1 March Olga started the business with $30,000 in cash 2 March Bought goods for cash $2,900 3 March Received a bill for rent for March-July, $5,000 3 March Paid cash for rent of premises $225 5 March Purchased fixtures and fittings on credit, $2,000 9 March Some fixtures and fittings were returned damaged to supplier, $300 10 March Olga withdrew cash, $300 15 March Purchased goods on credit, $200 31 March Received cash from client in advance, $800 31 March Depreciation expense for March was recognized of $10 Required Prepare: (i) general journal for the transactions;
1 March Olga started the business with $30,000 in cash 2 March Bought goods for cash $2,900 3 March Received a bill for rent for March-July, $5,000 3 March Paid cash for rent of premises $225 5 March Purchased fixtures and fittings on credit, $2,000 9 March Some fixtures and fittings were returned damaged to supplier, $300 10 March Olga withdrew cash, $300 15 March Purchased goods on credit, $200 31 March Received cash from client in advance, $800 31 March Depreciation expense for March was recognized of $10 Required Prepare: (i) general journal for the transactions;
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter3: Journalizing Transactions
Section: Chapter Questions
Problem 4.1AP
Related questions
Topic Video
Question
1 March Olga started the business with $30,000 in cash
2 March Bought goods for cash $2,900
3 March Received a bill for rent for March-July, $5,000
3 March Paid cash for rent of premises $225
5 March Purchased fixtures and fittings on credit, $2,000
9 March Some fixtures and fittings were returned damaged to supplier, $300
10 March Olga withdrew cash, $300
15 March Purchased goods on credit, $200
31 March Received cash from client in advance, $800
31 March
Required
Prepare:
(i) general journal for the transactions;
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning