The following were among the transactions of Micromount Ltd during the month of June 2023 (Assume...
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The following were among the transactions of Micromount Ltd during the month of June 2023 (Assume No GST): 1 June. Issued additional shares for $200,000. . 6 June. Paid monthly rent of $8,000. 9 June. Invoiced a client for work performed, $80,000. . 10 June. Purchased a truck from Mercedes Brighton for $60,000. Paid $6.000 on delivery. The balance is payable in 90 days. A 2 per cent discount is offered for payment within 15 days. • 15 June. Sold inventory on credit to Grogun Ltd $90,000, Cost of goods sold $30,000. 21 June. Paid money owed to Mercedes Brighton. 30 June. Declared a dividend of 20,000. REQUIRED Prepare the general journal entries to record the above transactions. Narrations are not required. The following were among the transactions of Micromount Ltd during the month of June 2023 (Assume No GST): 1 June. Issued additional shares for $200,000. . 6 June. Paid monthly rent of $8,000. 9 June. Invoiced a client for work performed, $80,000. . 10 June. Purchased a truck from Mercedes Brighton for $60,000. Paid $6.000 on delivery. The balance is payable in 90 days. A 2 per cent discount is offered for payment within 15 days. • 15 June. Sold inventory on credit to Grogun Ltd $90,000, Cost of goods sold $30,000. 21 June. Paid money owed to Mercedes Brighton. 30 June. Declared a dividend of 20,000. REQUIRED Prepare the general journal entries to record the above transactions. Narrations are not required.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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