Write up the following transactions in the double-entry accounts in the books of M Cousins for the
Question:
Write up the following transactions in the double-entry accounts in the books of M Cousins for
the month of December 2014.
Transcribed Image Text:
1 Dec Cousins opens a business bank account with 8,000 of his own money. 4 Dec Fixtures and fittings purchased for 2,200 on credit from P Lambert. 11 Dec Goods purchased on credit from K Symons for 85. 13 Dec Goods purchased for 41 - payment made by cheque. 15 Dec Goods sold on credit to G Williams for 95. 17 Dec Goods sold on credit to P Parkinson for 124. 22 Dec Williams returns 23 of goods due to them being faulty.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
2014 Capital 2014 Dec 1 Bank 8000 2014 Bank 2014 D...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
Question Posted:
Students also viewed these Business questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Dear Newbie, Welcome to Hampton! My name is Julio Antoni, your supervisor. We believe the best way for you to get familiar with what you are going to be doing here is to throw you right in, so we are...
-
The goal of this graded project is to create the following financial statements for J & L Accounting, Inc.: Balance sheet Income statement Statement of retained earnings Post-closing trial...
-
Assume you are given the following abbreviated financial statements: On the basis of this information, calculate as many liquidity, activity, leverage, profitability, and common stock measures as you...
-
What free trade agreements have been negotiated by the United States? What is NAFTA?
-
I recommend reflecting on your experience with this chapters exercise before continuing. You can reflect about anything you found relevant, but here are some questions you may want to consider: How...
-
Calculate how much life insurance you need. L01
-
Calculating OCF Ranney, Inc., has sales of $18,700, costs of $10,300, depreciation expense of $1,900, and interest expense of $1,250. If the tax rate is 40 percent, what is the operating cash flow,...
-
Currie Company borrowed $ 2 0 , 0 0 0 from Sierra Bank by issuing a ( n ) 1 1 % three - year note. Currie agreed to repay the principal and interest by making annual payments in the amount of $ 5 , 0...
-
Write up the following transactions in the double-entry accounts of J Lam for the month of February 2009. 2 February Lam places 400 of his own money into the cash till. 3 February Purchases made on...
-
Draw up the double-entry accounts to record the following transactions. 1 Mar Goods bought on credit for 32 from T Burke. 3 Mar Goods bought on credit for 81 from W Randlesome. 9 Mar We return goods...
-
This type of method does not return a value. a. Null b. Void c. Empty d. Anonymous
-
In a fixed time and budget project, the customer wants the development of a core component to be based on agile practices, as the final scope of the requirement has not yet been fully developed. The...
-
1. Ace Pizzeria, a manufacturer of frozen pizzas, computes its predetermined overhead rate annually based on machine hours. At the beginning of the year, the company estimated that 165,000 machine...
-
From a group of 13 boys and 9 girls, a committee of 5 students is chosen at random. a. The probability that all 5 members on the committee will be girls is (Type an integer or a simplified fraction.)...
-
On December 1, 2020, Cream Ale Ltd. receives $1,800 in advance for an agreement to brew beer during the months of December, January, and February. What is the revenue recognized under accrual...
-
A survey shows that of 100 nurses, 75 play at least soccer, 95 play at least softball, and 50 play both soccer and softball. Is this possible? Step one: Understand the problem and organize the given...
-
What is a closed end fund? Describe how closed end funds function.
-
United Business Forms capital structure is as follows: Debt ............................................ 35% Preferred stock ........................... 15 Common equity .......................... 50...
-
In your own words, explain economic needs and how they relate to the economic-buyer model of consumer behavior. Give an example of a purchase you recently made that is consistent with the economic...
-
Cut out or photocopy two recent advertisements: one full-page color ad from a magazine and one large display ad from a newspaper. In each case, indicate to which needs the ads appeal.
-
Explain how an understanding of consumers learning processes might affect marketing strategy planning. Give an example.
-
A zero-coupon bond bears a higher interest rate risk than a coupon-paying bond, given other bond characteristics are equal. True False
-
Company management decided to restructure its balance sheet. Current long term debt of 8 mio euros will be increased to 20 mio euros. Interest for the debt is 4%. Borrowed 12 mio euros will used to...
-
Susan loans 10000 to Jim. Jim repays the loan with yearly instalments at the end of each year. Interest is expected to be 5% the first five years, and 10% the last five years. Calculate the...
Study smarter with the SolutionInn App