Question

8 Purchased 8 units BG90 plasma televisions from Mega Tech at $1,496 each (includes 10% GST), Purchase #331, Supplier Inv#216.

10 - Made a cash sale to Hypertronics, Invoice #3595 for the following items:

• 2 units BG90 plasma televisions for $2,310 each (includes 10% GST)
• 11 units BlueBerry phones for $1,320 each (includes 10% GST).

Received Cheque No. 654 for $19,140 from this customer. Note that MYOB automatically assigns ID #CR000005 to this cash receipt.

13Received a purchase order from Turbo Tech, Customer PO#9579, Invoice #3596. The following items are required to be shipped by 23 January 2020:

• 6 units BG90 plasma televisions at $2,310 each (includes 10% GST)
• 9 units Swish Phones at $2,750 each, (includes 10% GST).

15-Purchased 6 units ZII game consoles from Mega Tech for a list price of $1,210 each (includes 10% GST), Purchase #332, Supplier Inv#424. Issued Cheque No. 4034 for the full payment of this purchase.

15--Issued Cheque No. 4035 for $7,700 (includes 10% GST) to pay ZNG Property Group for three month's worth of rent in advance.

17--Sold merchandise on credit to Radio Hut, Invoice #3597. The items sold were:

• 7 units BlueBerry phones for $1,320 each (includes 10% GST)
• 2 units ZII game consoles for $1,870 each (includes 10% GST).

17--Ordered 9 units Swish Phones for $1,782 each (includes 10% GST), from Pony, Purchase #333, Supplier Inv#SO646.

19--Received 9 units Swish Phones, Purchase #333. These items were ordered from Pony for $1,782 each (includes 10% GST), Supplier Inv#SO646.

general journal and general ledger?

general journal

Answer 1

	Journal Entries:
	Account	Debit	Credit	Comments
8	Stock Account	$             10,880.00		Cost exclusive of GST is $11968/1.1
	GST Input Account	$                1,088.00
	Accounts Payable		$ 11,968.00
	Narration:
	Purchased 8 Units @$1496 (Inclusive of GST 10%); Supplier : Mega Tech; Purchase #331; Supplier Invoice#216
10	Receivables Account	$             19,140.00		2Units @ $2310+ 11 Units @ $1320
	Income Account		$ 17,400.00	Value excluding GST is $19140/1.1
	GST Payable Account		$    1,740.00
	Narration:
	Sold 2Units BG90 Plasma Units @ $2310+ 11 Units of Blueberry Phones @ $1320 (Value includes 10% GST) Customer : Hypertronics ; Invoice #3595
10	Bank Account	$             19,140.00
	Receivables Account		$ 19,140.00
	Narration:
	Customer : Hypertronics ; Cheque No. 654; Receipt #CR000005
13	Receipt of Purchase Order from Customer will not create any journal entry.
	In the month of January 2020, when goods are Shipped, the Journal Entries will be:
	Receivables Account	$             38,610.00		6 Units BG90 Plasma Units @ $2310+ 9 Units of Swiss Phones @ $2750 (Value includes 10% GST)
	Income Account		$ 35,100.00	Value excluding GST is $38610/1.1
	GST Payable Account		$    3,510.00
	Narration:
	Sold 6 Units BG90 Plasma Units @ $2310+ 9 Units of Swiss Phones @ $2750 (Value includes 10% GST); Customer : Turbo Tech ;PO #9579; Invoice #3596
15	Stock Account	$                6,600.00		Cost exclusive of GST is $7260/1.1
	GST Input Account	$                   660.00
	Accounts Payable		$    7,260.00	6 Units @$1210 (Inclusive of GST 10%)
	Narration:
	Purchased ZII Game Console 6 Units @$1210 (Inclusive of GST 10%); Supplier : Mega Tech; Purchase #332; Supplier Invoice#424
	Accounts Payable	$                7,260.00
	Bank		$    7,260.00
	Narration:
	Supplier: Mega Tech; Supplier Invoice #424; Cheque No 4034
	Rent In Advance	$                7,700.00
	Bank		$    7,700.00
	Narration:
	Supplier: ZNG Property Group; Cheque No 4035
17	Receivables Account	$             12,980.00		7 Units Blueberry Phones @ $1320+ 2 Units of ZII Game Consoles @ $1870 (Value includes 10% GST)
	Income Account		$ 11,800.00	Value excluding GST is $12980/1.1
	GST Payable Account		$    1,180.00
	Narration:
	Sold 7 Units Blueberry Phones @ $1320+ 2 Units of ZII Game Consoles @ $1870 (Value includes 10% GST); Customer : Radio Hut ;Invoice #3597
	Comments:
	Ordered 9 units Swish Phones for $1,782 each (includes 10% GST), from Pony, Purchase #333, Supplier Inv#SO646: No Journal Entry as there will be no entry on placing order.
19	Stock Account	$             14,580.00		Cost exclusive of GST is $16038/1.1
	GST Input Account	$                1,458.00
	Accounts Payable		$ 16,038.00	9 units Swish Phones for $1,782 each (includes 10% GST)
	Narration:
	Purchased 9 units Swish Phones for $1,782 each (includes 10% GST); Supplier : Pony; Purchase #333; Supplier Invoice#SO646