Accounting for purchases and sales SUPPLIER AXILIARY LOG ric Dejardins Inc. is a young company working in
Question:
Accounting for purchases and sales SUPPLIER AXILIARY LOG ric Dejardins Inc. is a young company working in the sale of musical instruments. The company uses a periodic inventory system to account for its merchandise inventory. All purchases are before HST Below are the transactions made with its supplier 2 PAC: N.B. All amounts indicated are BEFORE harmonized sales tax, unless otherwise indicated 1) March 2: Purchase of Guitars on credit for $16,000 with a condition of 2/10, n/30 2) March 3 Full payment of amount due to 2 PAC Inc. 3) March 6 Purchase of maintenance tools on credit for $1,250. condition 2/10, n/30
4) March 15 return of damaged tools in the amount of $980
How much is due at the end of the month?
2PAC Inc. | ||||
Date | Rfrence | Debit | Credit | Sold |
01-march | ||||
02-march | ||||
03-march | ||||
06-march | ||||
15-march | ||||
Sold au 31/03 |
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse