R.Sadco is the owner of Red Lake Campground in Marmora, Ontario. The sales of the business are a cash basis. Goods and services are purchased by the business on credit. Using the following accounts prepare a journal for the transactions: Bank Account payable-BowMac Telephone Company Account payable-Corcoran Sod Farm Account payable-Highway Lumber Account payable-Municipality of Marmora HST Payable HST Recoverable Fees Earned Property Taxes Expense Maintenance and Repairs Expense Telephone Expense Transactions August 15 Cash Sales Tickets for the week is 1200 plus HST at 13% 17 Property Tax Bill The tax period was from July 1 to December 31 for an amount of $1600. No HST 18 Purchase Invoice Bought materials from Highway Lumber for $604 plus HST at 13%. The material was used for repairs and maintenance 19 Purchase Invoice Bought materials from Corcoran Sod Farm for $150 plus HST at 13%. The material was used for repairs and maintenance 20 Purchase Invoice Telephone services by BowMac Telephone Company was $100 plus HST at 13%. 22 Cash Sales Tickets for the week is 1400 plus HST at 13%
Q1.
R.Sadco is the owner of Red Lake Campground in Marmora, Ontario. The sales of the business are a cash basis. Goods and services are purchased by the business on credit.
Using the following accounts prepare a journal for the transactions:
Bank
Account payable-BowMac Telephone Company
Account payable-Corcoran Sod Farm
Account payable-Highway Lumber
Account payable-Municipality of Marmora
HST Payable
HST Recoverable
Fees Earned
Property Taxes Expense
Maintenance and Repairs Expense
Telephone Expense
Transactions
August
15 Cash Sales
Tickets for the week is 1200 plus HST at 13%
17 Property Tax Bill
The tax period was from July 1 to December 31 for an amount of $1600. No HST
18 Purchase Invoice
Bought materials from Highway Lumber for $604 plus HST at 13%. The material was used for repairs and maintenance
19 Purchase Invoice
Bought materials from Corcoran Sod Farm for $150 plus HST at 13%. The material was used for repairs and maintenance
20 Purchase Invoice
Telephone services by BowMac Telephone Company was $100 plus HST at 13%.
22 Cash Sales
Tickets for the week is 1400 plus HST at 13%
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