Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need the transactions to be journalized. i will need step by step explanations plus answers thanks. Chapter 3 AP 4A Take me to the

image text in transcribed

i need the transactions to be journalized. i will need step by step explanations plus answers thanks.

Chapter 3 AP 4A Take me to the text Purch Living sells door Purniture and accessories operates in a province which has a 7% PST 5% GST. Purch thing charges PST and GST to their cartoni ar pays stand GST on most purchses except for inventory Porch Living only pay G transtorns occurred during May 2020, May 2 Archased inventory for 55.000 plus GST on court Mays Sold mentory to santomer to $2.000 ph GST and PST on contentory conta 31200 May 12 Purchased $300 worth of office supplies plus GST PST innh May 25 Sold Inventory to come for 56.000 px GST PST for henventory cont 51200 May 27 Received the total amount osing from the tome from Mays May 26 Paid the applies from May 2 the amount owing May 31 Prepared the ST remittance to the provincial gouemment May 31 Prepared the GST remittance to the federal government Record the tractions to May 2020 Do not enter dollar som om in the ind boxes Round all answer to the newest whole dollar Foz tactions that we methodou more than me sienter the accounts in alphabetical order Date Account Title and Explanation Debit Credit May 2 GST Raroverable 250 Merchandise Inventory sex Accounts Payable 5250 Archistory out Moys Aeroun > 100 ST 100 Sleeve 2000 1200 1200

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

International Standards On Auditing An Institutional Driver For Audit Quality

Authors: Dries Schockaert

1st Edition

2874035467, 978-2874035463

More Books

Students also viewed these Accounting questions