Write up the asset and liability and capital accounts to record the following transactions in the records
Question:
Write up the asset and liability and capital accounts to record the following transactions in the records of G Powell.
Transcribed Image Text:
19X7 July 1 Started business with 2,500 in the bank. 2 Bought office furniture by cheque 150. 3 Bought machinery 750 on credit from Planers Ltd. 5 Bought a motor van paying by cheque 600. 8 Sold some of the office furniture - not suitable for the firm for 60 on credit to ..15 J Walker & Sons. Paid the amount owing to Planers Ltd 750 by cheque. 23 Received the amount due from J Walker & Sons 60 in cash. 31 Bought more machinery by cheque 280.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
Answered By
Charles mwangi
I am a postgraduate in chemistry (Industrial chemistry with management),with writing experience for more than 3 years.I have specialized in content development,questions,term papers and assignments.Majoring in chemistry,information science,management,human resource management,accounting,business law,marketing,psychology,excl expert ,education and engineering.I have tutored in other different platforms where my DNA includes three key aspects i.e,quality papers,timely and free from any academic malpractices.I frequently engage clients in each and every step to ensure quality service delivery.This is to ensure sustainability of the tutoring aspects as well as the credibility of the platform.
4.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Write up the asset and liability and capital accounts to record the following transactions in the records of D. Mair: 2017 July 1 Started business with 24,000 in the bank. 2 Bought office furniture...
-
Explain (Describe) data encryption in detail (brief). OR Write short note on data encryption
-
Write up the asset and liability and capital accounts to record the following transactions in the records of F Murray. 20X7 July "1 11 1 Started business with 15,000 in the bank. 2 Bought office...
-
Compute for the fringe benefits tax due in the following scenarios. During 201A, Alpha Corporation gave the following fringe benefits to its employees: Salaries to rank and file employees P1,000,000...
-
A neutron star is essentially a gigantic nucleus with mass 1.35 times that of the Sun, or a mass number of order 1057. It consists of approximately 99% neutrons, the rest being protons and an equal...
-
Youve slammed on the brakes and your car is skidding to a stop while going down a 20 hill.
-
Ambient scents effect food choices. Refer to the Journal of Marketing Research (February 2019) study that investigated whether food-related ambient scents had an effect on consumers product choices,...
-
McGrath Financial Corp. has a defined benefit pension plan. As of January 1, 2011, the following balances were computed for the pension plan: Deferred pension gain . . . . . . . . . . . . . . . . . ....
-
Additional information: 1. Net income was $22,900. Dividends declared and paid were $14.700. 2. No noncash investing and financing activities occurred during 2022. 3. The land was sold for cash of...
-
You are required to open the asset and liability and capital accounts and record the following transactions for June 19X8 in the records of C Williams. 19X8 June Started business with 2,000 in cash....
-
Complete the following table showing which accounts are to be debited and which to be credited: (a) Bought motor lorry for cash. (b) Paid creditor, T Lake, by cheque. (c) Repaid P Logan's loan by...
-
Consider Facebook's acquisitions of Instagram, WhatsApp, and Oculus VR. Was the firm smart to make these acquisitions, and did it pay a reasonable price? What were the risks in not acting?
-
Provide a brief bio of the leader and a brief overview of the change or crisis they led the organization or movement through. Discuss their leadership style during this change/crisis using one of the...
-
Write a C++ function named Ifsr that accepts feedback path and initial states as unsigned integers and the number of random bits to be printed as arguments. The function will print the random bits by...
-
Newfoundland Hapset will be remitted to _____
-
The Z Energy Corp. has a new investment opportunity that generates cash flows of $6 million per year (in expectation) forever. The managers of Z Energy are not sure what the required rate of return...
-
Define an interface TwoStrings Oper declaring a function apply which takes two strings and returns a string. Then, define four classes implementing this interface, where the operation on strings...
-
When accountants are not independent, which of the following reports can they nevertheless issue? a. Compilation report. b. Standard unmodified audit report. c. Examination report on a forecast. d....
-
Separate variables and use partial fractions to solve the initial value problems in Problems 18. Use either the exact solution or a computer-generated slope field to sketch the graphs of several...
-
Ellis Perry is an electronics components manufacturer. Information about the company's two products follows: \ table [ [ , , , ] , [ Units produced,AM - 2 , FM - 9 , ] , [ Direct labor hours required...
-
Which of the following requirements to claim Earned Income Tax Credit is TRUE? The credit can be claimed under any filing status. The taxpayer must have a valid SSN for employment in the U.S., issued...
-
Olde Tyme Beverage Companys operating activities for the year are listed below. Cost of Goods Manufactured $131,000 Operating expenses 80,000 Beginning inventory, FG 16,000 Ending inventory, FG...
Study smarter with the SolutionInn App