Hilda Prentice commenced a wholesale business on 1 April 2010 introducing cash of 10,000 as her capital.

Question:

Hilda Prentice commenced a wholesale business on 1 April 2010 introducing cash of £10,000 as her capital. The following transactions took place within the first week:

Required:

(a) Set out the prime entry recording every transaction reported above.

(b) Post to appropriate ledger accounts.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 27, 2023 11:02 AM

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Hilda Prentice commenced a wholesale business on 1 April 2010 introducing cash of 10,000 as her capital.

Question:

Date 4.4 4.4 4.4 5.4 Transaction Paid £4,000 for furniture Paid £300 as rent for the week Purchased goods for sale on credit from City Stores for £1,480 and Global Ltd for £2,175 Paid £280 for advertising

Step by Step Answer:

Notes a Cash 10000 845 565 745 4000 300 280 120 200 2175 5080 b Purchases 14...View the full answer

Financial Accounting An Introduction

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