Upon recording and posting the transactions until 9 March 2010, the balances in the ledger include those
Question:
Upon recording and posting the transactions until 9 March 2010, the balances in the ledger include those stated. The following transactions took place on 10 March:
Paid £8,000 for shop fittings.
Paid £3,000 as part settlement of amount owed to Ibrahim.
Paid £2,000 as rent on shop premises for the month of March.
Paid £18,000 to buy a Toyota Sedan vehicle for use of office staff.
Required:
What would be the balances remaining in the four accounts named above, identifying whether it would be a debit or a credit balance, after the four payments have been posted to these accounts?
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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