Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

create a journal entryChart of Accounts 1 0 0 Cash 1 0 5 Accounts Receivable ( All ) 1 1 0 Supplies 1 1 5

create a journal entryChart of Accounts
100 Cash
105 Accounts Receivable (All)
110 Supplies
115 Furniture and Equipment
200 Accounts Payable (All)
205 Bank Loan
210 HST Payable
215 HST Recoverable
300 K. Goldberg, Capital
305 K. Goldberg, Drawings
400 Fees Earned
500 Utilities Expense
505 Bank Charges
510 Rent ExpenseTransactions
March 1 Cheque #30, paid monthly rent of $900
March 2 Purchase Invoice #100, bought hair salon supplies on account from Johnsons for $340 plus HST
Sales Invoice #60, M. Swatakzy, performed a haircut for M. Swatazky on account for $35 plus HST
March 3 Bank Debit Memo from the bank for service charges of $35
Cheque #31, paid Samson Beauty Supplies $113 on account
March 4 $400 monthly automatic payment on the bank loan is transferred from the bank account
March 5 The owner withdrew $700 worth of the business furniture and took it home for his personal use
Purchase Invoice #100 from Union Energy for natural gas on account $170 plus HST
March 6 Owner deposited $400 in business bank account from personal funds (additional investment in the business)
March 7 Filed HST return to government for the month of February. Enclosed Cheque #32 for the remittance. (HST Payable Balance $1306.50)(HST Recoverable Balance $644.34) I need to know what numbers to put and credit side or debit side here is the instructions Task 1: Complete the journal entries for the transactions posted here. The Journal template has been created for you and is posted below along with the transactions, along with a list of account names for you to use.so create a journal entries including all the transactions
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics, Accounting And The True Nature Of Capitalism Capitalis Ecology And Democracy

Authors: Jacques Richard, Alexandre Rambaud

1st Edition

1032046589, 9781032046587

More Books

Students also viewed these Accounting questions