Prepare Journal entries, Trial Balance, Income Statement, Statement of changes in equity, Balance sheet for the month
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1 | May 1 | $30,000 Cash invested into the business |
2 | May 5 | Bought equipment for $6,000 on account |
3 | May 7 | Bough Inventory for $8,000 with Cash |
4 | May 8 | Borrowed $10,000 from a bank |
5 | May 12 | Sold $6,000 worth of goods on account that cost $3,000 |
6 | May 15 | Bought Office furniture for $7,000 |
7 | May 16 | Paid utility bills for $600 |
8 | May 19 | Paid $800 cash for the salaries of staff |
9 | May 20 | Bought computer equipment worth $2,000 |
10 | May 22 | Sold $900 worth of inventories for cash of $1,500 |
11 | May 25 | Paid rent in cash $10,000 |
12 | May 27 | Withdrew $3,000 from business for personal use |
13 | May 28 | Sold $700 worth of inventories on credit for $ 1,200 |
14 | May 30 | Further Invested $5,000 cash into business |
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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