DATE 2012 Feb

GENERAL JOURNAL PARTICULARS 7 Bank Sales HST Payable Cash sales slip No. 238 to A. Jones 7 A/R - M. Smith Sales HST Payable Sales invoice No. 751 8 Sales HST Payable Bank Cash refund 10 Bank HST Recoverable A/P - Toy Manufacturers Purhcase invoice No. 4873 11 A/P - Toy Manufacturers Purchases HST Recoverable Returned for credit

PR

Page DEBIT 96.05

100 CREDIT

85.00 11.05

169.50 150.00 19.50

25.00 3.25 28.25

1,250.00 162.50 1,412.50

452.00 400.00 52.00

DATE 2012 Feb

GENERAL JOURNAL PARTICULARS 7 Bank Sales HST Payable Cash sales slip No. 238 to A. Jones 7 A/R - M. Smith Sales HST Payable Sales invoice No. 751 8 Sales Returns and Allowances HST Payable Bank Cash refund 10 Bank HST Recoverable A/P - Toy Manufacturers Purhcase invoice No. 4873 11 A/P - Toy Manufacturers Purchase Returns and allowances HST Recoverable Returned for credit

PR

Page DEBIT 96.05

100 CREDIT

85.00 11.05

169.50 150.00 19.50

25.00 3.25 28.25

1,250.00 162.50 1,412.50

452.00 400.00 52.00

DATE OF INV Jan 21 March 15 June 3 August 11 September 29 November 17 December 10

TOTAL OF INV 1,500.00 825.00 285.00 915.50 278.65 4,300.50 1,035.75

TERMS 2/10, n30 1/15, n60 3/20, n45 2/10, n60 1/10, n30 2/10, n30 Net 30

DATE PAYMENT IS MADE Jan 30 mar 29 June 25 Aug 19 Oct 8 Nov 28 Dec 29

AMOUNT OF PAYMENT REQ'D 1,470.00 816.75 285.00 915.50 275.86 4,300.50 1,035.75

Q4 a b c d e

Net sales - cost of goods sold = GROSS PROFIT SALES - Sales Returns and Allowances - Sales Discounts = Net Sales Net Income + Operating Expense = GROSS PROFIT Cost of Goods Sold + Ending Inventory = BEGINNING INVENTORY Beginning Inventory + PURCHASES - Purchases Returns and Allowances Purchase Discounts + Transportation-in = COGS

Missing Word GROSS PROFIT SALES GROSS PROFIT BEGINNING INVENTORY PURCHASES

Q5

MONTH Jan Feb March April

BEGINNING INVENTORY PURCHASES 5,000 1,000 4,000 3,000 3,500 2,900 3,100 5,600

ENDING PURCHASES PURCHASES TRANSPORT- INVENTO R&A DISCOUNTS IN RY 4,000 3,500 300 100 190 3,100 600 150 320 4,700

Q6 Q7

Beginning Inventory + Purchases - Purchases Returns and Allowances - Purchase Discounts - Transport-in - Ending Inve Income Statement - Revenue portion REVENUE Sales Less: Sales Discounts Less: Returns and Allowances Total Revenue

$ $ 150 350

31,000 500 $ 30,500

COGS 2,000 3,500 2,710 2,930 Transport-in - Ending Inventory = Cost of Goods Sold

Source Document 1 - SALES INVOICE General Journal PARTICULARS 4 A/R - Woodroffe High School Sales Invoice No. 26 Page DEBIT 600 600 310 CREDIT

DATE 2012 Jan

PR

Source Document 2 - CREDIT INVOICE General Journal PARTICULARS 10 Sales Returns and Allowances A/R - Woodroffe High School Credit Invoice No. 18 Page DEBIT 100 100 310 CREDIT

DATE 2012 Jan

PR

DATE 2012 March

General Journal PARTICULARS 1 Cash Sales Cash register summary 2 A/R - Nepean Hockey Association Sales Sales invoice No. 301 2 A/R - Laurier High School Sales Sales invoice No. 302 2 A/R - S. Edgerton Sales Sales invoice No. 303 3 Sales Returns and Allowances Cash Cash refund slip No. 29 8 Cash Sales Cash register summary 9 Sales Returns and Allowances A/R - Nepean Hockey Association Credit invoice No. 89 10 A/R - Kanata Tennis Club Sales Sales invoice No. 304 10 A/R - H. Burger Sales Sales invoice No. 305 15 Cash A/R - Nepean Hockey Association Cheque 483 15 Cash A/R - S. Edgerton Cheque 111

PR

Page DEBIT 1,200

350 CREDIT

1,200

1,950 1,950

850 850

85 85

75 75

2,120 2,120

250 250

875 875

55 55

1,700 1,700

85 85

Invoice Date March 5 6 8 14 17 19 20 25

Terms EOM n/30 n/60 15 EOM 2/10, n/30 COD Receipt of inv 1/10, n/30

Payment Date March 31 April 6 May 8 April 15 April 17 time of delivery April 25

Date March

Amount of Invoice 1 $ 2 5 12 25 100.00 500.00 300.00 250.00 175.00

Terms 2/10, n/30 1/15, n/30 3/10, n/60 2/10, n/30 1/10, n/60

Discount Date March 11 March 17 March 15 March 22 April 4

Amount to be Paid $

Amount of Discount 2.00 5.00 9.00 5.00 1.75

98.00 $ 495.00 291.00 245.00 173.25

DATE Jan

General Journal PARTICULARS 10 A/R - C. Beaulne Sales Sale invoice No. 703, terms 2/10, n/30 10 A/R - L. Trenholme Sales Sale invoice No. 704, terms 2/10, n/30 10 A/R - P. Garner Sales Sales invoice No. 705, terms 2/10, n/30 16 Cash Sales Discounts A/R - L. Trenholme Received cheque for invoice 704 20 Cash Sales Discounts A/R - P. Garner Received cheque for invoice 705 25 Cash A/R - C. Beaulne Received cheque for invoice 703

PR

Page DEBIT 507.00

73 CREDIT 507.00

109.00 109.00

375.00 375.00

106.82 2.18 109.00

367.50 7.50 375.00

507.00 507.00