Record the following transactions in ledger accounts for I Sharp for March 2009. 1 March Owner borrows
Question:
Record the following transactions in ledger accounts for I Sharp for March 2009.
Transcribed Image Text:
1 March Owner borrows 10,000 from the Essex Bank which is immediately paid into bank. 3 March Machinery is purchased for 950, payment to be made by cheque. 5 March Sharp transfers 1,000 from the bank into the cash till. 12 March Equipment is purchased from T Wilson on credit for 450. 14 March Motor vehicle for 2,000 is purchased by cheque. 19 March Sharp sends 200 of equipment back to Wilson - it was faulty. 24 March Sharp settles his account with Wilson by making payment by cash.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
2009 2009 Mar 1 Essex Bank 2009 Mar 5 Bank 2009 Mar 3 Bank 2009 Mar 14 Bank 2009 ...View the full answer
Answered By
Joemar Canciller
I teach mathematics to students because I love to share what I have in this field.
I also want to see the students to love math and be fearless in this field.
I've been tutoring these past 2 years and I would like to continue what I've been doing.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
Question Posted:
Students also viewed these Business questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
The stockholders' equity accounts of Toy Town Corporation on January 1, 2016, contained the following balances: Preferred Stock (8%, $50 par value, 2,000 shares authorized) Issued and Outstanding,...
-
Convert 1 3 3 7 9 . 0 0 Joule to its equivalent number of Btu. ( express result with two decimals followed by units )
-
Under what conditions is the formation of a customs union more likely to lead to trade creation and increased welfare?
-
Distinguish among the following: advanced practice registered nurse, certified registered nurse, and physician assistant.
-
Discuss how the links between motivation, training and evaluation can lead to better sales performance.
-
On December 31, 2012, Ogallala Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee. On December 31, 2012,...
-
Dorpac Corporation has a dividend yield of 1.3%. Its equity cost of capital is 8.8%, and its dividends are expected to grow at a constant rate. a. What is the expected growth rate of Dorpac's...
-
For the following transactions, state the accounts to be debited and credited. (a) Firm buys inventory and pays immediately by cheque. (b) Goods returned to the original supplier, A Rahman, due to...
-
Record the following transactions in ledger accounts for R Wheatcroft for July 2013. 1 July Wheatcroft places 300 of his own money into the business cash till. 3 July Wheatcroft places 1,000 of his...
-
A parallel plate capacitor is composed of two square plates, 10.0 cm on a side, separated by an air gap of 0.75 mm. (a) What is the charge on this capacitor when there is a potential difference of...
-
The factor \(j_{\mathrm{D}}\) is also used in the correlation. This is defined as \[j_{\mathrm{D}}=S t(S c)^{2 / 3}=\frac{k_{\mathrm{m}}}{v_{\text {ref }}}(S c)^{2 / 3}\] where \(S t\) is the Stanton...
-
For years, AT&T had been flirting with the idea of acquiring satellite pay TV company DirecTV. But such a deal would have resulted in increased market concentration that may have precluded getting...
-
What is the definition of ignorable treatment assignment? a. Give an example of a study where the treatment assignment is ignorable. b. Give an example of a study where the treatment assignment is...
-
Ashland Chemical, the largest US chemical distributor, acquired chemical manufacturer Hercules Inc. for \($3.3\) billion. This move followed Dow Chemical Companys purchase of Rohm & Haas. The...
-
After having acquired the OfficeMax superstore chain, Boise Cascade announced the sale of its paper and timber products operations to reduce its dependence on this cyclical business. Reflecting its...
-
Would this approach work for most of todays projects?
-
United Business Forms capital structure is as follows: Debt ............................................ 35% Preferred stock ........................... 15 Common equity .......................... 50...
-
Review the model in Exhibit 5-2 and then reread the Apple case at the beginning of this chapter. List and briefly describe specific points in the case that illustrate the model.
-
Interview a friend or family member about two recent purchase decisions. One decision should be an important purchase, perhaps the choice of an automobile, a place to live, or a college. The second...
-
In your own words, explain how buying behavior of business customers in different countries may have been a factor in speeding the spread of international marketing.
-
Jack is the father of five children. He was raised in a hardworking immigrant family. His needs for achievement and power were developed while he was growing up. Now he finds himself in a low-paying,...
-
My second main takeaway was to be consistent and flexible. Every employee has a responsibility to review all the company policies. Furthermore, although work schedule flexibility is beneficial, it...
-
Margaret Harris, HR Manager BCC To: All employees Date: October 1, 20xx Subject: Important Policy Change: Vacation Schedule Message: Good morning! Effective immediately, there has been a change to...
Study smarter with the SolutionInn App