Using the data in problem 3.11, complete requirements A to F assuming the addition of GST of 10% where appropriate. Round your answers to the nearest dollar.
A. Prepare general journal entries to record the December transactions. Assume that, for the transaction of 2 December, the loan agreement remains at $40 000. Add two new accounts: GST Receivable 1-105 and GST Payable 2-150
B. Post the entries from the general journal to running balance general ledger accounts and enter the posting references in the journal.
C. Prepare a trial balance as at 31 December 2016.
D. Prepare journal entries to record the January transactions.
E. Post the entries to the ledger.
F. Prepare a trial balance as at 31 January 2017.
Enjoy 24/7 customer support for any queries or concerns you have.
Phone: +1 213 3772458
Email: support@gradeessays.com