Record these transactions in the General Journal, complete with suitable explanations. Ask your instructor which of the following tax rates to use: i. Add 5% GST only ii. Add 13% HST iii. Add 5% GST 1 7% PST 1. Rita Jackson, owner of a grocery store, withdrew merchandise for her own use, $55 plus tax(es). 2. Issued cheque to the Provincial Telephone Co. to pay the following: company telephone bill, $45.50 plus tax(es), and owner’s home telephone bill, $41.10. 3. Owner has given you the receipt for a bouquet of flowers sent to her husband. The amount was paid by company cheque, $25
Record these transactions in the General Journal, complete with suitable explanations. Ask your instructor which of the following tax rates to use: i. Add 5% GST only ii. Add 13% HST iii. Add 5% GST 1 7% PST
1. Rita Jackson, owner of a grocery store, withdrew merchandise for her own use, $55 plus tax(es).
2. Issued cheque to the Provincial Telephone Co. to pay the following: company telephone bill, $45.50 plus tax(es), and owner’s home telephone bill, $41.10.
3. Owner has given you the receipt for a bouquet of flowers sent to her husband. The amount was paid by company cheque, $25.
4. Owner took used printer, valued at $225 plus tax(es), from the business for personal use at home. 5. Issued cheque for $500 to Ms. Jackson for personal use.
6. Owner took office supplies for own use, $15 plus tax(es).
7. Paid owner’s personal dry-cleaning bill, $15.50, with a company cheque.
8. Owner withdrew merchandise, $50 plus tax(es), and cash, $125, for personal use.
9. Issued cheque to City Gas Co. to cover company’s heating bill, $304.50 (includes tax(es)), and owner’s home heating bill, $99.64.
10. Issued cheque to pay business’s hydro bill, $162.75 including tax(es).
11. Owner withdrew $15 from the petty cash box for lunch money.
12. Owner took stationery for personal use, $9 plus tax(es).
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