journal entries,trial balance and t accounts

.

2016

Oct. 1 Betty Cardinal invested $20,000 in the bookstore.

1 Paid three months' rent in advance, cheque No. 121,

$2,700, plus GST.

3 Purchased merchandise from Milligan Book Company on account, $4,270, plus GST. Invoice No. 410, dated October 2, terms 2/10, n/30.

3 Sold merchandise to First City Library on account, plus GST. Invoice No. 781, terms 2/10, n/30.

7 Sold merchandise to District College on account, $3,160, plus GST. Invoice No. 782, terms 2/10, n/30.

8 Purchased merchandise from Milligan Book Co. on account, $2,940, plus GST. Invoice No. 415, dated October 8, terms 2/10, n/30.

-6.

apprfor GST

opnate. $900.00

Paid to Vertal R. d Betty CardinaNo. 473.

newlyhiredalrunsCard' al' B at % ccounta

13

h.

c.

d.

Assets

110 Cash

120 Accounts Receivable 135 Prepaid Rent

138 Prepaid GST/HST 180 Delivery Truck

Liabilities

210 Accounts Payable 218 GST/HST Payable

Owner's Equity

310 B. Cardinal, Capital

Revenue

410 Book Sales

412 Sales Returns and Allowances 414 Sales Discounts

Cost of Goods

510 Book Purchases

512 Purchases Returns and Allowances 514 Purchases Discounts

Expenses

615 Cleaning Expense 650 Salaries Expense

$2,465

SPECIAL JOURNALS WITH TAXES

N. 47i-$364::sTtony Plain Utility Co., cheque

30

t, _Your tak ts to do the followmg (substituting HST at 5 1/o if your mstructor so directs):

Co., no discount, cheque Journalize the transactions for the month of October.

In s ok Shop 1fl a downt_ own loction. As her Total, rule, and cross-add the journals.

Record o subsidiary ledgers and post to the general ledger as payable as of October 31, 2016.

Prepare a schedule of accounts receivable and a schedule of accounts The following is the partial chart of accounts for Cardinal's Book Shop: