Using the schedule provided below, please record the following transactions that occurred for Alpers restaurant in the first ten days of June.

June

1 Purchased inventory stock for $500 on credit.

2 Restaurant makes sales of $3,000, $2000 for cash and $1000 on account.

3 Paid staff wages $500.

4 Received $1000 in connection with customers billed in (2) above.

5 Alper withdrew $400 from the business.

6 Paid $300 for miscellaneous expenses (telephone, electricity, etc.).

7 Paid $300 to trade creditors.

8 Took up a loan of $4,00 from the bank.

9 Restaurant makes sales of $3,000, $1,500 for cash and $1,500 on account.

10 Purchased furniture costing $3,000 on credit.

Answer #2

Analysis of Alpers restaurants financial transactions in first 10 days of June

	Assets				=	Liabilities		+	Owners Equity
May	Cash at Bank	Accounts Receivable	Inventory	Furniture		Accounts Payable	Loan Payable		Capital	Profit or Loss
1
2
3
4
5
6
7
8
9
10
	$				=	$		+	$