S. Munro started a new business on 1 July. In your ledger write up the double entry
Question:
S. Munro started a new business on 1 July. In your ledger write up the double entry accounts needed to record the following transactions:
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Jul 1 2 Started a new business with 8,000 in a business bank account Bought goods on credit from M. Clifton costing 362.40 plus VAT 63.42, total invoice 425.82 5 Withdrew 500 cash from the bank for use in the business. 8 Bought goods on credit from E. Mason costing 273.50 plus VAT 47.86, total invoice 321.36 14 Goods returned to M. Clifton for 68.40 plus VAT 11.97, a credit note for 80.37 is received 19 Bought goods on credit from E. Mason costing 420.76 plus VAT 73.63, total invoice 494.39 25 Paid M. Clifton 250 in cash 27 Goods returned to E. Mason for 58.30 plus VAT 10.20, a credit note for 68.50 is received 31 Paid E. Mason 747.25 by cheque
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Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.