beginning April 24, 2020. Assume basic payroll deductions for Ontario. They work five days a week (Mon-Fri). oril 17 Record cash sales for the week in the amount of $8,000 + 13% HST. Cost of Goods Sold amounted to $3,450. oril 17 Purchased store furniture and equipment from CCE Inc. for $4,000. Paid $1,500 down and the balance was placed on account. Payments will be $210.00 per month for 12 months. The first payment is due May 1. Note: Use accounts payable for the balance due. Ignore HST and interest here. oril 17 Record sales on account for the week in the amount of $12,000 + HST. Cost of goods sold was $4,450. oril 24 Paid both Jali and Holly their bi-weekly pay. Calculate deductions for CPP, El and Ontario tax for 2020. Record employee portion only. oril 24 Record cash sales for the week in the amount of $14,000 + 13% HST. Cost of Goods Sold amounted to $7,960. oril 24 Declared and paid dividend paid to owner in the amount of $4,000. oril 24 Record sales on account for the week in the amount of $15,000 + HST. Cost of goods sold was $5,975.
beginning April 24, 2020. Assume basic payroll deductions for Ontario. They work five days a week (Mon-Fri). oril 17 Record cash sales for the week in the amount of $8,000 + 13% HST. Cost of Goods Sold amounted to $3,450. oril 17 Purchased store furniture and equipment from CCE Inc. for $4,000. Paid $1,500 down and the balance was placed on account. Payments will be $210.00 per month for 12 months. The first payment is due May 1. Note: Use accounts payable for the balance due. Ignore HST and interest here. oril 17 Record sales on account for the week in the amount of $12,000 + HST. Cost of goods sold was $4,450. oril 24 Paid both Jali and Holly their bi-weekly pay. Calculate deductions for CPP, El and Ontario tax for 2020. Record employee portion only. oril 24 Record cash sales for the week in the amount of $14,000 + 13% HST. Cost of Goods Sold amounted to $7,960. oril 24 Declared and paid dividend paid to owner in the amount of $4,000. oril 24 Record sales on account for the week in the amount of $15,000 + HST. Cost of goods sold was $5,975.
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....
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