I have a question Textbook Exercise 6.11
If you look at the General Ledger, in the GST account, my credit and debits were as follows:
DR
July. 31 - Bank - 120
July. 31 - Creditors Control - 520
July. 31 - Balance - 1170
______
1810
______
CR
July. 1 - Balance - 610
July. 31 - Bank - 400
July. 31 - Debtors Control - 800
________
1810
________
Aug. 1 - Balance - 1170
This does not match the solutions, and i cannot figure out why..
(solution attached)
EDIT: Nvm, i completely missed the GST settlement in the purchases journal, it camouflaged so well.
However, I've got another question, if you could refer to the Capital account (which i've attached below) the solutions have omitted a DR of 1000, as the owner withdraws 1000 in the CPJ, is there any reason as to why this is?
Anyways, the next exercise has done the same thing, I thought Drawings reduced capital?