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task 5 need answered Task 5 20 Marks The following transactions occurred for Happy Life Ltd. during September. 2018 Transaction details 1 Sept 2 Sept
task 5 need answered
Task 5 20 Marks The following transactions occurred for Happy Life Ltd. during September. 2018 Transaction details 1 Sept 2 Sept Sold goods to A Smith on credit $5,753 including GST Cash sales $3,300 including GST Cash purchase of goods from F Bianchi $1,034 including GST 2 Sept 3 Sept Purchased printer for use in the business on credit from Office Supplies $990 including GST 6 Sept 7 Sept 9 Sept 13 Sept 15 Sept 20 Sept 22 Sept Paid Wages $1,500 Cash sales $5,940 including GST Damaged goods returned from A Smith $550 Sold Computer on credit to B Jones $1,100 including GST Paid electricity $1,815 to Oz Energy, including GST Received $5,203 from A Smith on account. Credit purchases from P Gibson $4,180 including GST Credit purchases from E Egg $2,640 including GST Sold goods on credit to C Cat $1,540 including GST Cash sales $3,740 including GST Paid Office Supplies $990 for amount owing on their account Returned damaged goods to E Egg $440 including GST 24 Sept 24 Sept 28 Sept 30 Sept 30 Sept Required: 1. Record the transactions into the Cash Receipts, Cash Payments, Sales Distribution and Purchases Distribution Journals of Happy Life Ltd for the month of September 2018. 2. Total the journals at the end. Notes: 1) Happy Life Ltd is registered for GST and all amounts include GST, if applicable. 2) Happy Life Ltd is not in the business of selling computers. The computer sold was an asset of the business. 3) For the purpose of this question only, assume the business uses a Periodic Inventory system. 4) Inv/CN No and cheque numbers are not required. Folios are also not required. onurinn
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