1 Aug Started business with $150, 000 in the bank 27 Aug Electricity paid by cash $1,500.00 3 Aug Bought supplies on credit from Right Way Manufacturers 24 Boxes Air Filter 96 Bottles fuel injector cleaner 48 Boxes Spark Plug 36 Boxes Brake Shoe 24 Boxes Disc Pads 28 Aug The owner took $5000 out of the bank for his personal use. $720.00 per box $200.00 per bottle $300.00 per box $580.00 per box $400.00 per box 28 Aug Provided services for cash 12 small motorbike engines 6 medium size motorbike engines 4 medium size motor bike engines $350.00 per engine $550.00 per engine $800.00 per engine 5 Aug Provided services for cash less 10% discount 29 Aug 12 small motorbike engines 6 large motorbike engines (full service) 8 medium size motorbike engines (full service) $350.00 per engine $950.00 per engine $800.00 per engine Bought supplies on credit from big J Manufacturers 4 Bottles Fuel Injector Cleaner 9 Boxes Air Filters 8 Boxes Sparks Plugs $200.00 per bottle $720.00 per box $300.00 per box 7 Aug Paid Rent by cheque $5,000.00 30 Aug Provided service for cash 8 small motorbike engines 7 Large motorbike engines 8 Medium motorbike engines $350.00 per engine $950.00 per engine $550.00 per engine 10 Aug Paid Wages by cheque $8,000.00 Bought Fixtures from CT Limited paying by cash 10 Aug $3,500.00 Supplies on hand 5 Boxes Air Filter 6 Bottles fuel injector cleaner 12 Boxes Spark Plug 13 Boxes Brake Shoe 9 Boxes Disc Pads 31 Aug $720.00 per box $200.00 per bottle $300.00 per box $580.00 per box $400.00 per box 11 Aug Provided services on credit to Auto Care. 24 small motorbike engines 8 large motor bike engines (partial service) 12 medium size motorbike engine (partial service) $50.00 per engine $350.00 per engine $650.00 per engine 12 Aug Bought Fixtures on credit from CT Ltd $8,000.00 To avoid duplication of account names and the use of improper account names, the company has provided the following list of accounts used to record its transactions as extracted from its chart of accounts: Capital Cash Supplies Right Way Manufacturers J Manufacturers P&S Auto CT Ltd Service Revenue Discount Allowed Rent Expense Wages Expense Supplies Expense 13 Aug Received a loan from NBC cash $25,000.00 14 Aug Provided services on credit to P&S Auto 18 Large motorbike engines (full service) 12 medium size motor bike engines 24 medium size motorbike engines 20 small motorbike engines $950.00 per engine $650.00 per engine $550.00 per engine $350.00 per engine 21 Aug Paid CT Ltd by cheque $8,000.00 22 Aug Paid wages cash $8,000.00 23 Aug Paid Right Way Manufacturer the amount owing to them by cheque, they allowed us a 15% discount Fixtures P&S Auto paid the amount owing by them in Cash less 10 % discount Auto Care Loan NBC Discount Received 27 Aug Clutil

1 Aug Started business with $150, 000 in the bank 27 Aug Electricity paid by cash $1,500.00 3 Aug Bought supplies on credit from Right Way Manufacturers 24 Boxes Air Filter 96 Bottles fuel injector cleaner 48 Boxes Spark Plug 36 Boxes Brake Shoe 24 Boxes Disc Pads 28 Aug The owner took $5000 out of the bank for his personal use. $720.00 per box $200.00 per bottle $300.00 per box $580.00 per box $400.00 per box 28 Aug Provided services for cash 12 small motorbike engines 6 medium size motorbike engines 4 medium size motor bike engines $350.00 per engine $550.00 per engine $800.00 per engine 5 Aug Provided services for cash less 10% discount 29 Aug 12 small motorbike engines 6 large motorbike engines (full service) 8 medium size motorbike engines (full service) $350.00 per engine $950.00 per engine $800.00 per engine Bought supplies on credit from big J Manufacturers 4 Bottles Fuel Injector Cleaner 9 Boxes Air Filters 8 Boxes Sparks Plugs $200.00 per bottle $720.00 per box $300.00 per box 7 Aug Paid Rent by cheque $5,000.00 30 Aug Provided service for cash 8 small motorbike engines 7 Large motorbike engines 8 Medium motorbike engines $350.00 per engine $950.00 per engine $550.00 per engine 10 Aug Paid Wages by cheque $8,000.00 Bought Fixtures from CT Limited paying by cash 10 Aug $3,500.00 Supplies on hand 5 Boxes Air Filter 6 Bottles fuel injector cleaner 12 Boxes Spark Plug 13 Boxes Brake Shoe 9 Boxes Disc Pads 31 Aug $720.00 per box $200.00 per bottle $300.00 per box $580.00 per box $400.00 per box 11 Aug Provided services on credit to Auto Care. 24 small motorbike engines 8 large motor bike engines (partial service) 12 medium size motorbike engine (partial service) $50.00 per engine $350.00 per engine $650.00 per engine 12 Aug Bought Fixtures on credit from CT Ltd $8,000.00 To avoid duplication of account names and the use of improper account names, the company has provided the following list of accounts used to record its transactions as extracted from its chart of accounts: Capital Cash Supplies Right Way Manufacturers J Manufacturers P&S Auto CT Ltd Service Revenue Discount Allowed Rent Expense Wages Expense Supplies Expense 13 Aug Received a loan from NBC cash $25,000.00 14 Aug Provided services on credit to P&S Auto 18 Large motorbike engines (full service) 12 medium size motor bike engines 24 medium size motorbike engines 20 small motorbike engines $950.00 per engine $650.00 per engine $550.00 per engine $350.00 per engine 21 Aug Paid CT Ltd by cheque $8,000.00 22 Aug Paid wages cash $8,000.00 23 Aug Paid Right Way Manufacturer the amount owing to them by cheque, they allowed us a 15% discount Fixtures P&S Auto paid the amount owing by them in Cash less 10 % discount Auto Care Loan NBC Discount Received 27 Aug Clutil

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 3PB: Hajun Company started its business on May 1, 2019. The following transactions occurred during the...

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