Prepare General Journal entries for the month of June 2013 for the following unr

Question

Prepare General Journal entries for the month of June 2013 for the following unrelated situations. Required: a) Stationery of $2,200 purchased on credit from Print It Pty Ltd, incorrectly debited to Purchases. The cost includes GST of $200. GST was correctly recorded. b) A cheque for $1,760 including GST was posted to the Advertising account instead of the Telephone account. The GST was correctly recorded. c) A wages cheque for $331 has been incorrectly entered into the cash payments journal as $313. d) Rent received of $35,200 including GST was entered as discount received The GST was correctly recorded e) A printer purchased on credit from Kyle Ltd has been expensed against Stationery instead of Office Equipment. The cost was $3,080 including GST. The GST was correctly recorded

Explanation / Answer

a) Stationery expenses Dr 2000         Purchases Cr 2000 ( To record rectification of stationer expenses 2200-200) b) Telephone expenses Dr 1760         Advertising expenses Cr 1760 ( To record rectification of telephone expenses) c) Wages Dr 18             Cash Cr 18 ( To record rectification of wrong amount 331-313) d) Office equipment Dr 3080             Stationery expense Cr 3080 ( To record rectification of incorrect purchase of equipment)

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