C Gulliver started a new business on 1 August. In your ledger write up the double entry
Question:
C Gulliver started a new business on 1 August. In your ledger write up the double entry accounts needed to record the following transactions:
Aug 1 Started a new business with £10,000 in cash 2 Paid £8,500 of the cash into a bank account for the business 3 Bought goods costing £150, paying in cash 5 Sold goods priced at £100 on credit to F Fieldhouse 7 Bought office equipment costing £250 on credit firom Nelsons Ltd 12 Bought goods costing £650 on credit from J Black 15 Sold goods priced at £200 for cash 20Bought motor van costing £4,000 on credit from Bright Motors 24 Sold goods priced at £150 on credit to J Smith 26 Bought goods costing £450, paying in cash 27 The firm paid Nelsons Ltd £250 in cash 28 A customer, F Fieldhouse, paid the firm £100 by cheque 29 Bought display equipment costing £350, paying by cheque 30 The firm paid J Black £650 by cheque 31 Sold goods priced at £220, receiving payment by cheque
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