Write up the asset and liability and capital accounts to record the following transactions in the...
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Write up the asset and liability and capital accounts to record the following transactions in the records of G. Smith and balance off each account. (4 pts each) 2010 June 1 started business with $25,000 in the bank June 2 Bought office furniture by cheque $1,500 June 3 Bought machinery $7,500 on credit from Bravo Motors June 5 Bought motor van paying by cheque $6,000 June 8 Sold some of the office furniture- not suitable for the firm- for $600 on credit to J. Walker & Sons June 15 Paid the amount owing to Bravo Motors $7,500 by cheque June 23 Received the amount due to J. Walker & Sons $600 in cash June 30 Bought more machinery by cheque $2,800 Write up the asset and liability and capital accounts to record the following transactions in the records of G. Smith and balance off each account. (4 pts each) 2010 June 1 started business with $25,000 in the bank June 2 Bought office furniture by cheque $1,500 June 3 Bought machinery $7,500 on credit from Bravo Motors June 5 Bought motor van paying by cheque $6,000 June 8 Sold some of the office furniture- not suitable for the firm- for $600 on credit to J. Walker & Sons June 15 Paid the amount owing to Bravo Motors $7,500 by cheque June 23 Received the amount due to J. Walker & Sons $600 in cash June 30 Bought more machinery by cheque $2,800
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Assets and liabitlies Liabilties Assets Capital 25000 office furniture 90... View the full answer
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
Posted Date:
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