Posting Test – Thursday
Post Journal Entries to the Ledger Take off a Trial balance
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Quiz – Source Documents
Quiz – Journal Entries and Source Documents
Working with Source Documents and the HST
Work in teams of three to complete Comprehensive Exercise 5 Page 217 Quiz Friday – Source Documents/Journal Entries/HST
Continue reading »Accounting for Sales and Value Added Taxes
The HST Discussion: the recording of sales taxes in other provinces using the PST and GST Discussion: How is the HST is recorded in the books of the seller and the purchases? Remitting the HST Additional Practice and Review: Read 197-204 Review Questions: 1-18 Exercises: 3-4
Continue reading »In Class Assignment
Class Work: Read 196-204 Review Questions 1-18 Exercises 3 (pages 206-207) Additional Practice and Review: If you are done complete Exercise 4 Part B only
Continue reading »Source Documents Work Period
Complete and submit Comp. Exercise 7 Page 167 (make sure both partners names are on it.) Examine each source document in your readings (pages 184-192) and copy the journal entries associated with it Record new GAAP – the cost principle-what is the corresponding IFRS rule? Additional Class Work: Read 184-192 Review Questions 1-21 Exercises 1-5 (pages 192-196)
Continue reading »The Journal
Questions to focus on: What is the journal? Why is it needed? The 2 column journal The steps in preparing a journal entry The Opening Entry Additional Practice and Review: Exercise 1 and 2 Page 181 (See bottom of page 179 for an example of an opening entry) Please watch the following: Video Resources: The Journal/Ledger/Debits and Credits
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