You will need to use your accounting knowledge learned in Unit 3 to:

create a General Journal; including calculating HST;

post to a Ledger

creating a Trial Balance

Here are the following transactions for the month of January, 20--. You choose what the company name is going to be.

You personally invested $5,000 into the business.

Your presentation and marketing plan that you submitted to the Summer Company resulted in a grant for $3,000 that you can use towards your business. Great Work! Make sure you record it.

You purchase a tablet for $800, plus HST.

You purchase supplies for $150, plus HST.

You have your first customer. You complete the services and earn $450 in revenue and also charge HST (plus HST, you need to calculate).

You have your second customer, and complete $600 of services to be paid later, plus HST.

You now buy a piece of equipment for your company. Automatic Beader -$80, plus HST.

You need some personal cash. You withdrawal $300 from the business.

A repeat customer, this time they pay in cash, $700 plus HST.

Your second customer gives you $200 for services already performed; they will pay the rest later.

Your company earned more revenue. Paid cash! $1,500 plus HST.

You needed to advertise, and paid $250 cash for advertising, plus HST.

You need to prepare a remittance to the government; make sure you look at both HST Recoverable and Payable!