In the books of Juliana Ltd: | |||
Event Date | Account Title | Debit | Credit |
1-Oct | Bank A/c | 28250 | |
Bank Overdraft | 28250 | ||
1-Oct | Bank Overdraft | 52250 | |
Line of credit | 52250 | ||
5-Oct | Unearned revenues | 12000 | |
Accounts recievable | 19500 | ||
Sale | 31500 | ||
12-Oct | Inventory | 20000 | |
Accounts Payable | 20000 | ||
15-Oct | Income Tax Payable | 5620 | |
Cash | 5620 | ||
20-Oct | Accounts Payable | 85600 | |
Cash | 85600 | ||
21-Oct | Cash | 5000 | |
Unearned revenue | 5000 | ||
22-Oct | Cash | 28000 | |
Accounts recievable | 28000 | ||
Sale | 56000 | ||
23-Oct | Line of Credit | 10000 | |
Cash | 10000 | ||
30-Oct | Gross Payroll | 17500 | |
Income Tax | 2950 | ||
CPP | 802 | ||
EI | 259 | ||
Cash | 13489 |
Current Liabilities as on October 31, 2020 | ||||
Account name | Opening Balance | Additions | Paid out | Closing |
Bank Overdraft | 24,000 | 28,250 | (52,250) | - |
Accounts payable | 112,500 | 20,000 | (85,600) | 46,900 |
CPP Payable | 1,000 | 802 | 1,802 | |
EI Payable | 2,000 | 259 | 2,259 | |
Income taxes payable | 5,620 | (5,620) | 2,950 | 2,950 |
Unearned revenues | 12,000 | (12,000) | 5,000 | 5,000 |
Line of credit | 52,250 | (10,000) | 42,250 |
During October 2020 Juliana engaged in the following transactions: 01 Oct Negotiated a line of credit...
Hilton Ventures Ltd. had the following transactions: Oct. 31 Recorded wages earned by the employees during the month, which amounted to $35,000. The source deductions on these wages were CPP of $1,733, EI of $570, and income taxes of $5,250. Nov. 2 Paid the wages recorded on October 31. Nov. 15 Made the remittance to the government related to the October 31 payroll. Your answer is correct. Determine the amount of the employees' net wages. Net wages 27447 SHOW LIST...
Hilton Ventures Ltd. had the following transactions: Recorded wages earned by the employees during the month, which amounted to $35,000. The source deductions on these wages were CPP of $1,733, EI of $570, and income taxes of $5,250 Paid the wages recorded on October 31 Oct. 31 Nov. 2 Nov. 15 Made the remittance to the government related to the October 31 payroll. Your answer is correct. Determine the amount of the employees' net wages. 27447 Net wages SHOW LIST...
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On October 1, 2019, Helen Kennedy opened an advertising agency. DATE TRANSACTIONS Oct. 1 Helen Kennedy invested $62,000 cash in the business 2 Paid 0ctober office rent of $3,100; issued Check 1001 5 Purchased desks and other office furniture for $13, 800 from Office Furniture Mart, Inc.; received Invoice 6704 payable in 60 days 6 Issued Check 1002 for $3,300 to purchase art equipment. 7 Purchased supplies for $1, 650; paid with Ccheck 100:3 10 Issued Check 1004 for $480...
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