From the following statements which give the cumulative effects of individual transactions, you are required to state
Question:
From the following statements which give the cumulative effects of individual transactions, you are required to state as fully as possible what transaction has taken place in each case. That is, write descriptions similar to those given in questions. The first column of data gives the opening position. Each of the other columns represents a transaction. It is these transactions (A–I) that you are to describe.
Transcribed Image Text:
Transaction: Assets Land and buildings Motor vehicles Office equipment Stock Debtors Bank Cash Liabilities Capital Loan from Lee Creditors £000 450 95 48 110 188 27 15 933 621 200 112 933 A £000 450 100 48 110 188 22 15 933 B £000 450 100 48 110 188 22 11 929 с £000 450 100 48 110 188 172 11 1,079 D E F £000 £000 £000 G £000 575 575 275 275 100 100 100 100 48 48 48 48 110 110 110 110 188 108 108 108 108 47 127 427 77 11 11 11 1,079 1,079 H £000 621 621 350 350 108 275 100 48 110 77 3 621 621 621 621 200 200 350 350 112 108 108 108 108 108 933 929 1,079 1,079 1,079 1,079 729 721 621 621 1 100 I 10 万 10 3 3 20 73 16-06|| £000 275 1,079 729 721 716 48 93 77
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To analyze the transactions A through I we will look at the differences between the opening balances and the subsequent columns identifying what chang...View the full answer
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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