Question

25 transactions with gst with their journal entries, ledger, trial balance and financial statements with adjustment

Answer 1

Example of transactions in Statement of Accounts

Explanation:

Profit & Loss Statement for Company XYZ, for the year ended July 31, 2020.

                       Total Revenue                        $100,000

                       Cost of Goods Sold               ($ 20,000)

                       Gross Profit                             $ 80,000

                       (less)Operating Expenses    

                                                   Salaries          $15,000  

                                                   Rent               $10,000

                                                  Utilities            $10,000

                         Total Operating Expenses    ($ 30,000)

                          Net Profit                                $ 30,000

• The above mentioned is a format of statement of accounts in which some transactions are listed.
• In a trial balance two column debit and credit transactions are recorded after which a Profit and loss account is made.

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Answer 2

Explanation:

25 journal entries with GST

ladger trail balance

balance sheet