Prepare ledger accounts for the transactions of Peter Gold, furniture supplier, listed in question A6.4. Data From
Question:
Prepare ledger accounts for the transactions of Peter Gold, furniture supplier, listed in question A6.4.
Data From Question A6.4:
The following list of transactions relates to the business of Peter Gold, furniture supplier, during the month of April. Analyse each transaction to show the two aspects of the transaction.
Transcribed Image Text:
Business transactions and events (nature of the entity: wholesale trader) Date Amount Apr. 1 The owner pays cash into a bank account for the business. 60,000 Apr. 2 The business acquires buildings for cash. 20,000 Apr. 4 The business acquires equipment for cash. 12,000 Apr. 6 The business purchases an inventory (stock) of goods for cash. 8,500 Apr. 7 The business purchases an inventory (stock) of goods on credit from 7,000 R. Green and receives an invoice. Apr. 11 The business pays R. Green in cash for the goods it acquired on 7,000 credit. Apr. 14 The business pays a gas bill in cash. 400 Apr. 17 Items costing £5,500 are removed from the store because sales have been agreed with customers for this date. 5,500 Apr. 17 The business sells some of the goods removed from store for cash of £6,000. 6,000 Apr. 17 The business sells the remainder of the goods removed from store 4,200 on credit to P. Weatherall and sends an invoice. Apr. 24 P. Weatherall pays in cash for the goods obtained on credit. 4,200 Apr. 28 The owner draws cash from the business for personal use. 2,700 Apr. 29 The business pays wages to employees for the past month, in cash. 2,800 Apr. 30 The business discovers that its equipment has fallen in value over the month. 550
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Ledger accounts for Peter Gold furniture supplier Cash Account Date Particulars Debit Credit Apr1 Capital 60000 Apr2 Buildings 20000 Apr4 Equipment 20...View the full answer
Answered By
Maurat Ivan
I have been working in the education and tutoring field for the past five years, and have gained a wealth of experience and knowledge in this area. I have a bachelor's degree in education, and have completed additional coursework in teaching and tutoring.
In my previous roles, I have worked as a teacher in both private and public schools, teaching a variety of subjects including math, science, and English. I have also worked as a private tutor, providing one-on-one tutoring to students in need of additional support and guidance.
In my current role, I work as an online tutor, providing virtual tutoring services to students around the world. I have experience using a variety of online tutoring platforms and technologies, and am comfortable working with students of all ages and skill levels.
I am passionate about helping students succeed and reach their full potential, and I believe that my education and tutoring experience make me an excellent candidate for a tutoring job at SolutionInn. I am confident that my knowledge, skills, and experience will enable me to provide top-quality tutoring services to students on the SolutionInn platform.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Prepare ledger accounts for the transactions of Jane Gate's dental practice, listed in question A5.5. Refer to A5.5, Apr. 1 Jane Gate commenced her dental practice on 1 April by depositing 60,000 in...
-
The following list of transactions relates to the business of Peter Gold, furniture supplier, during the month of April. Analyse each transaction to show the two aspects of the transaction. Date...
-
The following list of transactions relates to the business of Peter Gold, furniture supplier, during the month of April. Analyze each transaction to show the two aspects of the transaction? Date...
-
Two ball bearings from different manufacturers are being considered for a certain application. Bearing A has a catalog rating of 2.0 kN based on a catalog rating system of 3 000 hours at 500 rev/min....
-
Saturated water vapor at 60C has its pressure decreased to increase the volume by 10% keeping the temperature constant. To what pressure should it be expanded?
-
The university computer lab's director keeps track of the lab usage, as measured by the number of students using the lab. This particular function is very important for budgeting purposes. The...
-
Hasan holds 100% of the shares in Behmoth Ltd and he is also a director of Lion Ltd. All of the shares in Lion Ltd are held by Singa Ltd. Required Determine the related party relationships for each...
-
Don Garlits is a landscaper. He is considering the purchase of a new commercial lawn mower, either, the Atlas or the Zippy. The minimum attractive rate of return is 8%, and the table provides all the...
-
Exercise 1 Motion on a Ramp In this exercise you will roll a marble down a ramp and calculate its linear acceleration and velocity. You will then create graphs to illustrate the motion of the marble.
-
Consider a fixed partitioning scheme with equal-size partitions of 216 bytes and a total main memory size of 224 bytes. A process table is maintained that includes a pointer to a partition for each...
-
Summarise the transactions of question A6.1 in a spreadsheet and show that the totals of the spreadsheet satisfy the accounting equation. Data From Question A6.1: On 1 May the Sea Traders Company...
-
Explain each of the following: (a) The IAS Regulation (b) The Financial Reporting Council (c) The Auditing Practices Board
-
Two objects, A and B, of equal inertia approach each other with relative velocity \(\vec{v}_{\mathrm{AB}}\) and collide elastically. For each object, draw a velocity-versus-time graph for the...
-
Below is the task 1 and 2 please explain it as according to scenario: The management hires six candidates to work overseas because they did not feel that the other candidates were qualified. They...
-
A solid - gold jewerly box was found in a the underwater palace of Cleopatra just off the shore of Alexandria. The length of the rectangular box is 3 5 centimeters less than the triple the width. The...
-
- How many digits are in the simplified whole number value of: (Hint: you do not need to multiply this out, think indices) 216 x 32 x 256
-
You are part of a team that discovered a new planet in our solar system and decided to call it Planet Assoca. This new planet has no atmosphere, a solar constant (S) of 1200 W/m 2 , an albedo () of...
-
Suppose that you have a piece of land to sell and you have two buyers. If the first buyer receives a fraction of the piece of land, the buyer will pay you U(x) dollars. Similarly, the second buyer...
-
Prove that (a) z is real if and only if = z; (b) z is either real or pure imaginary if and only if 2 = z2.
-
Maria Castigliani is head of the purchasing department of Ambrosiana Merceti, a medium-sized construction company. One morning she walked into the office and said, The main problem in this office is...
-
What are the main headings to be found in most company statements of financial position?
-
In the Companies Act formats, what is the reason for the order of items under heading C: current assets?
-
What are the main headings to be found in most company income statements (profit and loss accounts)?
-
In one month Ashton earned $800 at her part-time job, and $80 was withheld for federal income tax. Suppose she earns $1200 next month. How much will be withheld for federal income tax?
-
4. A pharma company you work for makes jars with cream. It claims that the average amount of cream in a jar is at least 90 g. To prove that claim to the customers you decide to test the claim at a...
-
12. Your calculations show that if the wrong link is shared to a potential Democratic voter, there is a strong chance it could result in them changing their vote to Independent or Republican. If you...
Study smarter with the SolutionInn App