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1 1 - 2
PST/GST Comprehensive Exercises
Exercises
On October 15, Jay Berg purchased computer equipment with a cost of $5,000 (before sales
taxes) from Delton Suppliers, terms 2/10, n30. The cost of this sale to Delton was $3,400. Berg
paid the amount owing on October 25.
Exercise 11-1
Required
Using the PST/GST information in Exhibit 11.6 on page 623 of the textbook, prepare the journal
entries on October 15 and October 25 as they would be recorded by each of
a. Jay Berg and
b. Delton Suppliers
for each region of Canada. The following format might be useful in preparing your answers.
Date
Account Descriptions
AB/NT/NU/YT
MB
PE
QC
SK
1
BC
NB/NS/NL/ON
2
Extend Your Knowledge 11-2
PST/GST Comprehensive Exercises
Exercise 11-2
On November 1, Ray Wilson purchased furniture for $10,000 (before sales tax) from Douglas
Interiors, terms n30. The cost of this sale to Douglas was $7,000. On November 3, Wilson
returned $2,000 of the merchandise inventory to Douglas because it was damaged (Douglas
scrapped the damaged goods). Wilson paid the balance owing on November 16.
Required
Using the PST/GST information in Exhibit 11.6 on page 623 of the textbook, prepare the journal
entries on November 1, 3, and 16 as they would be recorded by each of
a. Ray Wilson and
b. Douglas Interiors
for each region of Canada. The following format might be useful in preparing your answers.
Date
Account Descriptions
AB/NT/NU/YT
MB
PE
QC
SK
BC
NB/NS/NL/ON