Data regarding Petrilla Corp. in March 20X9:
Selected opening balances: | ||||
GST payable | $ | 66,400 | (cr.) | |
CPP payable | 4,700 | (cr.) | ||
EI payable | 6,700 | (cr.) | ||
Income tax deductions payable | 18,480 | (cr.) | ||
Required:
1. Journalize all transactions listed above. (If no entry
is required for a transaction/event, select "No journal entry
required" in the first account field.)
2. List the accounts and amounts that would appear on the 31
March statement of financial position.
ALL THE NUMERICAL FIGURES ARE IN DOLLAR
1 a Cash Dr.1123500
Sales Revenue 1070000
GST Payable 53500
2. Salary Expense Dr. 135000
EI Payable 4700
CPP Payable 3700
Employee Income Tax payable 13700
Cash 112900
3 Salary Expense Dr. 8400
EI Payable 4700
CPP Payable 3700
4 Inventory DR 1670000
GST Payable DR 83500
Accounts Payable 1753500
5 Cash DR 3433500
Sales Revenue 3270000
GST Payable 163500
6 Accounts Receivable DR 194480
Sales Revenue 194480
7 Cash DR 180400
Accounts Receivable 170560
Foreign Exchange Gain and Losses 9840
8 GST Payable DR 199900
Cash 199900
9 Accounts Payable 1052100 (1670000+83500)*60%
Cash 1052100
10 Accounts Receivable dr 25070
Foreign Exchange Gain and Losses 25070
2. The amounts that will appear on 31 March
Accounts Payable 701400 ( 1753500-1052100)
CPP Payable 12100(4700+3700+3700)
EI Payable 16100(6700+4700+4700)
Employee Income Tax Payable 4780(18480-13700)
Accounts Receivable 48990(194480-170560 +250710)
Data regarding Petrilla Corp. in March 20X9: Selected opening balances: GST payable $ 66,400 (cr.) CPP...
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