583 WINTING FOR AD DEUTS Mar 15 Paid CRA for HST due (net) end of February, cheque Na 15 Paid the Government of Ontario for medical peemi for the month of February, cheque No 127 18 Cash sales, summarised on invoice No CD 1083 conto goods sold is calculated at 75% of sales CD-01 30559.95 cach + HST CD-02 45 @ $59.95 each + HST CT 01 15 $30 each + HST CY.01 21 a $30 each + HST DI-01 10 $150 cach + HST DS-016 l 20 cach HST SIC-014 4 $89 each + HST WD-015 a $750 each + HST 18 Paid Jones Company amount owed (moice No JC 52157) cheque No 128 19 Bing Company received an allowance for its purchase invoice No. CD 102 Credit memo No 001 was issued. No inventory was returned 19 Paid Dresses by Shelley amount due, less 2. discount Na DS 12947), choque No 129. 20 Betty Loch withdrew 51,000 for her personal use. cheque No 130 21 Sold to Sally Store, invoice No CD 1084 D1-01 10 a $150 each + HST CD-01 0 a $559 95 cach H5T 26 Purchased from Dresses by Shelley, invoice No DS 136 CD-01 50 a $19 cach + HST CD-02 50 a $19 each + HST 28 Paid $10 from the petty cash fand for first aid emergency voucher No 04 29 Recorded and paid employees, cheques No 131, No 132 No 133 (cash payments journal) 30 Issued cheque to Jane Hell for replenishment of petty cash find cheque No 134 (compound entry in cash paymenes mal Additional Data a. Physical.count of merchandise ventory is $6,500 b. Rental income cared, $300 (one month rent from subletting received in de in February c. Depreciation (straight line Delivery truck Residual value = 51.800, expected life of 5 years Computer Residual value = $ 300, aspected life of Sycan Computer Residual vales expected life of 2 years Software d. One month of insurance has expired. " STOLT 584 CHAPTER 12
