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At the end of September 2015, our balance was $6,000 with Capital $10,000. The cost of our stock was $1,700 with a net realisable value
At the end of September 2015, our balance was $6,000 with Capital $10,000. The cost of our stock was $1,700 with a net realisable value of $2000. Also, our customer, Tong Inc owed us $1,600 due to credit sale transaction during the month. 2020, October 1 Bought fixtures on credit from Chan $3,106 We take goods costing $700 out of the business transactions without paying for them 10 $420 of the goods taken by us on 4th August is returned back into inventory by us. We do not take any money for the return of the goods. 12 Tong is unable to pay his debt. We agree to take some office equipment from him at that value, then cancel the debt. 17 Paid in $2,000 in cash for the current rent month's. 24 Cash purchase from Xin Jui amounting $600 30 Sold all our stocks to Tinting for $2600 on credit, 2/10, n=30. a) Journalize the following business transactions in general journal from the month of September b) Prepare the trial balance, income statement and balance sheet of the company to determine their financial performance. At the end of September 2015, our balance was $6,000 with Capital $10,000. The cost of our stock was $1,700 with a net realisable value of $2000. Also, our customer, Tong Inc owed us $1,600 due to credit sale transaction during the month. 2020, October 1 Bought fixtures on credit from Chan $3,106 We take goods costing $700 out of the business transactions without paying for them 10 $420 of the goods taken by us on 4th August is returned back into inventory by us. We do not take any money for the return of the goods. 12 Tong is unable to pay his debt. We agree to take some office equipment from him at that value, then cancel the debt. 17 Paid in $2,000 in cash for the current rent month's. 24 Cash purchase from Xin Jui amounting $600 30 Sold all our stocks to Tinting for $2600 on credit, 2/10, n=30. a) Journalize the following business transactions in general journal from the month of September b) Prepare the trial balance, income statement and balance sheet of the company to determine their financial performance
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