During the first month of trading. Natalia recorded the following transactions for his business. Aug 1...
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During the first month of trading. Natalia recorded the following transactions for his business. Aug 1 Started business by putting $7,400 in to the business bank account. Aug 4 Bought goods on credit from J. James S460 Aug 5 Bought a van by cheque S4,920. Aug 7 Purchased goods for cash $362. Aug 10 Sold goods on credit to A. Amy $218 Aug 12 Returned goods to a J. James $42. Aug 19 Sold goods for cash $54. Aug 21 Natalia paid her gym membership fee by taking $20 from business bank account Aug 22 Bought fixtures on credit from ALL Furniture Lad S820. Aug 24 F Holmes lent us $1,500 paying us the money by cheque. This amount will be payable to FHolmes within 2 years. Aug 29 We paid J. James his account by cheque $368. Aug 30 A. Amy returmed goods to us S60 Aug 31 A. Amy paid us S100 by cash Aug 31 Paid S200 for TV advertisement for promoting the products Required: For the first month of trading, you are required to: i Record the above transactions in the ledger accounts and balance of the accounts i. Extract a trial balance as at 31 Jan 2019 During the first month of trading. Natalia recorded the following transactions for his business. Aug 1 Started business by putting $7,400 in to the business bank account. Aug 4 Bought goods on credit from J. James S460 Aug 5 Bought a van by cheque S4,920. Aug 7 Purchased goods for cash $362. Aug 10 Sold goods on credit to A. Amy $218 Aug 12 Returned goods to a J. James $42. Aug 19 Sold goods for cash $54. Aug 21 Natalia paid her gym membership fee by taking $20 from business bank account Aug 22 Bought fixtures on credit from ALL Furniture Lad S820. Aug 24 F Holmes lent us $1,500 paying us the money by cheque. This amount will be payable to FHolmes within 2 years. Aug 29 We paid J. James his account by cheque $368. Aug 30 A. Amy returmed goods to us S60 Aug 31 A. Amy paid us S100 by cash Aug 31 Paid S200 for TV advertisement for promoting the products Required: For the first month of trading, you are required to: i Record the above transactions in the ledger accounts and balance of the accounts i. Extract a trial balance as at 31 Jan 2019
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Financial and Managerial Accounting
ISBN: 978-1285078571
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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