3. Write up the following transactions in the books of L. Thompson 2008 Mar I Mar 2 Started business with cash $1,500. Bought goods on eredit from A. Chang $296. Paid rent by cash $28 Mar 3 Paid S1000 of the cash of the firm into a bank account. Sold goods on credit to E. Linton $54. Bought stationery S15 paying by cheque. Cash sales $49. Goods returned by us to A. Chang S17. Sold goods on credit to S. Morgan $29. Paid for repairs to the building by cash S18. E. Linton returned goods to us $14. Paid Chang by cheque $279. Cash purchases S125. Bought a motor van paying by cheque $395. Paid motor expenses in cash S15. Bought fixtures S1 20 on credit from A. Webster. Mar 4 Mar 5 Mar 7 Mar II Mar 14 Mar 17 Mar 20 Mar 22 Mar 27 Mar 28 Mar 29 Mar 30 Mar 31

3. Write up the following transactions in the books of L. Thompson 2008 Mar I Mar 2 Started business with cash $1,500. Bought goods on eredit from A. Chang $296. Paid rent by cash $28 Mar 3 Paid S1000 of the cash of the firm into a bank account. Sold goods on credit to E. Linton $54. Bought stationery S15 paying by cheque. Cash sales $49. Goods returned by us to A. Chang S17. Sold goods on credit to S. Morgan $29. Paid for repairs to the building by cash S18. E. Linton returned goods to us $14. Paid Chang by cheque $279. Cash purchases S125. Bought a motor van paying by cheque $395. Paid motor expenses in cash S15. Bought fixtures S1 20 on credit from A. Webster. Mar 4 Mar 5 Mar 7 Mar II Mar 14 Mar 17 Mar 20 Mar 22 Mar 27 Mar 28 Mar 29 Mar 30 Mar 31

Name: 3.Write up the following transactions in the books of L. Thompson2008
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Description: 3.Write up the following transactions in the books of L. Thompson2008Mar IMar 2Мar 3Started business with cash $1,500.Bought goods on credit from A. Chang $296.Paid rent by cash $28Paid S1000 of the cash of the firm into a bank account.Sold goods on

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 3AP

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TRANSACTION ANALYSIS Linda Kipp started a business on May 1, 20--. Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side. (a) Invested cash in the business, 5,000. (b) Bought equipment for cash, 700. (c) Bought equipment on account, 600. (d) Paid cash on account for equipment purchased in transaction (c), 400. (e) Withdrew cash for personal use, 900.
Q1. Journalize the following transaction and prepare Cash Ledger only. 1. Started business with OMR 45,000 2. Purchase goods from Mr. Ahmed OMR 9,000 3. Bought machine for OMR 7,000 4. Paid rent OMR 5000 5. Sold goods on credit to Mr. Yusuf for OMR 12,000 6. Received interest OMR 11000 7. Sold goods for OMR 20000 8. Purchase goods for OMR 4000 and paid 50% cash. 9. Withdrawn 10 % of capital from the business for personal use. 10. Deposited OMR 2,000 in the bank. 11. Sold car for OMR 6000 12. Withdrawn money from bank OMR 1,000
Question No 2: Enter the following transactions in the accounts: 20X9 May 1 Started in business with £18,000 in the bank. == 2 Bought goods on credit from B Hind £1,455. == 3 Bought goods on credit from G Smart £472. == 5 Sold goods for cash £210. == 6 We returned goods to B Hind £82. == 8 Bought goods on credit from G Smart £370. == 10 Sold goods on credit to P Syme £483. == 12 Sold goods for cash £305. == 18 Took £250 of the cash and paid it into the bank. == 21 Bought a printer by cheque £620. == 22 Sold goods on credit to H Buchan £394. == 23 P Syme returned goods to us £160. == 25 H Buchan returned goods to us £18. == 28 We returned goods to G Smart £47. == 29 We paid Hind by cheque £1,373. == 31 Bought machinery on credit from A Cobb £419. Apply concept of financial accounting to prepare: Double entries
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Enter the following transactions in the accounts of L Linda: 20X7July == == == == == == == == == == == == == == == == == == == == == 1 Started in business with £20,000 in the bank.2 R Hughes lent us £5,000 in cash.3 Bought goods on credit from B Brown £1,530 and I Jess £4,162.4 Sold goods for cash £1,910.6 Took £200 of the cash and paid it into the bank.8 Sold goods on credit to H Rise £1,374.10 Sold goods on credit to P Taylor £341.11 Bought goods on credit from B Brown £488.12 H Rise returned goods to us £65.14 Sold goods on credit to G Pate £535 and R Sim £262.15 We returned goods to B Brown £94.17 Bought van on credit from Aberdeen Cars Ltd £4,370.18 Bought office furniture on credit from J Winter Ltd £1,800.19 We returned goods to I Jess £130.20 Bought goods for cash £390.24 Goods sold for cash £110.25 Paid money owing to B Brown by cheque £1,924.26 Goods returned to us by G Pate £34.27 Returned some of office furniture costing £180 to J Winter Ltd.28 L Linda put a further…
4. Below are the transactions for the month of February 2020 for Mrs Lamuna, a sole trader:Feb 1 Started business with RM12,000 cash2 Bought goods on credit from Shahirah RM1,0003 Paid rent by cash RM2004 Paid RM11,000 of the business cash into the business bank account6 Sold goods on credit to Tini RM6007 Bought stationery by cheque RM5011 Cash sales RM10014 Returned goods to Shahirah RM15015 Sold goods on credit to Tinggasamy RM1,20018 Goods returned by Tini RM4523 Paid Shahirah by cheque RM85025 Cash purchases RM25027 Received cheque from Tinggasamy RM50028 Received commission by cash RM100Required:a. Record the transaction in the appropriate ledger accounts and balance all the account
Group 7 Mrs. Agustin is wholesale trader; following transactions are record in Accounting Equation? 1. Commence business with cash P400,000 and Land P70,000. 2. Bought merchandising for cash P 9,000. 3. Cash sales of worth P35,000. 4. Bought goods on credit from Salman of worth P6,000. 5. Sales on account to Ali Raza P 13,000. 6. Purchase furniture of the value of P 6,000 by cash. 7. Received cash form Ali Raza of P 11,000. 8. Return defective furniture of worth P1,000. 9. Paid wages P1,000, Rent 2,000 and Electricity Bill Payable P1,500. NOTE: PLEASE ALSO INCLUDE SOME EXPLANATION BELOW, SINCE THIS WILL BE FOR MY REPORT. THANK YOU
Mrs. Agustin is wholesale trader; following transactions are record in Accounting Equation? 1. Commence business with cash P400,000 and Land P70,000. 2. Bought merchandising for cash P 900,000. 3. Cash sales of worth P35,000. 4. Bought goods on credit from Salman of worth P60,000. 5. Sales on account to Ali Raza P 13,000. 6. Purchase furniture of the value of P 6,000 by cash. 7. Received cash form Ali Raza of P 11,000. 8. Return defective furniture of worth P1,000. 9. Paid wages P1,000, Rent 2,000 and Electricity Bill Payable P1,500.
Question 2 The following are the transactions of Lim Trading in May: May 1 Start a business with Cash in hand RM800 and Cash at bank RM1,000 2 Purchased goods by cheque RM400 2 Paid rates to Dewan Bandaraya Kuala Lumpur by cheque RM40 4 Bought goods on credit from Qin Co RM200 8 Sold goods to Tali on credit RM300 9 Cash sales RM80 10 Paid transport by cash RM12 13 Credit sales to Tali RM300 14 Paid for stationery in cash RM16 15 Introduced further capital RM1,000 by cheque 16 Tali paid for the amount owing by cheque, less 5% discount (calculate the amount) 20 Withdrew cash for own use RM120 24 Purchased goods with office cash RM28 25 Paid Qin Co a cheque in full settlement of the amount owing, less 5% discount (calculate the amount) 26 Sold goods on credit to Tali RM450 28 Paid transport by cash RM10 30 Transferred cash from office to bank RM400 30 Credit purchase from Qin Co…
1. Started business with OMR 45,000 2. Purchase goods from Mr. Ahmed OMR 9,000 3. Bought machine for OMR 7,000 4. Paid rent OMR _______4000 5. Sold goods on credit to Mr. Yusuf for OMR 12,000 6. Received interest OMR __11000 7. Sold goods for OMR ___6000 8. Purchase goods for OMR 4000 and paid 50% cash. 9. Withdrawn 10 % of capital from the business for personal use. 10. Deposited OMR 2,000 in the bank. Q1) 1. Most of the companies uses Multi-step Income statement, you are required to convert Income Statement of your company from Multi-step to Single Step.
Enter the following transactions in the appropriate accounts: 20X6 Aug 1 Started in business with £7,400 cash. == 2 Paid £7,000 of the opening cash into the bank. == 4 Bought goods on credit £410 from J Watson. == 5 Bought a van by cheque £4,920. == 7 Bought goods for cash £362. == 10 Sold goods on credit £218 to L Less. == 12 Returned goods to J Watson £42. == 19 Sold goods for cash £54. == 22 Bought fixtures on credit from Firelighters Ltd £820. == 24 F Holmes lent us £1,500 paying us the money by cheque. == 29 We paid J Watson his account by cheque £368. == 31 We paid Firelighters Ltd by cheque £820. Apply concept of financial accounting to prepare : Double entries, T Ac, Trial balance of above transactions.
QUESTION 2 The following are the transactions of Hus Cycle Enterprise in May: 1 Started a business with Cash in hand RM1,200 and Cash at bank RM1,100. 2 Purchased goods by cash RM200. 4 Bought goods on credit from Raise Enterprise RM500. 5 Paid rent by cheque RM720. 7 Paid advertising by cash RM330 8 Sold goods to Emas Enterprise on credit RM300. 9 Cash sales RM800. 10 Paid transport by cash RM12. 13 Credit sales to Emas Enterprise RM600. 14 Paid for stationery in cash RM16. 15 Contributed further capital RM3,000 by cheque. 16 Emas Enterprise paid for the amount owed by cheque, provide 2% discount to Emas. 20 Drawing by cheque for personal use RM150. 24 Bought goods on credit from Ally amount RM400. 25 Sold goods on credit to Lisa RM450. 26 Paid Ally by cheque in full settlement of the amount owing, received 5% discount. 28 Paid electricity by cash RM120. 30 Transferred cash from office to bank RM500. 30 Credit purchase from Nissa Co RM300. 31 Refunded cash to…