Why might GST amounts in the ledger differ from the GST report -
A)GST paid is recorded from the total in the purchases journal
B)there is an outstanding GST account balance before the first journal entry
C)GST charged is recorded from the sales journal
D)the GST ledger and GST report are always in balance

Question

Quizplus · Accepted Answer

An outstanding GST account balance before the first journal entry can cause discrepancies between the ledger and the GST report, as it may not be reflected in the current period's transactions.

Why Might GST Amounts in the Ledger Differ from the GST