The following list of transactions relates to the business of Peter Gold, furniture supplier, during the month of April. Analyse each transaction to show the two aspects of the transaction.

150 Part 2 Reporting the transactions of a business Date Business transactions and events (nature of the entity: Amount wholesale trader) £

Apr. 1 The owner pays cash into a bank account for the business. 60,000 Apr. 2 The business acquires buildings for cash. 20,000 Apr. 4 The business acquires equipment for cash. 12,000 Apr. 6 The business purchases an inventory (stock) of goods for cash. 8,500 Apr. 7 The business purchases an inventory (stock) of goods on credit 7,000 from R. Green and receives an invoice.

Apr. 11 The business pays R. Green in cash for the goods it acquired on 7,000 credit.

Apr. 14 The business pays a gas bill in cash. 400 Apr. 17 Items costing £5,500 are removed from the store because sales have 5,500 been agreed with customers for this date.

Apr. 17 The business sells some of the goods removed from store for cash 6,000 of £6,000.

Apr. 17 The business sells the remainder of the goods removed from store 4,200 on credit to P. Weatherall and sends an invoice.

Apr. 24 P. Weatherall pays in cash for the goods obtained on credit. 4,200 Apr. 28 The owner draws cash from the business for personal use. 2,700 Apr. 29 The business pays wages to employees for the past month, in cash. 2,800 Apr. 30 The business discovers that its equipment has fallen in value over 550 the month.

AppendixLO1