7. Harbour Golf Links is owned by Shirley Ngakien. She operates the par- three golf course and driving range. The trial balance of the business on September 30, 20-is shown on the next page, Harbour Golf Links charges 13% HST on all sales, rentals, and food items. HARBOUR GOLF LINKS TRIAL BALANCE SEPTEMBER 30, 20- Account Na Cred 101 105 110 115 120 125 130 87520 102236 32/6 5.25 225.00 265 128040 30956 22651060 201 120 000 250 50 18 9065 38210 11065 2.7 7 50 Bank Supplies - Golf Course Supplies - Office Property Buildings Automotive Equipment Maintenance Equipment Bank Loan A/P-Blair's Automotive AP - Main Supply AP - Pro Equipment HST Payable HST Recoverable Mortgage Payable Shirley Ngakien, Capital Shirley Ngakien, Drawings Revenue - Golf Revenue - Food Automotive Expense Bank Charges Expense Maintenance Expense Miscellaneous Expense Mortgage Interest Expense Telephone Expense Utilities Expense Wages Expense 205 210 215 220 225 230 301 305 401 405 501 505 510 515 520 1700 old 142012 746 27 blolo- 8998250 2387575 894452 78.4225 158/4628 152575 6375 - 1 028 33 9217568 4554795 55267 96 525 530 535 55267396 A. Journalize and post the transactions below for the month of October. Use page 28 of the journal. TRANSACTIONS October 2 Cheque Copy No. 652, cash purchase of miscellaneous expense item, $232.50 plus HST of $30.23, total $262.73. 4 Purchase Invoice From Main Supply for fertilizer, $1425.30 plus HST of $185.29, total $1610.59 5 Bank Debit Memo Bank charges and loan interest for September, $825.17. 7 Cheque Copy No. 653, for wages for the week, $1225.00 (For simplicity, normal payroll deductions are not considered.) 8 Cash Receipts Cash receipts for previous week, golf $3006.00, food $735.00, plus HST of $486.33, total $4227.33. 9 Cheque Copy No, 654, to Main Supply, payment of debt owing, $1890.65. 10 Purchase Invoice From Blair's Automotive for truck repairs, $330.00 plus HST of $42.90, total $372.90. 11 Purchase Invoice From Pro Equipment for golf supplies, $264.60 plus HST of $34.40, total $299.00 13 Cheque Copy No. 655, to the owner, for personal use, $1500.00 14 Cheque Copy No. 656. for wages for the week, $1175.00. 15 Cash Receipts Cash receipts for previous week, golf $2880.00, food $705.00, plus HST of $466.05, total $4051.05. 15 Electronic Funds Transfer Through the online banking site, paid $5000 to reduce the principal amount of the bank loan. confirmation number 654008A. 17 Purchase Invoice From Pro Equipment for repairs to lawn mowers, $600.00 plus HST of $78.00, total $678.00. 18 Cheque Copy No. 657, to Roger's Automotive for repair to the business vehicle, $842.25 plus HST of $109.49, total 8951.74. 20 Cheque Copy No. 658, to Greco Investments, for mortgage payment, mortgage interest $779.16, loan reduction 81000.00, total $1779.16. 21 Cheque Copy No. 659, for wages for the week, $1225.00. 22 Cash Receipts Cash receipts for the previous week, golf $3300.00, food $750.22, plus HST of 8526.63, total $4576.75. 23 Cheque Copy No. 660, to Pro Equipment, for partial payment of debt owing, $2000.00. 24 Purchase Invoice From Main Supply, for office supplies, $142.50 plus HST of $18.53, total $161.03 25 Purchase Invoice From Blair's Automotive, for auto equipment repairs, $135.00 plus HST of $56.55, total $491.55. 26 Cheque Copy No. 661, for the wages for the week, 81195.00. 28 Cheque Copy No. 662, for the cash purchase of miscellaneous expense item, $127.50 plus HST of $16.68, total $144.08. 29 Cash Receipts Cash receipts for the previous week, golf $3015.00, food $870.45, plus HST of $505.11, total $4390.56. 30 Cheque Copy No. 663, cash payment for heat and electricity for the month, $899.52 plus HST of $116.94, total $1016.46. 31 Cheque Copy No. 664, cash payment for cellular telephone service for the month, $212.50 plus HST of $27.63, total $240.13. 31 Cheque Copy No. 665, to the owner, for personal use, $1400.00. 31 Cheque Copy No. 666, to the Receiver General, paying the net HST for Septem- ber, $787.50. B. Balance the ledger by means of a trial balance. C. Prepare an income statement for the 10 months ended October 31. D. Prepare a balance sheet for October 31. Use Figure 5.8 on page 155 as your guide. 7. Harbour Golf Links is owned by Shirley Ngakien. She operates the par- three golf course and driving range. The trial balance of the business on September 30, 20-is shown on the next page, Harbour Golf Links charges 13% HST on all sales, rentals, and food items. HARBOUR GOLF LINKS TRIAL BALANCE SEPTEMBER 30, 20- Account Na Cred 101 105 110 115 120 125 130 87520 102236 32/6 5.25 225.00 265 128040 30956 22651060 201 120 000 250 50 18 9065 38210 11065 2.7 7 50 Bank Supplies - Golf Course Supplies - Office Property Buildings Automotive Equipment Maintenance Equipment Bank Loan A/P-Blair's Automotive AP - Main Supply AP - Pro Equipment HST Payable HST Recoverable Mortgage Payable Shirley Ngakien, Capital Shirley Ngakien, Drawings Revenue - Golf Revenue - Food Automotive Expense Bank Charges Expense Maintenance Expense Miscellaneous Expense Mortgage Interest Expense Telephone Expense Utilities Expense Wages Expense 205 210 215 220 225 230 301 305 401 405 501 505 510 515 520 1700 old 142012 746 27 blolo- 8998250 2387575 894452 78.4225 158/4628 152575 6375 - 1 028 33 9217568 4554795 55267 96 525 530 535 55267396 A. Journalize and post the transactions below for the month of October. Use page 28 of the journal. TRANSACTIONS October 2 Cheque Copy No. 652, cash purchase of miscellaneous expense item, $232.50 plus HST of $30.23, total $262.73. 4 Purchase Invoice From Main Supply for fertilizer, $1425.30 plus HST of $185.29, total $1610.59 5 Bank Debit Memo Bank charges and loan interest for September, $825.17. 7 Cheque Copy No. 653, for wages for the week, $1225.00 (For simplicity, normal payroll deductions are not considered.) 8 Cash Receipts Cash receipts for previous week, golf $3006.00, food $735.00, plus HST of $486.33, total $4227.33. 9 Cheque Copy No, 654, to Main Supply, payment of debt owing, $1890.65. 10 Purchase Invoice From Blair's Automotive for truck repairs, $330.00 plus HST of $42.90, total $372.90. 11 Purchase Invoice From Pro Equipment for golf supplies, $264.60 plus HST of $34.40, total $299.00 13 Cheque Copy No. 655, to the owner, for personal use, $1500.00 14 Cheque Copy No. 656. for wages for the week, $1175.00. 15 Cash Receipts Cash receipts for previous week, golf $2880.00, food $705.00, plus HST of $466.05, total $4051.05. 15 Electronic Funds Transfer Through the online banking site, paid $5000 to reduce the principal amount of the bank loan. confirmation number 654008A. 17 Purchase Invoice From Pro Equipment for repairs to lawn mowers, $600.00 plus HST of $78.00, total $678.00. 18 Cheque Copy No. 657, to Roger's Automotive for repair to the business vehicle, $842.25 plus HST of $109.49, total 8951.74. 20 Cheque Copy No. 658, to Greco Investments, for mortgage payment, mortgage interest $779.16, loan reduction 81000.00, total $1779.16. 21 Cheque Copy No. 659, for wages for the week, $1225.00. 22 Cash Receipts Cash receipts for the previous week, golf $3300.00, food $750.22, plus HST of 8526.63, total $4576.75. 23 Cheque Copy No. 660, to Pro Equipment, for partial payment of debt owing, $2000.00. 24 Purchase Invoice From Main Supply, for office supplies, $142.50 plus HST of $18.53, total $161.03 25 Purchase Invoice From Blair's Automotive, for auto equipment repairs, $135.00 plus HST of $56.55, total $491.55. 26 Cheque Copy No. 661, for the wages for the week, 81195.00. 28 Cheque Copy No. 662, for the cash purchase of miscellaneous expense item, $127.50 plus HST of $16.68, total $144.08. 29 Cash Receipts Cash receipts for the previous week, golf $3015.00, food $870.45, plus HST of $505.11, total $4390.56. 30 Cheque Copy No. 663, cash payment for heat and electricity for the month, $899.52 plus HST of $116.94, total $1016.46. 31 Cheque Copy No. 664, cash payment for cellular telephone service for the month, $212.50 plus HST of $27.63, total $240.13. 31 Cheque Copy No. 665, to the owner, for personal use, $1400.00. 31 Cheque Copy No. 666, to the Receiver General, paying the net HST for Septem- ber, $787.50. B. Balance the ledger by means of a trial balance. C. Prepare an income statement for the 10 months ended October 31. D. Prepare a balance sheet for October 31. Use Figure 5.8 on page 155 as your guide
