Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chart of Accounts 1 0 0 Cash 1 0 5 Accounts Receivable ( All ) 1 1 0 Supplies 1 1 5 Furniture and Equipment
Chart of Accounts
Cash
Accounts Receivable All
Supplies
Furniture and Equipment
Accounts Payable All
Bank Loan
HST Payable
HST Recoverable
K Goldberg, Capital
K Goldberg, Drawings
Fees Earned
Utilities Expense
Bank Charges
Rent Expense
Transactions
March Cheque # paid monthly rent of $
March Purchase Invoice # bought hair salon supplies on account from Johnsons for $ plus HST
Sales Invoice # M Swatakzy, performed a haircut for M Swatazky on account for $ plus HST
March Bank Debit Memo from the bank for service charges of $
Cheque # paid Samson Beauty Supplies $ on account
March $ monthly automatic payment on the bank loan is transferred from the bank account
March The owner withdrew $ worth of the business furniture and took it home for his personal use
Purchase Invoice # from Union Energy for natural gas on account $ plus HST
March Owner deposited $ in business bank account from personal funds additional investment in the business
March Filed HST return to government for the month of February. Enclosed Cheque # for the remittance. HST Payable Balance $HST Recoverable Balance $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Answer The provided information details the chart of accounts and transactions for K Goldberg a hair ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started