Haresh Burj Electric Cars has started a business selling pre owned EVs. During the year to 31stDecember 2023 the following transactions occur: 1) Introduced 80,000 Capital into the business. 2) Bought EVs for 44,000. 3) Sold goods on credit for 12000 to SZR Custom Cars. 4) Paid wages of 11100. 5) Received a 60,000 cash loan from thebank. 6) Bought show room essentials on credit for 30, 000 From Mega Furniture. 7) Sold goods for 12,500 cash. 8) Bought a branded van for use in the business costing 30,000. 9) Bought Stationary for 200. 10) Received and paid an electricity billfor 3000. 11) Sold goods for 8000 on credit to Palm Estates. 12) Paid a supplier 11,000. 13) Received 9000 from SZR Custom Cars. 14) Repaired the delivery van costing 600. 15) Bought a car loader truck on credit for £30, 500. 16) Sold goods forCash totalling 20,000 17) Purchased stock from EV Rentals for 27,000 on credit 18) Made a Sale to DXB Taxi Co for 15,000 on credit 19) Received 5000 from DXB Taxi Co 20) Purchased a coffee machine for 2000 cash Required: a) Show the nominalledger entries (using T- accounts) for the above transactions Close off each T- account and prepare an initial trial balance as at 31 December

Name: Haresh Burj Electric Cars has started a business selling pre owned EVs
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Description: Haresh Burj Electric Cars has started a business selling pre owned EVs. During the year to 31stDecember 2023 the following transactions occur: 1) Introduced 80,000 Capital into the business. 2) Bought EVs for 44,000. 3) Sold goods on credit for 12000

Capital Account: Debit - Introduced 80,000Debtors Account:Debit - Bought EVs for 44,000Credit - Sold…

Answered: Purchased a coffee machine for 2000…

Business

Accounting

Purchased a coffee machine for 2000 cash Required: a) Show the nominal

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...

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