Post journal entries in A to the provided ledger accounts

Assignment Help Accounting Basics
Reference no: EM132635757

Question - The following transactions were undertaken by Mia's Cleaning Services during the month of Aug 2020. The business is registered for GST.

Aug 1: Invoiced a client $1,000 plus GST for the service provided, the client is expected to pay within 10 days.

Aug 5: The business owner Mia further invested $8,?000 capital into the business to ensure it has sufficient cash for operations.

Aug 10: Purchased office supplies for $220 (including GST) on credit.

Aug 10: Received the payment from the client invoiced on August 1

Aug 30: Paid employee salary for the month, $1,500.

Required -

A. Journalize the transactions above. Narrations are required.

B. Post the journal entries in A to the provided ledger accounts.

Reference no: EM132635757

Questions Cloud

Strains of enterococcus-staphylococcus : Some potentially pathogenic bacteria and fungi, including strains of Enterococcus, Staphylococcus, Candida, and Aspergillus
How you would address ethical considerations : In a 1,000-1,250 word essay, summarize two qualitative studies, explain the ways in which the findings might be used in nursing practice, and address ethical.
Find what is the net advantage to leasing : Dunbar Corporation, The firm's cost of debt is 9%. The IRS classifies the lease as a non-tax-oriented lease. What is the net advantage to leasing?
What is the probability that all 3 cards are hearts : Explain why the relative frequency column of a frequency table might not sum to 1.0 - What is the probability that all 3 cards are hearts?
Post journal entries in A to the provided ledger accounts : Aug 10: Purchased office supplies for $220 (including GST) on credit. Post the journal entries in A to the provided ledger accounts
Antibody and cell-mediated immunity : Human immunodeficiency virus (HIV) preferentially destroys CD4+ cells.
Important development in history of medicine : What was the most important development in the history of medicine?
What sexually transmitted virus is involved : Fifteen-year-old Dolores was embarrassed to talk with her mother about the pain she felt in her "private parts," but she
Find what is the net advantage to leasing : Dunbar Corporation, The firm's cost of debt is 9%. The IRS classifies the lease as a non-tax-oriented lease. What is the net advantage to leasing?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd