On 20 June Yin Repaired Yan's Computer and Charged Her

question 27

Short Answer

On 20 June Yin repaired Yan's computer and charged her $660 cash including GST.The general journal entry to record the transaction is: a. $\begin{array}{cr}&\$ & \$ \\&\mathrm{DR} & \mathrm{CR}\\\text { Cash at bank } & 660 \\\text { GST Collections } && 60 \\\text { Income from repairs } &&600\end{array}$

b. $\begin{array}{lr}\text { Cash at bank } & 600 \\\text { GST Collections } & 60 \\\text { Income from repairs } &&660\end{array}$

c. $\begin{array}{l}\text { Cash at bank } &660\\\text { GST Outlays } & &60 \\\text { Income from repairs } & &600\end{array}$

d. $\text { None of the above }$

---

Definitions:

Time Series Forecasting Methods

Statistical techniques used to analyze time-ordered data points in order to predict future values based on past trends and patterns.

Qualitative Forecasting Methods

Forecasting techniques based on judgment and opinion, rather than mathematical models, often used when precise data is unavailable.

Causal Forecasting Methods

Techniques that predict future events based on identified relationships between dependent and independent variables, taking into account factors that cause variations in data.

Simulation Forecasting Methods

Techniques that use models to predict future outcomes based on varying inputs and scenarios, helping in decision-making processes.