Answer the following questions about Slopes Ski Shop’s special journals.
1. Refer to Slopes Ski Shop’s sales journal in Exhibit 7-6 on page 387. How would it look different if Slopes used the periodic inventory system and all credit sales transactions were subject to PST and GST? Give the headings for all new columns.
2. Refer to Slopes Ski Shop’s cash receipts journal in Exhibit 7-8 on page 390. How would it look different if Slopes used the periodic inventory system and all cash sales transactions were subject to PST and GST? Give the headings for all new columns.
3. Refer to Slopes Ski Shop’s purchases journal in Exhibit 7-9 on page 394. How would it look different if Slopes used the periodic inventory system and all purchases on account were subject to GST? Give the headings for all new columns.
4. Refer to Slopes Ski Shop’s cash payments journal in Exhibit 7-10 on page 397. How would it look different if Slopes used the periodic inventory system and most cash payments were subject to GST? Give the headings for all new columns.
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