Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you please assist me it's an assignment due today at 8 in the evening Open T accounts and use the double entry accounting rule

can you please assist me it's an assignment due today at 8 in the evening image text in transcribed

Open T accounts and use the double entry accounting rule to enter the transactions below. which were made on Pikeville farming enterprises. Give each account a name and the credit and debit sides must be reflected on each account. 1. The farm manager borrows R300 000 from the bank and starts a cattle farming business. (05) 2. The farm manager bought breeding livestock worth R200 000 on credit. (05) 3. A sale of maize worth R20 000 was made with a R10 000 deposit paid in cash. (05) 4. The farm owner withdraws R10 000 from the business account for personal household expenses. (05) 5. R20 000 worth of feed was purchased in cash. (05) 6. Feed concentrates and mineral salts were purchased in cash for R10 000. (05) 7. Meat was sold cash for R50 000 in cash. (05) 8. A R5 000 cash payment was made for the vaccination. (05)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting Volume 2

Authors: Thomas Beechy, Joan Conrod, Elizabeth Farrell, Ingrid McLeod-Dick

6th Edition

1259105482, 9780071338820

More Books

Students also viewed these Accounting questions

Question

2. Avoid basing most of a report-card grade on one test.

Answered: 1 week ago