ROWS PART B: THINKING (7 marks) 1. Following are an HST Payable account and an HST Refundable account covering the month of June. Colum HST Payable HST Table Jun 4 45 286 295 Aug 5 12 7 25 Table C 180 22 14 97 Outil a) How much should be remitted to the federal government for the month of August? Show your work. (2 marks) Gridline b) In General Journal form, prepare the entry to remit the August tax to the federal government. (5 marks) Altern Date Particulars PR DR CR Row & CC Height Width O F3 F2 DOO 000 F4 DU 8 57 a 0% Pages File Edit Insert Format Arrange View Share Window Help HST in Class Assignment Version - Edited 120% EE View Zoom insen Table Chart Text Media Comment Collat PART C: APPLICATION (10 marks) 1. Fabs Products offers a variety of credit terms to customers. Record the following transactions for February on page 16 of a General Journal. All sales are subject to 13% HST. (1 mark per transaction) Feb. 2 Sold merchandise to M. Attentio for $700 plus taxes, Invoice 1253. 4 Issued Cheque 566 to pay $90.40 ($80.00 plus $10.40 HST) delivery charges for the merchandise shipped to R. Dumont Co. 7 The weekly cash register tape showed cash sales $5500.00, HST $715, total cash $6215. 9 10 HE 11 14 Sold merchandise to F. Tomassi for $580.00 plus taxes, Invoice 123. Refunded $55.40 cash to a customer who made a cash purchase on Feb 7. ($6.37 HST, $49.03 merchandise). Received Cheque 228 from ). Diana for $195.00 in full payment of his account. Refunded cash to a customer for goods returned. The original sale was $93 plus HST $12.09, total $105.09. Received Cheque 827 from M. Attanalo in full payment of Invoice 1253. HST was remitted to the federal government by Cheque 565 for the month of February. The HST Payable account balance was $1750.00, and the HST Refundable account balance was $2230.00. 25 Co 29 Tal Grid go 882 FF 55 # $ 4 2 3 5 & 7 6 8 W E R T Y U S D F G H ROWS PART B: THINKING (7 marks) 1. Following are an HST Payable account and an HST Refundable account covering the month of June. Colum HST Payable HST Table Jun 4 45 286 295 Aug 5 12 7 25 Table C 180 22 14 97 Outil a) How much should be remitted to the federal government for the month of August? Show your work. (2 marks) Gridline b) In General Journal form, prepare the entry to remit the August tax to the federal government. (5 marks) Altern Date Particulars PR DR CR Row & CC Height Width O F3 F2 DOO 000 F4 DU 8 57 a 0% Pages File Edit Insert Format Arrange View Share Window Help HST in Class Assignment Version - Edited 120% EE View Zoom insen Table Chart Text Media Comment Collat PART C: APPLICATION (10 marks) 1. Fabs Products offers a variety of credit terms to customers. Record the following transactions for February on page 16 of a General Journal. All sales are subject to 13% HST. (1 mark per transaction) Feb. 2 Sold merchandise to M. Attentio for $700 plus taxes, Invoice 1253. 4 Issued Cheque 566 to pay $90.40 ($80.00 plus $10.40 HST) delivery charges for the merchandise shipped to R. Dumont Co. 7 The weekly cash register tape showed cash sales $5500.00, HST $715, total cash $6215. 9 10 HE 11 14 Sold merchandise to F. Tomassi for $580.00 plus taxes, Invoice 123. Refunded $55.40 cash to a customer who made a cash purchase on Feb 7. ($6.37 HST, $49.03 merchandise). Received Cheque 228 from ). Diana for $195.00 in full payment of his account. Refunded cash to a customer for goods returned. The original sale was $93 plus HST $12.09, total $105.09. Received Cheque 827 from M. Attanalo in full payment of Invoice 1253. HST was remitted to the federal government by Cheque 565 for the month of February. The HST Payable account balance was $1750.00, and the HST Refundable account balance was $2230.00. 25 Co 29 Tal Grid go 882 FF 55 # $ 4 2 3 5 & 7 6 8 W E R T Y U S D F G H