Web26 mrt. 2024 · HST paid on purchases and expenses is recoverable. An input tax credit, which is the tax term for HST paid on purchases and expenses, is fully refundable when … WebThe HST program aims to combine both federal GST and PST to become one standard rate to promote consistency and improve the efficiency of sales tax collection. The …
Goldkind Grade 11 Accounting - Google Sites
WebUse the following accounts: A/R Booker Industries A/R Genco Corporation A/R Hall Industries A/P Bell Cellphones A/P Great Stations GST Payable GST Recoverable HST Payable HST Recoverable PST Payable Sales Office Supplies Expense Telephone Expense TRANSACTIONS: October 19 Sales Invoice No. 459 to Booker Industries, … WebThe rate for HST is 13%. Calculate and add the HST on all sales and purchase transactions. The next page number of the journal is 16. (10 marks) Transactions ec 'S 1 Oct 6 10 12 Sales Invoice No. 617 to Jack Morrison, $250.90 plus taxes. Cheque Copy No. 910 to Industrial Suppliers, $500 on account. dayton freight pdf bol
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WebIn Quebec, Revenu Québec administers the GST/HST. If the physical location of your business is in Quebec, contact Revenu Québec at 1-800-567-4692. Also see the Revenu Québec publications IN-203-V, General Information Concerning the QST and the GST/HST, and IN-229-V, The QST and the GST/HST: How They Apply to Non-Profit Organizations … WebAdjusting entries from the accountant are entered using the General Journal Entry window found under the "Company" drop down menu. To enter accounts receivable, you will need an actual customer name ... and you can only enter one AR per journal entry. This restriction is to keep the subledger in balance with the general ledger. Web6 - Purchased supplies for cash for $300 plus HST. 10 - Sold accounting services to Nestle Corp. for $1 500 cash plus HST. 15 - Filed HST return to the government for the month of February. Enclosed a cheque with the remittance. Here are the account balances: HST Payable 1500.00 HST Recoverable 650.00 HST Owing/ (Recoverable) $850.00 17 - … dayton freight oshkosh wi