9 Joanne has just started-up a business. She introduced $10,000 of her own savings, equipment worth...
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9 Joanne has just started-up a business. She introduced $10,000 of her own savings, equipment worth $2,500 and obtained a bank loan of $1,000. What is the correct balance on Joanne's capital account following these transactions? Fred started in business on 1 September. During June he made cash purchases of $5,200 and received credit purchase invoices for $12,500 of which $6,400 had been paid. What would be the balance of the purchases account in the general ledger at the end of June? 9 Joanne has just started-up a business. She introduced $10,000 of her own savings, equipment worth $2,500 and obtained a bank loan of $1,000. What is the correct balance on Joanne's capital account following these transactions? Fred started in business on 1 September. During June he made cash purchases of $5,200 and received credit purchase invoices for $12,500 of which $6,400 had been paid. What would be the balance of the purchases account in the general ledger at the end of June?
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Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
Posted Date:
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