Keith Wilson started a new business on 1 June 20-7. In your ledger write up the double
Question:
Keith Wilson started a new business on 1 June 20-7. In your ledger write up the double entry accounts needed to record the following transactions:
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Jun 1 Started business with 10,000 in cash 2 Bought goods on credit from Kruger Imports costing 502.54 plus VAT 87.94, total invoice 590.48 3 Paid rent of 250.00 in cash 6 Paid 9,000 of the cash into a business bank account 8 Sold goods on credit to J. Stevens priced at 250.92 plus VAT 43.91, total invoice 294.83 10 Bought goods on credit from A. Dawson costing 329.50 plus VAT 57.66, total invoice 387.16 12 Keith Wilson took 175 cash for his own use 14 Goods returned by J. Stevens priced at 25.90 plus VAT 4.53; a credit note for 30.43 is issued 16 Returned goods to Kruger Imports costing 38.52 plus VAT 6.74; a credit note for 45.26 is received
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Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)