Font Paragraph Onestion continuar Onestional There is only equi! The following transactions relate to Kem Company: Jan. 15 luued a cheque to the Receiver General of Canada for remitance of the employee deduction Jan. 15 Issued a cheque to the local unice for the mendors withheld in Dember Jan 15 Tused a cheque to the Receiver General of Canada for remitance of the GST owing Jan 15 Invede cheque to the Treasurer of Oulusso fosemittance of the PST ewing Paid the notes dated October 12. 2007. November 16, 2007 and December 18.2007 (You will have to correctly date these al entries! Jam 1 Purchased a machine from Jack Deere Ine, by spring 560.000. 5 yearste payable has terest 8% (per annum) Interest is payable each December 31st Cenere GST and PST for this traction) Oct 12 Gare Devis Company $2,500 cash and a $7.500,90 daynote payable plos interest 10% (per eum to secure an extension of the past due account payable Nov. 16 Borrowed $10,000 from the Bank of Nova Scotia by signing a 510,000, 60-day sote payable plus interest peram Dec 1 Entered into a contract to provide delivery services for a customer S300 per morth Received payment for the month of December, Janney and February more GST and PST for this transaction) Dec 18 Purchased inventory from CBC Limited by signing a 90 day, ble plus interest (peam). The cost of the very purchased was $24,000 plus GST 20% Dec 23 Sold merchandise on credit to John Dee, terme 210, 30, in the amount of $25,000 GST Rated PST 8 The cost of the merchandise inventory cold wm $15.000 Dec 28 Racended the information from the payroll journal for the month of December and recorded the employer's portion of the payroll deduction. The last pay-date December December 28) GW CPP withheld 26172 El withheld 249 92 lacom Tex with 1.96000 Union Dues withheld 92.00 Nel Pos 6.692.36 De 31 Paid the interest or on the sole payable dated Juary 1, 2007 Dec 31 Prepared all new year-end adjusting entries (More on the back of this page! Resized (1) Prepare journal entries to record all of the above transaction. Bewareto nige dates to all of the enties Pepee the Counction of the Balance Sheet for Ken Company December 31, 2007 TUM, AaBbce Arbeca ABC ABECEDA ABECED! AaBbcc ABCD AaBbC ACCD Heading 1 Heading 2 Heading Normal To Sac Heading) Heading Styles Port = Question continued) 2005 Jan. 15 fraud a cheque to the Receiver General of Canada deductions Jan. 15 Issued a cheque to the local union for the union due Jan. 15 laurda cheque to the Receiver General of Canada Jan. 15 Issued a cheque to the Treasurer of Ontario for reme (j Question (There is only one question!) The following transactions relate to Kern Company 2002 Jan. 1 Purchased a machine from Jack Deere Inc., by signing a $60,000, 5 year note payable plus interest @ 8% (per annum). Interest is payable each December 31st (Ignore GST and PST for this transaction) Oct. 12 Gave Davies Company $2,500 cash and a $7,500, 90 day note payable plus interest 10% (per annum), to secure an extension of their past due account payable Nov. 16 Borrowed $10,000 from the Bank of Nova Scotia by signing a $10,000, 60-day note payable plus interest @ 9% (per annum), Dec. Entered into a contract to provide delivery services for a customer at $300 per month Received payment for the month of December, January and February (lemore GST and PST for this transaction) Dec. 18 Purchased inventory from CBC Limited by signing a 90 day, matepavable plus interest 7% (per annum). The cost of the inventory purchased was $24,000 plus GST 26% Dec 23 Sold merchandise on credit to John Doe terme 210, 30, in the amount of $25,000 ulus GST 6% and PST 8%. The cost of the merchandise inventory sold was $15,000 Dec 28 Recorded the information from the payroll journal for the month of December and recorded the employers portion of the payroll deductioll. (Tue bailey Bute i December was December 28) Paid the notes dated October 12, 2007. November 1 (You will have to correctly date these journal entrie Reanimed (1) Prepare journal entries to record all of the above transact of the entries Prepare the "Current Liabilities" section of the Balances December 31, 2007 U Jan. 15 Issued a cheque to the local unice for the mion du Jan. 15 used a cheque to the Receiver General of Canada Jan. 15 Issued a cheque to the Treasurer of Ontario for remi III Paid the notes dated October 12, 2007, November! (You will have to correctly date these journal entrie Seper man interests payable eacn December toes and PST for this transaction) Oct 12 Gave Davies Company $2.500 cash and a $7,500, 90 day note payable plus interest 10% (per annum). to secure an extension of their past due account payable. Nov. 16 Borrowed $10,000 from the Bank of Nova Scotia by signing a $10,000, 60-day note payable plus interest (per) Dec 1 Entered into a contract to provide delivery services for a customer at $300 per month Received payment for the months of December, January and February (Ignore GST and PST for this transaction) Dec. 18 Purchased inventory from CBC Limited by signing a 90 day, note payable phos interest @ 7% (per annum). The cost of the inventory purchased was 524.000 plus GST 26% Dec 23 Sold merchandise on credit to John Doe terme 2/10, 1/30, in the amount of $25.000 plus GST 6% and PST @ 8% The cost of the merchandise inventory sold was $15.000 Dec 28 Recorded the information from the payroll journal for the month of December and recorded the employer's portion of the payroll deductions. (The last pay-date in December was December 28) Gross Wages 59.256.00 CPP withheld 26172 El withheld 249.92 Income Tax withheld 1.950.00 Union Dues withheld 92.00 Net Pay 6,692.16 Dec 31 Paid the interest due on the note payable dated January 1, 2007 Dec 31 Prepared all necessary year-end adjusting entries Required: (I) Prepare journal entries to record all of the above transact of the entries Prepare the "Current Liabilitats" section of the Balance December 31, 2007 C) U 2008 3 560,000.5 year note payable ach December 31st (pore GST day note payable plus interest due account payable agning a $10,000, 60-day note Sa. 15 Tsued a cheque no the Receiver General of Canada for remittance of the employee Jan. IS Issued a cheque to the local unica for the mica dues withheld in December San. 15 Tuwed a cheque to the Receiver General of Canada for remittance of the GST owing Jan. 15 Issued a cheque to the Treasures of Ontario fox remittance of the PST owing Paid the notes dated October 12, 2007. November 16, 2007 and December 18, 2007 (You will have to correctly date these joumal entries) ca customer at $300 per month try and February (gnore GST 90 day, note pale plus purchased was $24,000 plus GST (1) Prepare journal entries to record all of the above transactions. Be sure to assign dates to all of the entries (2) Prepare the "Current Liabilities" section of the Balance Sheet for Kem Company as at December 31, 2007 230in the amount of $25,000 chandise inventory sold was the month of December ind ions (The last pay-date in U David Li's screen Font Paragraph Onestion continuar Onestional There is only equi! The following transactions relate to Kem Company: Jan. 15 luued a cheque to the Receiver General of Canada for remitance of the employee deduction Jan. 15 Issued a cheque to the local unice for the mendors withheld in Dember Jan 15 Tused a cheque to the Receiver General of Canada for remitance of the GST owing Jan 15 Invede cheque to the Treasurer of Oulusso fosemittance of the PST ewing Paid the notes dated October 12. 2007. November 16, 2007 and December 18.2007 (You will have to correctly date these al entries! Jam 1 Purchased a machine from Jack Deere Ine, by spring 560.000. 5 yearste payable has terest 8% (per annum) Interest is payable each December 31st Cenere GST and PST for this traction) Oct 12 Gare Devis Company $2,500 cash and a $7.500,90 daynote payable plos interest 10% (per eum to secure an extension of the past due account payable Nov. 16 Borrowed $10,000 from the Bank of Nova Scotia by signing a 510,000, 60-day sote payable plus interest peram Dec 1 Entered into a contract to provide delivery services for a customer S300 per morth Received payment for the month of December, Janney and February more GST and PST for this transaction) Dec 18 Purchased inventory from CBC Limited by signing a 90 day, ble plus interest (peam). The cost of the very purchased was $24,000 plus GST 20% Dec 23 Sold merchandise on credit to John Dee, terme 210, 30, in the amount of $25,000 GST Rated PST 8 The cost of the merchandise inventory cold wm $15.000 Dec 28 Racended the information from the payroll journal for the month of December and recorded the employer's portion of the payroll deduction. The last pay-date December December 28) GW CPP withheld 26172 El withheld 249 92 lacom Tex with 1.96000 Union Dues withheld 92.00 Nel Pos 6.692.36 De 31 Paid the interest or on the sole payable dated Juary 1, 2007 Dec 31 Prepared all new year-end adjusting entries (More on the back of this page! Resized (1) Prepare journal entries to record all of the above transaction. Bewareto nige dates to all of the enties Pepee the Counction of the Balance Sheet for Ken Company December 31, 2007 TUM, AaBbce Arbeca ABC ABECEDA ABECED! AaBbcc ABCD AaBbC ACCD Heading 1 Heading 2 Heading Normal To Sac Heading) Heading Styles Port = Question continued) 2005 Jan. 15 fraud a cheque to the Receiver General of Canada deductions Jan. 15 Issued a cheque to the local union for the union due Jan. 15 laurda cheque to the Receiver General of Canada Jan. 15 Issued a cheque to the Treasurer of Ontario for reme (j Question (There is only one question!) The following transactions relate to Kern Company 2002 Jan. 1 Purchased a machine from Jack Deere Inc., by signing a $60,000, 5 year note payable plus interest @ 8% (per annum). Interest is payable each December 31st (Ignore GST and PST for this transaction) Oct. 12 Gave Davies Company $2,500 cash and a $7,500, 90 day note payable plus interest 10% (per annum), to secure an extension of their past due account payable Nov. 16 Borrowed $10,000 from the Bank of Nova Scotia by signing a $10,000, 60-day note payable plus interest @ 9% (per annum), Dec. Entered into a contract to provide delivery services for a customer at $300 per month Received payment for the month of December, January and February (lemore GST and PST for this transaction) Dec. 18 Purchased inventory from CBC Limited by signing a 90 day, matepavable plus interest 7% (per annum). The cost of the inventory purchased was $24,000 plus GST 26% Dec 23 Sold merchandise on credit to John Doe terme 210, 30, in the amount of $25,000 ulus GST 6% and PST 8%. The cost of the merchandise inventory sold was $15,000 Dec 28 Recorded the information from the payroll journal for the month of December and recorded the employers portion of the payroll deductioll. (Tue bailey Bute i December was December 28) Paid the notes dated October 12, 2007. November 1 (You will have to correctly date these journal entrie Reanimed (1) Prepare journal entries to record all of the above transact of the entries Prepare the "Current Liabilities" section of the Balances December 31, 2007 U Jan. 15 Issued a cheque to the local unice for the mion du Jan. 15 used a cheque to the Receiver General of Canada Jan. 15 Issued a cheque to the Treasurer of Ontario for remi III Paid the notes dated October 12, 2007, November! (You will have to correctly date these journal entrie Seper man interests payable eacn December toes and PST for this transaction) Oct 12 Gave Davies Company $2.500 cash and a $7,500, 90 day note payable plus interest 10% (per annum). to secure an extension of their past due account payable. Nov. 16 Borrowed $10,000 from the Bank of Nova Scotia by signing a $10,000, 60-day note payable plus interest (per) Dec 1 Entered into a contract to provide delivery services for a customer at $300 per month Received payment for the months of December, January and February (Ignore GST and PST for this transaction) Dec. 18 Purchased inventory from CBC Limited by signing a 90 day, note payable phos interest @ 7% (per annum). The cost of the inventory purchased was 524.000 plus GST 26% Dec 23 Sold merchandise on credit to John Doe terme 2/10, 1/30, in the amount of $25.000 plus GST 6% and PST @ 8% The cost of the merchandise inventory sold was $15.000 Dec 28 Recorded the information from the payroll journal for the month of December and recorded the employer's portion of the payroll deductions. (The last pay-date in December was December 28) Gross Wages 59.256.00 CPP withheld 26172 El withheld 249.92 Income Tax withheld 1.950.00 Union Dues withheld 92.00 Net Pay 6,692.16 Dec 31 Paid the interest due on the note payable dated January 1, 2007 Dec 31 Prepared all necessary year-end adjusting entries Required: (I) Prepare journal entries to record all of the above transact of the entries Prepare the "Current Liabilitats" section of the Balance December 31, 2007 C) U 2008 3 560,000.5 year note payable ach December 31st (pore GST day note payable plus interest due account payable agning a $10,000, 60-day note Sa. 15 Tsued a cheque no the Receiver General of Canada for remittance of the employee Jan. IS Issued a cheque to the local unica for the mica dues withheld in December San. 15 Tuwed a cheque to the Receiver General of Canada for remittance of the GST owing Jan. 15 Issued a cheque to the Treasures of Ontario fox remittance of the PST owing Paid the notes dated October 12, 2007. November 16, 2007 and December 18, 2007 (You will have to correctly date these joumal entries) ca customer at $300 per month try and February (gnore GST 90 day, note pale plus purchased was $24,000 plus GST (1) Prepare journal entries to record all of the above transactions. Be sure to assign dates to all of the entries (2) Prepare the "Current Liabilities" section of the Balance Sheet for Kem Company as at December 31, 2007 230in the amount of $25,000 chandise inventory sold was the month of December ind ions (The last pay-date in U David Li's screen