-Use the Financial Statements;

• Do not create new accounts jusr follow whats below
• bank and cash reconciliation for May 31st 2020.
• the General Journal for the month (all journal entries including AJE).Prepare Closing Entries for the month of May to continue with business in the month of June as the next period.
• Post all transactions to the T-accounts and a trial balance. Show a detailed balance of each of these accounts for the month of May operations (end of Month),
• Create the Financial Statements in good form including contingency disclosures that are exclusive of the transactions of this case (do not include general notes). Create an Income Statement, a Statement of Owners Equity (Retained Earnings), and a Statement of Financial Position (Balance Sheet). Cash flow statement is not required.
• Each General Journal entry should satisfy all formalities (date, explanation, accounts, etc.).

STEP 2: Analyze the financial statements by answering the following questions:

• Indicate if the net income of the month is in line with John's expectations?
• Make one clear suggestions of how the business can be improved so John can achieve and surpass his target.
• Indicate if John will be able to scale up his operations in another location (Wasaga Beach) during July and August if the lead rider (manager) is to be paid $1,000 per month to operate the business on top of the salary received for the rides he/she provides.

STEP 3: Submit all the 9 items in one word or readable PDF document (no pdf pictures or scans, instead generate the pdf file as a print out of the software you are using: Word, Excel, etc.). Before submitting check that the files have been printed as desired and that the PDF file generated can be read.

Chart of Account for Smart Scooters Current Assets Organizational Costs Prepaid Insurance Prepaid Promotion Backpacks and T-shirts HST Paid Prepaid Interest Prepaid Advertising Accounts Receivables Non-Current Assets Equipment - Scooters Accumulated Depreciation - Scooters Equipment- Cell phones Accumulated Depreciation - Cell phone Expenses Income Tax Expense Insurance Expense Interest Expense Phone expense Promotion Expense WebWonder fees Salaries and Wages Advertising Expense Depreciation Expense Scooters Depreciation Expense Phone Bank fee Expense Backpacks and T-shirts Expenses Smart Scooter Inc. Income Statement (seasonal business from May to October) For the year 2019 Revenue $143.850.00 Expenses Salaries and benets $88,107.56 E-commerce charges $14.385.00 Promotion and advertising 15 1,600.00 Digital phone service 35 640.00 Insurance $ 2,400.00 Depreciation expense - Scooters $ 6.000.00 Depreciation expense - Cell phones 15 300.00 Interest and bank charges $ 152.00 M53456 Income before income taxes $ 30,265.44 Income tax expense 145.12 Net Income $ 25,120.32 Smart Scooter Inc. Statement of Retained Earnings December 31st 2019 Retained Earnings, January 1st 2019 $ 2,213.00 plus: Net Income $ 25.120.32 less: Dividends $000.00 Retained Earnings, December 31st 2019 $ 3,333.32 Current liabilities Advances from customers Dividends Payable Income tax Payable Loan and accrued interest HST Collected Tax Withhold Payable CPP Payable El Payable HST Payable to Receiver General Accounts Payable Shareholders' Equity Share Capital Retained Earnings Smart Scooter Inc. Statement of Financial Position December 31st 2019 ASSETS Current Assets Cash $ 16,870.44 Backpacks and T-shirts $ 3,032.88 Capital Assets Equipment - Scooters $18,000.00 less: Accumulated Depreciation - Scooters ($6,000.00)_$ 12,000.00 Organizational Costs $ 7,330.00 Equipment - Cell phones $ 900.00 less: Accumulated Depreciation - Cell phone ($ 300.00) $ 600.00 $ 39,833.32 LIABILITIES AND SHAREHOLDER'S EQUITY Current Liabilities Dividends Payable $ 24,000.00 Loan and accrued interest $ 10,000.00 Shareholder's Equity Share Capital $ 2,500.00 Retained Earnings $ 3,333.32 $ 5,833.32 $ 39,833.3215 May 2020 Bookings - Rider: Lee Ward P.O. Box 9835 WebWonder 987 Fast Lane Toronto, ON M3J 1P8 your e-business solution provider 416-983-5764 www.webwonder.com Name Address Phone # Special Instructions Smart Scooter 1 Friday 3 - 4pm 4 - 5pm Jessica 12 416-123- 30 year old newbie Account Summary of Bookings and Deposits for Smart Scooter Stone Lakeshore 4567 Invoice Number: 2020-May-01 May 9, 2020 (for the operations occurred between May 1st and May 8th) 5 - 6pm Sold To: Jessica Stone 6 - 7pm Zack 879 King 416-867- call first to confirm Previous amount due $690.00 Gardzinski 2547 123 Lakeshore Blvd. Invoice Date: May 1, 2020 Payment Received -$690.00 7- 8pm Balance 0.00 Toronto, ON M4X 126 2 Saturd 3 - 4pm Current charges summary 4 - 5pm 5 - 6pm Sessions booked May 1 - 8 87 6 - 7pm Carmen 3879 416-488- birthday party - 12 Session Cost $50.00 Charges @ 10% of price $435.00 Dias Yonge 1234 yrs. olds birthday party - 12 HST HST on current charges 56.55 7- 8pm Carmen 3879 416-488- 6.50 Total Current Charges including HST $491.55 Dias Yonge 1234 yrs. olds $56.50 Please pay upon receipt. To avoid a Late Payment Charge of 1.25% monthly 3 Sunday 3 - 4pm do not book - day off Smart Scooter H.S.T. # 37 678 9142 RT0001 please ensure we receive your payment on or before May 13th 2020 4 - 5pm do not book - day off 5 - 6pm do not book - day off One hoverboard session booked for: Current Charges - Detail Customer Rider Session Payment Session 6 - 7pm do not book - day off May 1, 2020 4 - 5 pm Booked Amount Date 7-8pm do not book - day off ncluding HST with rider Lee Ward - telephone 416-111-1111 Jessica Stone Lee Ward 01-May 56.50 56.50 01-May 4-5 pm Zack Gardzinski Lee Ward 01-May 01-May 6-7 pm Notes to John for record keeping purposes: 1) Equipment and instruction to be provided by Smart Scooter Peter Ng Allisa Steamer 01-May Bucky Lasal 56.50 1-May 4-6 pm 01-May 113.00 Marco Macieri 10-May 3-4 pm this is a sample booking summary, Waiver: Kristie Lima Bucky Lasak 01-May 56.50 02-May 4-5 pm On-line payment for this session included clicking 'yes' to agree to save Continued... harmless and keep indemnified Smart Scooter and its respective 2 ) There are riders that needed new agents, officials, servants and representatives, from and against all claims, actions, costs, expenses and demands in respect of death, injury, loss or damage to your person (or your child) or property, Rob Patel Rush Randle 08-May 56.50 07-May noon - 1pm backpacks and t-shirts. Stock is depleted howsoever caused arising out of or in connection with you (your child) taking part in this session. Deposited to Smart Scooter Account # 234-567- by an amount equal to $1,000 plus 100 12 May 9th 4,915.50 times the last digit of your student Note to John for record keeping purposes: Note to John for record keeping purposes: number. this is a sample invoice. this is a sample weekly report received. 16 17 18SMART P.O. Box 98357 151 SMART SCOOTER P.O. Box 98357 987 FastLane 155 SCOOTER SMART P.O. Box 98357 1591 Toronto, ON M3J 1P8 May 1, 2020 987 Fast Lane Toronto, ON M3J 1P8 May 10, 2020 SCOOTER 987 FastLane PAY TO THE Toronto, ON M3J 1PB May 31, 2020 ORDER OF Riskit Insurance Group PAY TO THE ORDER OF PAY TO THE Three Thousands with - 00/100 "$3, 000. 00 John ORDER OF DOLLARS Twenty Four Thousands with 00/100 $24,000.00 Bucky Lasak DOLLARS Four Hundreds Sixty Eight with 16/100 3468.16 DOLLARS TBC Bank 950 Fast Lane PER John TBC Bank Toronto ONMBJ 1P? PER John PER 950 Fast Lane 780 Bank Toronto ON MBJ 1P7 PER John PER 950 Fast Lane Toronto ON MEJ 1P7 PER SMART P.O. Box 98357 152 SCOOTER SMART P O. Box 98357 156 987 FastLane May 1, 2020 SCOOTER SMART PO. Box 98357 160 Toronto, ON M3J 1PB 987 Fast Lane Toronto, ON MBJ 1P8 May 10, 2020 SCOOTER 987 Fast Lane PAY TO THE Toronto, ON MEJ 1PB ClearTel PAY TO THE May 31, 2020 ORDER OF ORDER OF PAY TO THE Eighty Five with -00/100 DOLLARS 'S 85.00 Aunt Hamet One Thousand Two Hundreds with - - 00/100 $1, 200.00 ORDER OF Mohammed Hanif DOLLARS Five Hundreds Eighteen with 32/100 DOLLARS $518.32 TBC Bank 950 Fast Lane PER John TBC Bank PER John Toronto ONMBJ 1P? PER 950 Fast Lane TBC Bank Toronto ON MBJ 1P7 PER John PER 950 Fast Lane Toronto ON MEJ 1PT PER SMART P.O. Box 98357 153 SMART SCOOTER P.O. Box 98357 157 987 Fast Lane SMART PO. Box 98357 161 Toronto, ON M3J 1PB May 3, 2020 SCOOTER 987 Fast Lane Toronto. ON MJ 1P8 May 31, 2020 SCOOTER 987 FastLane PAY TO THE Toronto, ON M3J 1PB May 31, 2020 ORDER OF PAY TO THE Quick Print ORDER OF Lee Ward PAY TO THE Seven Hundreds Thirty with- -00/100 '$730.00 ORDER OF Rush Randle DOLLARS Three Hundred Sixty seven with 84/100 DOLLARS $367.84 Six Hundreds One with 92/100 DOLLARS $601.92 TBC Bank 950 Fast Lane PER John TBC Bank Toronto ONMJ 1P? PER 950 Fast Lane PER John TBC Bank Toronto ON MJ 1P7 950 Fast Lane PER John PER Toronto ON MOJ 1P7 SMART P.O. Box 98357 154 SMART SCOOTER PO Box 98357 158 987 FastLane SCOOTER 987 Fast Lane SMART PO. Box 98357 162 Toronto, ON M3J 1P8 May 3, 2020 Toronto, ON M3J 1P8 May 31, 2020 SCOOTER 987 FastLane PAY TO THE PAY TO THE Toronto, ON M3J 1PB May 31, 2020 ORDER OF YourT'V. com ORDER OF Allisa Steamer PAY TO THE Five Hundreds with 0/100 's 500.00 Six Hundreds one with - 92/ 100 DOLLARS $601.92 ORDER OF Mei Cui DOLLARS Five Hundreds Fifty One with- -76/100 $551 .76 TBC Bank 7BC Bank PER John DOLLARS 950 Fast Lane PER John 960 Fast Lane Toronto ONMBJ 1P? Toronto ON M3J 197 PER TBC Bank 950 Fast Lane PER John Toronto ON MOJ 197 19 20 21SMART P.O. Box 98357 163 SCOOTER SMART P.O. Box 98357 987 FastLane 167 SMART P.O. Box 98357 171 Toronto, ON M3J 1P8 May 31, 2020 SCOOTER 987 Fast Lane SCOOTER 987 Fast Lane PAY TO THE Toronto, ON M3J 1PB May 31, 2020 Toronto, ON MBJ 1P8 May 31, 2020 ORDER OF Nadia Cemiuk PAY TO THE Five Hundreds One with -60/100 ORDER OF Tom Aberdeen PAY TO THE ORDER OF DOLLARS $501.60 Five Hundreds One with - Roberta Miller -60/100 $ 501. 60 Three Hundreds Eighty Four with - --56/100 $ 384.56 TBC Bank DOLLARS 950 FastLane PER John DOLLARS Toronto ON MEJ 1P7 PER TBC Bank PER John 950 Fast Lane TBC Bank Toronto ONMBJ 1P7 PER 950 Fast Lane PER John Toronto ONMAJ 1P7 PER SMART P.O. Box 98357 164 SCOOTER 987 Fast Lane Toronto, ON M3J 1P8 May 31, 2020 SMART P.O. Box 98357 168 SCOOTER SMART PO Box 98357 PAY TO THE 987 FastLane ORDER OF Sam Obarogie Toronto, ON M3J 1P8 May 31, 202 SCOOTER 172 987 Fast Lane Four Hundreds Eighteen with 00/100 $ 418,00 PAY TO THE Toronto, ON MEJ 1P8 June 15 2020 DOLLARS ORDER OF Paul Joe PAY TO THE Five Hundreds Eighty Five with -20/100 $ 585, 20 ORDER OF Receiver General (Income tax, withhold 11%) PER John COLLARS Nine Hundreds Seventy Nine with- -00/100 $979.00 950 FastLane Toronto OMBJ IF7 DOLLARS PER 780 Bank 950 Fast Lane PER John 7BC Bank Toronto ONMJ 1P7 950 Fast Lane PER John SMART 165 Toronto ON M3J 1PT PER P.O. Box 98357 SCOOTER 987 Fast Lane Toronto, ON MBJ 1P8 May 31, 2020 SMART P.O. Box 98357 169 SCOOTER SMART PO. Box 98357 173 PAY TO THE 987 Fast Lane SCOOTER 987 Fast Lane ORDER OF Shawn Patel Toronto, ON M3J 1P8 May 31, 2020 Toronto, ON MEJ 1PB June 15 2020 Five Hundreds Eighteen with 32/100 DOLLARS $ 518.32 PAY TO THE PAY TO THE ORDER OF James Kinney ORDER OF Receiver General (CPP withhold 3%) Six Hundreds Thirty Five with 36/100 $635.36 Two Hundreds Sixty Seven with TBC Bank PER John --00/100 $ 267.00 950 Fast Lane DOLLARS DOLLARS Toronto ONMEJ 1P7 PER 7BC Bank PER John 950 Fast Lane PER John Toronto ONNBJ 1P? 960 Fast Lane PER Toronto ON MaJ 1P? PER SMART P.O. Box 98357 166 SCOOTER 987 Fast Lane SMART P.O. Box 98357 170 SMART PO Box 98357 174 Toronto, ON MBJ 1P8 May 31, 2020 SCOOTER 987 Fast Lane SCOOTER 987 Fast Lane PAY TO THE Toronto, ON MJ 1PB June 15 2020 ORDER OF Mandeep Grewal Toronto, ON M3J 1P8 May 31, 2020 Four Hundreds Thirty Four with 72/100 PAY TO THE PAY TOTHE ORDER OF ORDER OF DOLLARS $ 434.72 Tomasz Marks Receiver General (EI Withhold 2.4%) Three Hundreds Fifty One with 12/100 $351.12 Two Hundreds Thirteen with -60/100 $ 213.60 TBC Bank PER John DOLLARS DOLLARS 950 Fast Lane Toronto ONMEJ 1P7 780 Bank TBC Bank PER John 950 Fast Lane PER John 950 Fast Lane Toronto ON M3J 1PT PER Toronto ONMJ 1P7 PER 22 23 24SMART PO. Box 98357 175 TBC Bank Statement of Account Account SCOOTER 987 FastLane 02912 234-567-12 Smart Scooter Toronto, ON M3J 1P8 June 15 2020 950 Fast Lane Current Account Statement Date May Bank Reconciliation PAY TO THE Toronto ON M3J 1P7 ORDER OF Receiver General (CPP Employer Contribution 3%) May 31, 2020 Balance per the Bank Statement (ending Two Hundreds Sixty Seven with -00/100 $ 267.00 balance of May 31st)... $13,729.22 Cash T account DOLLARS Branch 02912 Smart Scooters less: outstanding cheques Dr Cr TBC Bank PER John p.o. Box 9835 16870.44 950 Fast Lane 987 Fast Lane Toronto ONMBJ 1P7 PER Toronto, ON M3J 1P8 Date Description Debits Credits Balance SMART P.O. Box 98357 176 May 1 Opening Balance $16,870.44 16,870.44 SCOOTER 987 Fast Lane CHEQUE 151 $3,000.00 13,870.44 Toronto, ON M3J 1P8 June 15 2020 CHEQUE 152 $ 85.00 13,785.44 Plus: deposits in transit PAY TO THE May 5 CHEQUE # # 154 $ 500.00 13,285.44 ORDER OF Receiver General (EI Employer Contribution 3.36% May 9 DEPOSIT $ 4,915.50 18,200.94 Two Hundreds Ninety Nine with --04/100 $ 299.04 PRE-AUTHORIZED DEBIT $ 491.55 17,709.39 DOLLARS May 10 CHEQU 153 $730.00 16,979.39 TBC Bank PER John May 12 DEPOSIT $ 4,500.00 21,479.39 950 Fast Lane May 16 DEPOSIT $ 7,684.00 29,163.39 Toronto ON M3J 1P7 PER PRE-AUTHORIZED DEBIT $ 768.40 28,394.99 May 18 CHEQU 156 $1,200.00 27,194.99 $ 6,554.00 33,748.99 Adjusted Cash Balance SMART PO. Box 98357 177 May 24 DEPOSIT PRE-AUTHORIZED DEBIT $ 655.40 33,093.59 SCOOTER 987 FastLane 155 June 15 2020 CHEQUE # $24,000.00 9,093.59 Balance per the General Ledger Toronto, ON M3J 1PB May 31 DEPOSIT $ 6,497.50 15,591.09 after the service charges of $25 were PAY TO THE PRE-AUTHORIZED DEBIT $ 649.75 14,941.34 posted ORDER OF Receiver General (HST collected in excess) CHEQUE 161 $601.92 14,339.42 with -00/100 CHEQUE # 168 585.20 13,754.22 DOLLARS MONTHLY SERVICE CHARGE $ 25.00 13,729.22 To reconcile the TBC Bank PER John TOTALS Balance per the Bank Statement (ending balance of May 31st) 950 Fast Lane Toronto ONMEJ 1PT PER May 31 Ending Bal 13,729.22 must be equal to the Balance per the General Ledger after considering all cheques issued and expenses paid automatically SMART PO. Box 98357 178 SCOOTER 987 Fast Lane Toronto, ON M3J 1PB PAY TO THE ORDER OF TBC Bank 950 Fast Lane PER Toronto ONM&J 1P7 PER 25 26 27May 1, 2020 Account No. 21-389-47 ricer Invoice to: Smart Scooter Service period May 1 to 31, 2020 QuickPrint performance scooters for 50 years 45 Walkerton Previous amount due $85.00 Road Perth, Ontario Payment Received - Thank you $85.00 Bill To: Smart Scooters L1H OF8 0.00 Invoice # TOR2020-3601 2019-6458 Invoice Date May 1, 2020 Bill To: Smart Scooters Invoice #: p.0. Box 9835 Invoice Date: April 18, 2019 987 Fast Lane Current charges - per details below Toronto ON M3J $85.00 Quantit 1P8 Balance $85.00 Description Amount $18,000.00 for 40 model VFF self-propelled smart scooters @ $450 each delivered May 3rd and 3 months of full guarantee for parts and 500 business cards 200.00 accessories. 2,340.00 HST Current Charges - Detail 100 posters 246.00 $20,340.00 416-983-5764 All included - no hidden fees $75.22 1000 flyers 200.00 Previous Payments and Overdue New Total Total HST (#131655334RT) 9.78 646.00 Amount HST #213213785RT 84.00 Balance Adjustments Balance Charges Due Paid May 1st $0 $0 $0 $20,340 $20,340 Cheque #152 730.00 HST number 11927 2195 RT0001 $85.00 Balance Due $730.00 terms: Ist installment $10,000 due on May 3rd 2019 at delivery Payment due June 15th. A late payment charge of 1% per month will be charged Please make cheque payable to: 2nd installment $20,340 due on July 30th 2019 on all overdue accounts QuickPrint Paid May 3rd Paid May 3rd Paid July 30th 48 Burgess Ave. Scarborough, ON MZZ 1W9 Cheque #153 Cheque #94 Cheque #11228 29 30 The Riskit Insurance Group 120 North Town Centre Blvd. Markham, ON W6G 105 Your TV.com Ask For: David Yu INVOICE 98123 ACCT Smart Scooter Date: May 1, 2020 a division of ABC corp. TERM One Season (May to October) EFFECTIVE May 1, 2020 111 Front Street West POLICY 864378 PREMIUM $3,000 Toronto, Canada W5V 259 All Perils 01-May-20 Limit of Liability $5,000,000 Advertising Account # 57869 Please Quote Account Number in all Correspondence) YOUR PREMIUM IS DUE AND PAYABLE ON EFFECTIVE DATE OF POLICY Smart Scooter Ad for May and July Coverage is cancelled if not paid within 30 days Copy as supplied $500 HST included #311 527 349 RT Paid May 1st WebWonder Revenue Summary advertisement will not be uploaded if payment Cheque #151 your e-business solution provider www.webwonder.com in full is not received by May 5th from: Monthly Summary of Smart Scooters Account Smart Scooter p.o. Box 98357 for the month of May 2020 987 Fast Lane Toronto ON M3J 1P8 Bookings by Rider: Hours booked Paid May 3rd May May May May May Total hours Gross Service but not 1-8 9-15 Cheque # 156 for $1,200: 16-23 24-29 Gross Pay 30-31 booked @ $20/session Salary paid Provided provided Lee Ward 2 8 11 6 32 $640.00 $440.00 10 Allisa Steamer 10 9 7 22 5 7 39 $780.00 $720.00 Cheque #154 Bucky Lasak 9 6 $560.00 Interest on the loan from Aunt Mohammed Hanif 5 $700.00 note 1 $ $620.00 Rush Randle 00 07 0 10 5 7 note 1 $720.00 Mei Lui 11 10 680.00 660.00 11 $660.00 $600.00 Harriet for the year 2020 was paid Nadia Cerniuk Sam Obarogie 10 8 $620.00 $500.00 Shawn Patel 7 note 15 11 $620.00 Mandeep Grewal note 1 $520.00 May 10th with Ch# 156 Tom Aberdeen 0 $760.00 $600.0 Paul Joe 10 14 James Kinney 10 0 $760.00 $700.00 12 $840.00 $760.00 Tomasz Marks note $420.00 $10,000 x 1% x 12 months = $1,200 Roberta Miller 6 5 Totals 116 AOANDWNTO $500.00 $460.00 136 $ ? $8,900 UNVA WOO V V O W - V V V W Note 1: an amount equivalent to the last digit of your student number 31 32 33Revenue Summary (cont. ) Payroll details and calculations Totals 87 136 116 115 ? $? $8900 435 ? Smart Scooter Note 1: an amount equivalent to the last digit of your student number May 2020 Total hours Employer Portion Due to of services Gross Tax Withhold CPP EI Net Pay Cheque CPP E Receive Name provided Salary (11%) (3%) (2.4%) # (3%) (3.36%) General Year-to-date Session Summary Lee Ward 22 $440.00 48.40 $13.20 $10.56 $367.84 157 $13.20 $14.78 $100.14 Total Collected Allisa Steamer 36 $720.00 79.20 $21.60 $17.28 601.92 158 $21.60 $24.19 $163.87 $13.44 $468.16 159 $16.80 $18.82 $127.46 Sessions @$50 each HST (13%) including HST Bucky Lasak 28 61.60 $16.80 Mohammed Hanif 31 $560.00 $24,577.50 $620.00 68.20 $18.60 $14.88 $518.32 160 $18.60 $20.83 $141.11 Sessions given 435 21,750 $2,827.50 $ 36 $720.00 79.20 $21.60 $17.28 $601.92 161 $ Rush Randle $21.60 $24.19 $163.87 Session booked not yet given ? Mei Lui 33 $660.00 72.60 $19.80 $15.84 $551.76 162 $19.80 $22.18 $150.22 Total Sessions Paid by Customers Nadia Cerniuk 30 $600.00 66.00 $18.00 $14.40 $501.60 163 $18.00 $20.16 $136.56 Sam Obarogie 25 $500.00 55.00 $15.00 $418.00 164 $15.00 $16.80 $113.80 Bank Transaction Summary: Shawn Patel 21 $620.00 68.20 57.20 $18.60 $12.00 $14.88 $518.32 $18.60 $20.83 $141.11 Mandeep Grewal 26 $520.00 $15.60 $12.48 $434.72 165 166 $15.60 $17.47 $118.35 Collections for Sessions Booked: May 1-8 May 9-15 May 16-23 May 24-29 May 30-31 Total Tom Aberdeen 30 $600.00 66.00 $18.00 $14.40 $501.60 167 $18.00 $20.16 $136.56 Date Deposited to #234-567-12 May 9 May 16 May 24 May 30 June * Paul Joe 35 $700.00 77.00 $21.00 $16.80 $585.20 168 $21.00 $23.52 $159.32 Number of Sessions Booke 87 136 116 115 ? James Kinney 38 $760.00 83.60 $22.80 $18.24 $635.36 169 $22.80 $25.54 $172.98 Session Charges @$50 per session $4,350.00 $6,800.00 $5,800.00 $5,750.00 $ Tomasz Marks 21 $420.00 46.20 $12.60 $10.08 $351.12 170 $12.60 $14.11 $95.59 plus HST $565.50 $884.00 $754.00 $747.50 $ Roberta Miller 23 $460.00 50.60 $13.80 $11.04 $384.56 171 $13.80 $15.46 $104.70 Collected by WebWonder: $4,915.50 $7,684.00 $6,554.00 $6,497.50 $ $8,900.00 $979.00 $267.00 $213.60 $7,440.40 $267.00 $299.04 $2,025.64 Deposited to Smart Scooter $4,915.50 $7,684.00 $6,554.00 $6,497.50 $25,651.00 payroll cheques Source Deductions Owed to Smart Scooter by WebWonder Collected by WebWonder: 157 - 171 paid June 15th with Deducted from #234-567-12 May 9 May 16 May 24 May 30 WebWonder 10% Fee (HST included) $491.55 $768.40 $655.40 $649.75 $2,565.10 "to be deposited June 6 with May 29 - June 5 collections issued May 31st cheques #172-176 35 34Smart Scooter May Tax Estimates Amounts remitted June 15th HST HST collected or became collectible in May: May 1-8 $ 565.50 May 9-15 $ 884.00 May 16-23 $ 754.00 May 24-29 $ 747.50 May 30-31 $ less: input tax credits i.e., HST paid or payable HST paid for WebWonder services May 1-8 56.55 May 9-15 88.40 May 16-23 75.40 May 24-29 $ 74.75 May 30-31 HST on cell phones service 9.78 HST paid to QuickPrint 84.00 HST on Your TV advertising ta ta ta to 57.52 Amount to pay for HST collected in excess of payments cheque #177 $ Income Tax (liability generated in May 2020): a very rough approximation of income tax is 5% of net revenue of the month