Homework F Polk, after being in Bakery business for some years without keeping proper records, now. decides to keep a double entry set of books On 1 September 2021 he establishes that his assets and Liabilities are as follows: Assets Van £ 5700, Fixtures £2800, Stack E 5200 Debtores - P Mullen £ 105, M Abel £ 311 Bank £1o60, Cash £ 85.LiabiLities Creditors- A Hill E 8o. Sep 1: A debt of £105 awing from P Mullen was written of as a bad debt. Sep5:0ffice fixtures originally bought by credit for E150 was returned to the supplier Syme Itd,as it was unsuitaole. Full allowance will be given for this Sep 10: The bussines is owed E 311 by M.Abel He is declared boankrupt and ae only received .f180 cash in full settlement of the debt. Sup 18: Bought machinery from Brown td to use in the company The total purchasing value of the machine is £1800. The owner paid E 100 in cash, E 500 by issuing a cheque and rest of the purchasing valve would remain as a credit. Sep 26: The owner paid Brown Ltd. by issuing a cheque. half of the machinery delot to thinking we now discover that E to of the amount pOid uas in fact insurance of our private house. g that it was in respect of the bussiness
Homework F Polk, after being in Bakery business for some years without keeping proper records, now. decides to keep a double entry set of books On 1 September 2021 he establishes that his assets and Liabilities are as follows: Assets Van £ 5700, Fixtures £2800, Stack E 5200 Debtores - P Mullen £ 105, M Abel £ 311 Bank £1o60, Cash £ 85.LiabiLities Creditors- A Hill E 8o. Sep 1: A debt of £105 awing from P Mullen was written of as a bad debt. Sep5:0ffice fixtures originally bought by credit for E150 was returned to the supplier Syme Itd,as it was unsuitaole. Full allowance will be given for this Sep 10: The bussines is owed E 311 by M.Abel He is declared boankrupt and ae only received .f180 cash in full settlement of the debt. Sup 18: Bought machinery from Brown td to use in the company The total purchasing value of the machine is £1800. The owner paid E 100 in cash, E 500 by issuing a cheque and rest of the purchasing valve would remain as a credit. Sep 26: The owner paid Brown Ltd. by issuing a cheque. half of the machinery delot to thinking we now discover that E to of the amount pOid uas in fact insurance of our private house. g that it was in respect of the bussiness
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...
Related questions
Question
Hello please can I get help solving this T account?
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
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,