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    Paula Perna Answer With HST

    Uploaded by

    Julia Trinca
    This document is a general journal for Paula Perna's new business recording transactions from June 1-30. It records opening entries establishing cash, equipment, accounts payable and capital accounts. It also records expenses such as rent, supplies and wages paid by cash, credit or payment of accounts payable. Fees earned from clients and payments received on accounts receivable are also recorded. The journal closes with a withdrawal of funds by Paula Perna to cover car expenses.

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    © All Rights Reserved
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    Paula Perna Answer With HST

    Uploaded by

    Julia Trinca
    351 views2 pages
    This document is a general journal for Paula Perna's new business recording transactions from June 1-30. It records opening entries establishing cash, equipment, accounts payable and capital accounts. It also records expenses such as rent, supplies and wages paid by cash, credit or payment of accounts payable. Fees earned from clients and payments received on accounts receivable are also recorded. The journal closes with a withdrawal of funds by Paula Perna to cover car expenses.

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    Paula Perna answer with HST (1)

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    This document is a general journal for Paula Perna's new business recording transactions from June 1-30. It records opening entries establishing cash, equipment, accounts payable and capital accounts. It also records expenses such as rent, supplies and wages paid by cash, credit or payment of accounts payable. Fees earned from clients and payments received on accounts receivable are also recorded. The journal closes with a withdrawal of funds by Paula Perna to cover car expenses.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    351 views2 pages

    Paula Perna Answer With HST

    Uploaded by

    Julia Trinca
    This document is a general journal for Paula Perna's new business recording transactions from June 1-30. It records opening entries establishing cash, equipment, accounts payable and capital accounts. It also records expenses such as rent, supplies and wages paid by cash, credit or payment of accounts payable. Fees earned from clients and payments received on accounts receivable are also recorded. The journal closes with a withdrawal of funds by Paula Perna to cover car expenses.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    General Journal Page 1

    Date 20- Particulars P.R. Debit Credit


    June 1 Bank 105 2,500.00
    Law Library 120 3,500.00
    Office Equipment 130 8,250.00
    Automobile 160 16,500.00
    A/P - Acme Finance Company 205 8,750.00
    A/P - The Stationary Store 210 3,250.00
    Paula Perna, Capital 300 18,750.00
    Paula Perna's opening entry for the new business

    1 Rent Expense 515 500.00


    HST Recoverable 65.00
    Bank 105 565.00
    Paid June rent by cash

    2 Office Supplies 120 375.00


    HST Recoverable 48.75
    A/P- The Stationary Store 210 423.75
    Purchased office supplies on account

    3 Bank 105 226.00


    Fees Earned 405 200.00
    HST Payable 26.00
    Performed services for cash

    5 A/R- R. Spooner 110 395.50


    Fees Earned 405 350.00
    HST Payable 45.50
    Paid on account for legal services

    8 A/P - The Stationary Store 210 1,000.00


    Bank 105 1,000.00
    Payment on account

    10 A/R- T. & R. Builders 115 1,243.00


    Fees Earned 405 1,100.00
    HST Payable 143.00
    Performed legal service on account.

    11 Bank 105 350.00


    A/R- R. Spooner 110 350.00
    Recieved account payment

    15 Car Expense 505 40.00


    HST Recoverable 5.20
    Bank 105 45.20
    Paid for gas by cash

    20 Wages Expense 520 250.00


    Bank 105 250.00
    Paid wages

    24 General Expense 510 65.00


    HST Recoverable 8.45
    Bank 105 73.45
    Paid cash for postage

    24 A/P- Acme Finance 205 320.00


    Bank 105 320.00
    Paid Acme Finance

    30 P. Perna, Drawings 310 400.00


    Car Expense 505 44.25
    HST Recoverable 5.75
    Bank 105 450.00
    Took money out of business and paid car expense Check 36,091.90 36,091.90

    This is Mr. Richmond's answer copy. Do not submit this!!!

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