Question
Hello I need help entering these transactions into QuickBooks premier addition cad 2020 9. The following transactions take place in March: Day Description Source 1
Hello I need help entering these transactions into QuickBooks premier addition cad 2020
9. The following transactions take place in March: Day Description Source 1 Paula Pollacks initial investment $30,000 of her savings and deposited it in an account for the business at the venture Bank, Port Peter on March 1. (Use a Journal Entry to Debit $30,000 to Chequing, Venture Bank and Credit $30,000 to P Pollack, Capital.) Paula registered for GST to be reported quarterly, and Tax rate is GST 5%, and HST 1
2 Purchased cameras and photographic equipment for cash from Kodak $10,000 (Plus HST). Chq 1345 3 Paula took portraits of 25 kindergarten children at Little Steps Primary School; 15 purchased the Basic Portrait Package and 10 purchased the Supersaver Portrait Package. Paula received payment in full. Sales Receipt 1 3 Create Deposit 4 Paid rent on studio to Judy-Joe Real Estate for one month $1250 (plus GST) Chq 1346 4 Bought photographic materials from photographic Suppliers $2300 (Plus HST) Chq1347 5 Paid Kwik Print for Advertising Brochures to be printed $4,200 (Plus HST) Chq1348 6 Paula took school photos at Port Peter Primary School; 75 students purchase the Basic Portrait Package and 15 purchased the Supersaver Portrait Package. Paula received payment in full. Sales receipt 2 7 Make deposit 7 Paid for Gas $70 (Plus HST) at the Esso station Chq 1349 7 Bought photographic equipment on credit from Eastman Ltd $5,000 (Plus HST) Terms Net 30 Inv E 444 8 Paid Registration and Insurance on Motor Vehicle to Vic Roads $420 (plus HST) Chq 1350 11 Paid for six months insurance on equipment $300 to Norfolk Union Insurance. Expense one months insurance and set up other five months in Prepaid Insurance. Chq 1351 12 Paula drew $500 cash for her own use Chq 1352
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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