Question
Zion Ltd started operation on 1 st May 2020, buying and selling Computers at Macquarie Park. Journalise the following transactions for the month of May
Zion Ltd started operation on 1st May 2020, buying and selling Computers at Macquarie Park. Journalise the following transactions for the month of May for Zion Ltd using a period inventory system (assumes 10% GST applies):
May 2 Purchased 150 computers for $1,200 (GST exclusive) each on account from Officeworks.
May 7 Returned 14 damaged computers purchased from Officeworks.
May 10 Sold 50 computers for $2,000 (GST exclusive) each on account.
May 15 A customer returned 4 computers sold on May 10.
Narrations are not required.
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Cloud Computing Data Auditing Algorithm
Authors: Manjur Kolhar, Abdalla Alameen, Bhawna Dhupia, Sadia Rubab, Mujthaba Gulam
1st Edition
1946983144, 978-1946983145
