Give examples of financial transactions relevant to Ms. Amanda’s business: i. Ms. Amanda’s investment of money in the business on 1st March. (1 transaction) ii. Performance of services for cash and credit (2 transactions) iii. Payment of expenses (1 transaction) iv. Purchase of assets for cash and credit (2 transactions) v. Collection of cash from debtor’s accounts (1 transaction) vi. Payment of cash to creditor’s account (1 transaction)
Give examples of financial transactions relevant to Ms. Amanda’s business: i. Ms. Amanda’s investment of money in the business on 1st March. (1 transaction) ii. Performance of services for cash and credit (2 transactions) iii. Payment of expenses (1 transaction) iv. Purchase of assets for cash and credit (2 transactions) v. Collection of cash from debtor’s accounts (1 transaction) vi. Payment of cash to creditor’s account (1 transaction)
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter3: Journalizing Transactions
Section: Chapter Questions
Problem 1AP
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Give examples of financial transactions relevant to Ms. Amanda’s business:
i. Ms. Amanda’s investment of money in the business on 1st March. (1 transaction) ii. Performance of services for cash and credit (2 transactions)
iii. Payment of expenses (1 transaction)
iv. Purchase of assets for cash and credit (2 transactions)
v. Collection of cash from debtor’s accounts (1 transaction)
vi. Payment of cash to creditor’s account (1 transaction)
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