Homework Sourse6 Aspire Services Ltd made the following transactions during
6. Aspire Services Ltd made the following transactions during July 2018.
2018
July 12 July 15 July 26 July 30 July 31
Credit sales GST inclusive $4840.
Cash sales GST inclusive $1320.
Purchased supplies on account GST inclusive $1760 Credit sales GST inclusive $5060
Paid GST due to Australian Tax Office.
Required
Use the general journal to record the above transactions.
6. Aspire Services Ltd made the following transactions during July 2018.
2018
July 12 July 15 July 26 July 30 July 31
Credit sales GST inclusive $4840.
Cash sales GST inclusive $1320.
Purchased supplies on account GST inclusive $1760 Credit sales GST inclusive $5060
Paid GST due to Australian Tax Office.
Required
Use the general journal to record the above transactions.
6. Aspire Services Ltd made the following transactions during July 2018.
2018
July 12 July 15 July 26 July 30 July 31
Credit sales GST inclusive $4840.
Cash sales GST inclusive $1320.
Purchased supplies on account GST inclusive $1760 Credit sales GST inclusive $5060
Paid GST due to Australian Tax Office.
Required
Use the general journal to record the above transactions.
Solution
July 12 Accounts Receivable A/C dr 4840
To Sales 4400(4840/1.10)
To GST 440
July 15 Cash A/C dr 1320
To Sales 1200(1320/1.10)
To GST 120
July 26 Inventories A/C dr 1600(1760/1.10)
GST dr 160
To Accounts payable 1760
July 30 Accounts Receivable dr 5060
To Sales 4600
To GST 460
july 31 GST A/C dr 860
To Cash 860
