DAL inc. is an HST registrant and started business on Feb 1, 2021. In February, they purchased
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DAL inc. is an HST registrant and started business on Feb 1, 2021. In February, they purchased $100,000 of inventory, had sales of $125,000, and purchased $30,000 of equipment. All purchases and sales were subject to 15% HST.
i. How much HST is owed/owing (refund) for February?
ii. Prepare the journal entries to record the transactions for February.
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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