Accounting HOMEWORK Business & Finance homework help

ACCOUNTING EXPERT

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Chapter 6&7 Assignment
Name:

Your Task: You will journalize, post, create a trial balance and income statement using the
transactions below.

Jack Whitcombe and Sons is a consultant engineering firm. The accounts for the firm are:

Bank HST Payable Interest Earned
A/R—Morrison
A/R – Mahoney

HST Recoverable Office Expense

Supplies Mortgage Payable Rent Expense
Office Equipment J. Whitcombe, Capital Wages Expense
Automobile J. Whitcombe, Drawings Car Expense
A/P—Grand
Stationers
A/P – Industrial
Suppliers

Fees Earned

Journalize the following transactions, using the general journal page provided. Calculate taxes using the
HST system where HST is 13%. Do not provide explanations. The page number of the journal is 10.

Transactions
Oct. 2 Cash Sales Slip

No. 102 to S. Stewart, $102.50 plus HST.

6 Sales Invoice
No. 617 to Jack Morrison, $250.90 plus HST.

10 Cheque Copy
No. 910 to Industrial Suppliers, $500 on account.

12 Cash Receipt
From Jack Mahoney, $322.50 on account.

18 Purchase Invoice
From Grand’s Stationers, $60.50 for office supplies plus HST

24 Bank Credit Memo
$31.90 for bank interest earned.

30 Cheque Copy
No. 912 Paid $700 for wages.

General Journal

Date Particulars P.R Debit Credit

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General Ledger
Account Name: Bank Account No. 105

Date Account PostRef Debit Credit Dr/Cr Balance

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Account Name: Accounts Receivable – Morrison Account No. 110
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Accounts Receivable – Mahoney Account No. 115
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Supplies Account No. 125
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Equipment Account No. 130
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Automobile Account No. 135
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Accounts Payable – Grand Stationers Account No. 205
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Accounts Payable – Industrial Suppliers Account No. 210
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: HST Payable Account No. 215

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Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: HST Recoverable Account No. 220
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Mortgage Payable Account No. 225
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: J.Whitcombe, Capital Account No. 301
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: J. Whitcombe, Drawings Account No. 305
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Fees Earned Account No. 401
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Interest Earned Account No. 405
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Office Expense Account No. 500
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Rent Expense Account No. 505Date Account Post Debit Credit

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Ref Dr/Cr Balance

Account Name: Wages Expense Account No. 510
Date Account PostRef Debit Credit Dr/Cr Balance

Account Name: Car Expense Account No. 515`
Date Account PostRef Debit Credit Dr/Cr Balance

______________________________

_________Trial Balance________

________________________________

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Income Statement:

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