Image transcription text Transaction 1: Transaction 2: Transaction 3: Transaction 4: days. Transaction 3 date. Transaction 6:
Question:
Image transcription text
Transaction 1: Transaction 2: Transaction 3: Transaction 4: days. Transaction 3 date. Transaction 6: The business borrowed
53,000 from the Bank of Nova Scotia. The business bought computer equipment for 52,500 cash. Collected 330 from Jones
Bros. in payment of their debt. Purchased office equipment from Star Supply for $2250. The bill is to be paid in 30 5...
Transaction 1: The business borrowed $5,000 from the Bank of Nova Scotia. Transaction 2: The business bought computer equipment for $2,500 cash. Transaction 3: Collected $50 from Jones Bros. in payment of their debt. Transaction 4: Purchased office equipment from Star Supply for $2250. The bill is to be paid in 30 days. Transaction 5 Sold accounting services to Jones Bros. for $600. The amount is to be received at a later date. Transaction 6: Returned $70 of defective equipment to Star Supply. That company agreed to reduce the amount owed to them by $70. Transaction 7: Anna Antonelli withdrew $200 from the business for personal use. Transaction 8: Paid $600 to reduce the bank loan. Transaction 9: Sold more accounting services to Jones Bros. The total was $900, with $400 received now and the balance to be received in 30 days.
Additional comments: Using Spreadsheets for transaction analysis.
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett