M3-13 Recording Accrual Basis Expenses [LO 3-3]The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in the northeasternUnited States.a. Swing Hard paid $5,100 to its golf instructors for the month of February.b. Swing Hard paid $1,800 for electricity used in the month of January.c. Swing Hard received an electricity bill for $880 for the month of February, to be paid in March.Prepare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No Journal EntryRequired" in the first account field.)View transaction listJournal entry worksheet12Record the payment of $5,100 to its golf instructors for the month of February.TransactionNote: Enter debits before credits.a.3Record entryGeneral JournalClear entryDebitCreditView general journal

By keeping track of transactions, firms may successfully control their cash flow by keeping an eye…

13-13 Recording Accrual Basis Expenses [LO 3-3] he following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in the northeastern nited States. Swing Hard paid $5,100 to its golf instructors for the month of February. Swing Hard paid $1,800 for electricity used in the month of January. Swing Hard received an electricity bill for $880 for the month of February, to be paid in March. epare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry equired" in the first account field.) View transaction list Journal entry worksheet < 1 2 Record the payment of $5,100 to its golf instructors for the month of February. Transaction 3 Note: Enter debits before credits. a. General Journal Debit Credit >

13-13 Recording Accrual Basis Expenses [LO 3-3] he following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in the northeastern nited States. Swing Hard paid $5,100 to its golf instructors for the month of February. Swing Hard paid $1,800 for electricity used in the month of January. Swing Hard received an electricity bill for $880 for the month of February, to be paid in March. epare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry equired" in the first account field.) View transaction list Journal entry worksheet < 1 2 Record the payment of $5,100 to its golf instructors for the month of February. Transaction 3 Note: Enter debits before credits. a. General Journal Debit Credit >

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 2AP

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Sawchuk's Home and Garden Centre in Toronto files monthly HST returns. The purchases on which it paid the HST and the sales on which it collected the HST for the last four months were as follows: (assume HST in Toronto is 13%) Month Purchases ($) Sales ($) May 176,730 313,245 Based on an HST rate of 13%, calculate the HST remittance or refund due for each month Calculate the difference between GST Collected on Sales and GST Paid on Purchases?
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