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Question 1 Company H purchased $10,000 +gst (5%) of inventory on account. Assume perpetual system date description DR CR Company H sold inventory to a
Question 1 Company H purchased $10,000 +gst (5%) of inventory on account. Assume perpetual system date description DR CR Company H sold inventory to a customer on account for $20,000, + GST(5%) + PST (8%). Inventory was worth $8,000 (assume perpetual system) date description DR CR e 1 5 7 B company A remitted GST and PST owing to the government date description DR CR . 5 5 Question 2 Company I purchased $8,750 +HST (13%) of inventory on account. Assume perpetual system date description DR CR - Company B sold inventory to a customer on account for $15,500, + HST(13%). Inventory was worth $7,300 (assume perpetual system) date description DR CR company B remitted HST owing to the government date description DR CR
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