Church commenced business on 1st January 2021 with a Capital of 150,000 in cash. On the same
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Question:
January
1 Bought goods for cash £90,000
2 Sold goods to Bernard Ltd on Credit £38,000
15 Sold goods for cash £10,000
21 Received from Bernard Ltd cheque for £35,000
22 Stationery paid by cheque £200
22 Telephone bill paid by cash £500
24 Paid rent by cash £1,000
26 Paid salaries by cash £4,000
28 Withdrew cash for personal use £5,000
Required:
(a) Record the above transactions in the Journal of Church for January 2021.
(b) Show the entries for the above transactions in the Two Column Cash Book.
Related Book For
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
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