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Question - Lisa Ltd lodges quarterly business activity statements with the taxation authority.
Narrations are not required for the following entries:
Required -
1. Record the journal entries during the March 2019 quarter for sales $6600 (including GST) and inventory purchase $1210 (including GST). Note: Both sales and purchases are on account. Perpetual inventory system is applied.
2. What is the journal entry to discharge the GST liability?
Santana Rey, owner of Business Solutions, decides to diversify her business by also manufacturing computer workstation furniture.
Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable.
a proposal factory expansion project has an expected has an expected net present value of 100000 with a standard
Journal entry to dispose of underapplied manufacturing overhead: DR CR Part (iv) What affect would this entry have on net income for the period?
what would the cost schedule of cost of goods manufactured look like and what does the income statement for cost of
What is the control requirement of § 351? Describe the effect of the following in satisfying this requirement: A shareholder renders only services to the corporation for stock.
Employees are classified as exempt or non-exempt. There are also statutory employees and independent contractors
useful life of four years after which it will have an expected residual value of $6,100. The company uses the straight-line method
Identify the taxpayers who must pay tax on the partnership income and determine how much income must be reported by each
Kirkland Theater sells season tickets for six events at a price of $180. Calculate the theater's earned revenue after the first three events have been presented
Explain advantages of understanding accounting as it relates to your current or future position. Consider careers in management, sales and business operations.
Wildhorse Co. uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become uncollectible.
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