The following business transactions and business events relate to Andrews Business Services Pty Ltd. Required (a) Prepare
Question:
The following business transactions and business events relate to Andrew’s Business Services Pty Ltd.
Required
(a) Prepare a worksheet for the business transactions for June.
(b) Enter these transactions into ledger accounts for the business.
(c) Complete a statement of profit or loss and statement of financial position for Andrew’s Business Services Pty Ltd for the period ending 30 June 2020.
Transcribed Image Text:
2020 June 1 Andrew commenced business with $15 000 given to him by his Aunt Kate. 4 Purchased new computer for his business $1200 on credit. 5 Received $500 for services rendered. 6 Paid rent on office for June $400. 7 Negotiated with Baxter and Michael possible casual employment contracts totalling $1500. Aunt Kate injected a further $2000 gift into Andrew's business. Billed a client $500 for services rendered. Received an invoice for new reception desk $3400. Paid for telephone connection fee $65. 16 Sent a quote for a large prospective job $4800. Paid gas charges $231. 16 23 Received $250 for consultation work completed. 28 Paid in full for the reception desk bought on 10 June. 30 Paid advertising $200. 8 9 10 15
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Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730369325
7th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond
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