User Account

All Pages

Prepare journal entries for all the above transactions

Assignment Help Accounting Basics
Reference no: EM132768623

Question - XYZ Ltd lodges quarterly business activity statements with the taxation authority. The following information is for the quarter ended 30 June 2019:

Total sales (including GST) $341,400

Total sales returns (including GST) 39,800

Total purchases (including GST) 157,120

Total purchases returns (including GST) 16,720

Required - Prepare journal entries for all the above transactions, as well as payment of GST to the taxation authority, using the GST Paid and GST Collected accounts.

Reference no: EM132768623

Questions Cloud

What is needed in journal entry to record sale of machine : The salvage value of the machine was sold for $3,000 cash. What is needed in the journal entry to record the sale of this machine?
Will you have a margin call and : Question - Assume that the initial margin for trading wheat futures is $2,500 per contract, Will you have a margin call and
The idea of deviant over time : Is deviance just a label imposed by others, or is it an objective reality based on societal norms? How should it be studied?
How summarize the difference in income and total assets : How summarize the difference in income, total assets, and total shareholders' equity related to Product A over its five-year life under the two different sets
Prepare journal entries for all the above transactions : Prepare journal entries for all the above transactions, as well as payment of GST to the taxation authority, using the GST Paid and GST Collected accounts
Which debit or credit is included in adjusting journal entry : A company's controller estimated bad debt expense, Which debit or credit is included in the adjusting journal entry to record bad debt expense for the year?
What are the privacy and ethical issues of ai and big data : What are the privacy and ethical issues of AI and Big data in accounting (In finance departments of businesses more general).?
What audit evidence do need to collect for identifying : What audit evidence do you need to collect for identifying and assessing the risk of material misstatement associated with related party transaction?
How many units were completed and transferred out : Work-in-process inventory, beginning balance 115,000. How many units were completed and transferred out during this period

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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