Enter the following transactions, completing the double entry in the books for the month of August: August
Question:
Enter the following transactions, completing the double entry in the books for the month of August:
August 1 Started in business with \(£ 31,000\) in the bank and \(£ 4,000\) in cash.
2 Purchased goods \(£ 1,160\) on time from A. Cliff.
3 Bought fixtures and fittings \(£ 4,600\) paying by cheque.
5 Sold goods for cash \(£ 600\).
6 Bought goods on time \(£ 1,300\) from S. Bell.
10 Paid rent by cash \(£ 800\).
12 Bought stationery \(£ 180\), paying in cash.
18 Goods returned to A. Cliff \(£ 164\).
21 Received rent of \(£ 480\) by cheque for sublet of corner space.
23 Sold goods on time to R. Coat for \(£ 3,200\).
24 Bought a van paying by cheque \(£ 16,400\).
30 Paid the month's wages by cash \(£ 1,220\).
31 The proprietor took cash for her own personal use \(£ 1,020\).
Step by Step Answer:
Frank Woods Business Accounting An Introduction To Financial Accounting
ISBN: 9781292365435
15th Edition
Authors: Alan Sangster, Lewis Gordon, Frank Wood