Write up the following transactions in the books of J. Dunn: May 1 Started in business with
Question:
Write up the following transactions in the books of J. Dunn:
May 1 Started in business with cash \(£ 30,000\).
2 Bought goods on time from T. Lamb \(£ 700\).
3 Paid rent by cash \(£ 1,740\).
4 Paid \(£ 25,000\) of the cash of the business into a business bank account.
5 Sold goods on time to R. Still \(£ 384\).
7 Bought stationery \(£ 170\) paying by cheque.
11 Cash sales \(£ 624\).
14 Goods returned by us to T. Lamb \(£ 80\).
17 Sold goods on time to R. Davis \(£ 424\).
20 Paid for repairs to the building by cash \(£ 156\).
22 R. Still returned goods to us \(£ 62\).
27 Paid T. Lamb by cheque \(£ 620\).
28 Cash purchases \(£ 940\).
29 Bought a van paying by cheque \(£ 7,000\).
30 Paid motor expenses in cash \(£ 432\).
31 Bought a computer \(£ 1,460\) on time from S. Tims.
Step by Step Answer:
Frank Woods Business Accounting An Introduction To Financial Accounting
ISBN: 9781292365435
15th Edition
Authors: Alan Sangster, Lewis Gordon, Frank Wood