sactions under a GST/PST system. The rate of GST is 5%; PST is 8%. Both taxes are charged on all sales, and both percentages are calculated on the original amount of the invoice. Use the following accounts: A/R Booker Industries A/R Genco Corporation A/R Hall Industries A/P Bell Cellphones A/P Great Stations GST Payable GST Recoverable HST Payable HST Recoverable PST Payable Sales Office Supplies Expense Telephone Expense TRANSACTIONS: October 19 Sales Invoice No. 459 to Booker Industries, $1250 plus GST and PST 19 Sales Invoice No. 460 to Genco
Five transactions for Jodry & Associates follow Journalize the five transactions under a GST/PST system. The rate of GST is 5%; PST is 8%. Both taxes are charged on all sales, and both percentages are calculated on the original amount of the invoice. Use the following accounts: A/R Booker Industries A/R Genco Corporation A/R Hall Industries A/P Bell Cellphones A/P Great Stations GST Payable GST Recoverable HST Payable HST Recoverable PST Payable Sales Office Supplies Expense Telephone Expense TRANSACTIONS: October 19 Sales Invoice No. 459 to Booker Industries, $1250 plus GST and PST 19 Sales Invoice No. 460 to Genco Corporation, $1500 plus GST and PST 20 Sales Invoice No. 461 to Hall Industries, $2700 plus GST and PST 22 Purchase Invoice No. 49390 from Bell Cellphones, $313.20 plus GST. (Note: This purchase is exempt from PST) 25 Purchase Invoice From Great Stationers, No. 15586 for Office supplies, $826.20 plus taxes. Since Jodry & Associates is the final consumer of the supplies, PST is one of the taxes charged. Both PST and GST use $826.20 as the base amount. Also, use Office Supplies Expense for the account title since supplies are consumed very quickly in this business. Journalize the five transactions again under an HST system. The rate of HST is 13%. Ignore all references to GST and PST.
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