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The following transactions occurred during June 2 0 2 3 and are INCLUSIVE of GST where appropriate. 2 0 2 3 June 1 Scallion Ltd
The following transactions occurred during June and are INCLUSIVE of GST where appropriate.
June Scallion Ltd shareholders invested $ cash in the business.
Purchased land and an existing retail store for $ of which $ is considered land cost. Paid $ by cheque no for the retail store and signed a mortgage payable for the balance. The retails store is depreciated over its useful life of years.
Paid Lynwood Ltd $ less a discount of $ with cheque no
Received cheque from M Biller for $ as part payment of his account
Purchased store furniture on credit terms from Corma Ltd for $ terms n
Purchased inventory on credit terms from Tumult Ltd $; invoice date June, terms n
Purchased a year fire insurance policy for $ cheque no
Sent cheque no to Tumult Ltd in full settlement of May invoice
Purchased inventory for $ cheque no
Paid Lynwood Ltd $ cheque no for balance owing on May account.
Returned unsatisfactory goods to Tumult Ltd and received a credit note for $
Sold inventory to M Biller on account, $; invoice no terms n
O Mowen paid his account in full.
Paid Tumult Ltd amount due for June invoice, cheque no
Cash sales for period to June were recorded today, $
Sold inventory to O Mowen on account $; invoice no terms n
Paid salaries for period to June totaling $ cheque no
M Biller paid the balance of his May invoice.
Purchased inventory on credit terms, from Lynwood Ltd $; invoice date June, terms n
Sent cheque, no to Dyson Ltd in full settlement of the account.
Received account for $ from M Parson for items chargeable to office expenses, terms n
Received inventory returned by OMowen and issued a credit note for $
Received a cheque from M Biller for invoice no
Received a cheque from O Mowen for balance due on invoice no
Purchased inventory from Dyson Ltd for $ terms, n
Sold inventory worth $ on credit to J Rowls; invoice no terms n
Paid $ for electricity expenses, cheque no
Paid Lynwood Ltd for the invoice dated June, cheque no
Purchased inventory on account from Amcor Ltd $ terms n
Cash sales from June to June were $
Paid salaries for period June totaling $ cheque no
Purchased office supplies for $ cheque no
Received account from C Bond for $ for delivery expenses for the month.
Sold inventory on credit to O Mowen for $ invoice no terms n
Purchased printer for use in the business office at a cost of $ using a shortterm loan.
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