Peter s Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred
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Peters Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in October of the current year: Peter's Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in
October of the current year:
a ?Peter's collected $ ?from customers for games played in October.
b ?Peter's sold curling equipment inventory for $; received $ ?in cash and the rest on account; the cost of sales is
$
c ?Peter's received $ ?from customers on account who purchased merchandise in September.
d ?The curling league gave Peter's a deposit of $ ?for the upcoming fall season.
e ?Peter's paid $ ?for the September electricity bill and received the October bill for $ ?which will be paid in
November.
f ?Peter's paid $ ?to employees for work in October.
g ?Peter's purchased and paid $ ?in insurance for coverage from October ?to December
h ?Peter's paid $ ?to plumbers for repairing a broken pipe in the washrooms. Required:
Prepare a statement of earnings for Peter's Curling Inc. for the month of October of the current year. Use an income tax rate of
percent.
Answer is complete but not entirely correct.
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