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-   -   Perpetual system and GST (https://www.askmehelpdesk.com/showthread.php?t=660391)

  • May 14, 2012, 11:29 PM
    mcmonkey107
    Perpetual system and GST
    All credit sales are made on the folllowing terms: 2/10, n/30

    June 1 hayes invested $160 000 cash and $42000 of store equipment into the business. The store equipment is to be depreciated evenly over 7 years.

    June 2 purchased an inventory of souvenir footy shirts from B . JUDD on credit for 48000 plus GST, terms, 2/15, n/30

    June 4 purchased additional inventory of footy shirts from Hall Enterprises on credit for $33000 plus GST, terms, n/30

    Anyone know how to record using perpetual system?? PLEASEEEE!

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