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do note hand writing plz Leon Cheng is a sole proprietor providing accounting services in the province of British Columbia, where PST is charged at
do note hand writing plz
Leon Cheng is a sole proprietor providing accounting services in the province of British Columbia, where PST is charged at the rate of 7% and GST is at the rate of 5%. Transactions for the business are shown below: June 1 Paid cash to a local courier for the delivery of documents to several clients. The invoice was for $275 plus GST and PST. 5 Paid $760 cash plus GST and PST to have the office painted. Use the Repairs Expense account. 10 Purchased photocopy paper for $320 from a local stationery store, on account. The store added the appropriate sales taxes to the purchase price. 13 Billed a client for accounting services provided. The fee charged was $4,100 and the appropriate sales taxes were added to the fee billed. 15 Collected $784 on account. This included accounting services of $700, GST of $35, and PST of $49. 22 Paid $810 cash plus applicable taxes to Air Canada for an airline ticket to Ottawa to meet with a client. Airfare is subject to both PST and GST. 30 Received invoice from TELUS for telephone service for the month of June. The invoice is for $230 plus GST and PST. 30 Paid the quarterly remittance of GST to the Receiver General. The balances in the accounts were as follows: GST Payable $1,780.50 and GST Recoverable $745.60. 30 Paid the quarterly remittance of PST to the Minister of Revenue for the province of British Columbia. The balance in the PST Payable account was $2,530. Prepare the journal entries to record these transactions on the books of Leon Cheng's accounting business. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 5,275.25. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit June 1 June 5 June 10 June 10 June 13 June 15 June 22 June 30 (To record telephone services payable.) June 30 (Record GST remittance.) June 30 Accounts Payable Accounts Receivable Cash Cost of Goods Sold Delivery Expense Equipment Freight in Freight Out Furniture GST Payable GST Recoverable HST Payable HST Recoverable Merchandise Inventory Office Expense Prepaid Rent PST Payable Purchase Returns and Allowances Purchases QST Payable QST Recoverable Rent Expense Repairs Expense Sales Sales Returns and Allowances Service RevenueStep by Step Solution
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