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Prepare general journal entries for the month of june

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Question 1: Prepare General Journal entries for the month of June 2018 for the following unrelated situations

a) Stationery of $6,820 ($6,200 plus $620 GST) purchased on credti from Total Office PTY LTD, incorrectly debited to Inventory. GST was recorded correctly.

b) A Payment for $1,320 ($1,200 Plus $120 GST) was posted to the advertising account instead of the telephone account. The GST was correctly recorded

c) A Salaries payment for $1,892 has been incorrectly entered into the cash payments journal as $1,829

d) Interest received of $2,200 was entered as discount received

e)A Printer purchased on credit from Printers R Us LTD has been expensed against stationery instead of Office equipment. The cost was $3,520 ($3,200 Plus $320 GST) The GST was correctly recorded

f) A business conducts a stock take and determines that the value of inventory on hand is only $78,000. The inventory control account shows an inventory balance of $80,000. The company uses a perpetual inventory system

 

Reference no: EM132620107

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