Answered step by step
Verified Expert Solution
Question
1 Approved Answer
When taxes are applicable, you will be given this information. HST is 13% D E F G Journalise the following ten (10) transactions for The
When taxes are applicable, you will be given this information. HST is 13%
D E F G Journalise the following ten (10) transactions for The Green Store, a merchandising business owned by S. Redmond. The Green Store uses the Periodic Inventory method. The HST rate is listed on the Introduction page. No journal descriptions are necessary. Source Document: Sales invoice For the following: Sold Inventory Items (composters) to Jacob Handy Stores Amount: $1,400 plus HST Terms: Net 30 Source Document Cash Receipts For the following: Received payment on account from Betty Loo. Amount: $ 685.00 Terms: Cash Tendered Source Document Sales Return Slip For the following: Jacob Handy returned defective goods Amount: $ 140.00 plus HST. Terms: Credit on account F D E F G Source Document Purchase Invoice For the following: Inventory (composters) purchased for resale from Enviro-friendly Inc. Amount: $ 460.00 plus HST. Terms: Credit - on account Source Document Sales Return Slip For the following: Wrong goods mistakenly shipped to customer were returned for credit. Amount: $ 1,010.00 plus HST Terms: Credit Transaction NOTE: goods have already been paid for Source Document Memo For the following: Vendor took a composter for personal use Amount: 100 plus HST Terms: N/A Source Document Purchase Invoice For the following: Delivery costs of merchandise for resale shipped to us at our expense. $ 78.50 plus HST. Terms: Cash Tendered Amount: E F Source Document Cheque Copy For the following: Payment on account to a supplier - Ken Joseph Amount: $ 142.50 Terms: Cash Source Document Bank Memo For the following: Received a charge for bank fees for October place in Miscellaneous Expense $ 22.50 Terms: Cash Tendered Amount: Source Document Cheque Copy For the following: Purchased office supplies. Amount: $ 36.75 plus HST Terms: Cash TenderedStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started