general ledger

Anonymous
timer Asked: Nov 17th, 2016

Question description

I have the first part of the assignment done, its just the general ledger am having trouble with. Thanks

U3A7 Instructions 1. Record the journal entries. HST = 13% 2. Do an equality check to ensure that debits equal credits in the journal. 3. Set up the ledger using the Chart of Accounts. 4. Record the opening balances from the Trial Balance in the ledger. 5. Post the journal entries to the ledger and use formulas to create running balances. 6. Do an equality check to ensure that the debits equal credits in the ledger. General Journal Date Particulars P.R. Debit 101 250 405 135.60 7 Wages Bank 510 101 475.00 7 Bank A/P - Gravel Co. on account 205 101 1,500.00 Bank A/R - P.Brown on account 110 250 370.00 HST Recoverable Supplies on account 255 205 A/R - P.Brown HST Payable Revenue 110 250 405 25 C. Fitzgerald, Drawings Bank 310 101 2015 Oct Page: 33 4 Bank HST Payable Revenue 10 15 21 Credit 15.60 120.00 475.00 1,500.00 370.00 65.00 500 565.00 141.25 16.25 125.00 350.00 350.00 These are pencil footings that debits equal credits. 3,536.85 3,536.85 General Journal Date Particulars 2015 Oct 30 30 Page: 34 P.R. Debit HST Payable HST Recoverable Bank 250 255 101 245.00 HST Recoverable Auto Expense Bank paid by cheque 505 255 101 6.24 48.00 Credit 43.00 202.00 54.24 299.24 299.24 TRANSACTIONS FOR OCTOBER 2015 Oct-04: Completed a tattoo of an eagle on the forearm of Tyler Gill for cash. Sale Oct-07: Paid wages for previous week, $475.00 Oct-07: Paid Gravel Co. $1500.00 on account. Oct-10: Received payment in full from Paul Brown on account. (See balance in Ledger.) Oct-15: Purchased Supplies for $500.00 plus HST from Gravel Co on account. Oct-21: Completed a tattoo of a dragon on the forearm of Paul Brown. Sale Oct-25: Charlie, the owner, withdrew $350.00 cash for personal use. Oct-30: Paid the HST owing from September by cheque. (Use the September HST balances found in the ledger ) Oct-30: Purchased gas for the company vehicle plus HST. Paid by cheque. These are pencil footings - just a check to ensure that debits equal credits. TRANSACTIONS FOR OCTOBER 2015 Completed a tattoo of an eagle on the forearm of Tyler Gill for cash. Sale - $120.00 plus HST. Paid wages for previous week, $475.00 Paid Gravel Co. $1500.00 on account. Received payment in full from Paul Brown on account. (See balance in Ledger.) Purchased Supplies for $500.00 plus HST from Gravel Co on account. Completed a tattoo of a dragon on the forearm of Paul Brown. Sale - $125.00 plus HST on account. Charlie, the owner, withdrew $350.00 cash for personal use. Paid the HST owing from September by cheque. (Use the September HST balances found in the ledger tab. Purchased gas for the company vehicle - $48.00 plus HST. Paid by cheque. just a check to ensure ts equal credits. Fitzgerald Tattoo Artist General Ledger October 2015 101 Bank Date Particulars 2015 balance forward Oct Date 2015 b/f Date 2015 b/f Date 2015 b/f P.R. Debit Credit Balance 2,900.00 Particulars P.R. Debit Credit Balance Particulars P.R. Debit Credit Balance Particulars P.R. Debit Credit Balance Date 2015 Particulars P.R. Debit Credit Balance 250 HST Payable Date Particulars 2015 b/f September 30 P.R. Debit Credit Balance 255 HST Recoverable Date Particulars 2015 b/f September 30 P.R. Debit Credit Balance Particulars P.R. Debit Credit Balance Particulars P.R. Debit Credit Balance Date 2015 Date 2015 b/f b/f Date 2015 Particulars P.R. Debit Credit Balance Date 2015 Particulars P.R. Debit Credit Balance Date 2015 Particulars P.R. Debit Credit Balance - - - Chart of Accounts No. 101 110 115 120 205 250 255 305 310 405 505 510 Account Bank AR – P. Brown Supplies Equipment A/P – Gravel Co. HST Payable HST Recoverable C. Fitzgerald, Capital C. Fitzgerald, Tattoo Revenue Auto Expense Wages Fitzgerald, Tattoo Artist Trial Balance As at September 30, 2015 No. Account 101 110 115 120 205 250 255 305 310 Debit Credit Bank 2900 AR – P. Brown 370 Supplies 1420 Equipment 9075 A/P – Gravel Co. 2030 HST Payable 245 HST Recoverable 43 C. Fitzgerald, Capital 11533 C. Fitzgerald, Drawings Totals 13808 13808

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