Question
Complete the following table: --------------------------------------------------------------Account to be debited ---- Account to be credited Started business with $200,000 in the bank Kowus lent the company $15,000
Complete the following table: --------------------------------------------------------------Account to be debited ---- Account to be credited
Started business with $200,000 in the bank Kowus lent the company $15,000 in cash Bought goods on credit from G. Gowen $1,530 Sold goods for cash to B. Brown$1,300
Proprietor puts further amount into business by cheque, $125,000
Bought office furniture by cash $63,700 from Amben Ltd. A debtor, J. Pike paid us by cheque $3,000 Bought car on credit from Kowus Motors $94,000 Paid office expenses by cheque, $300 Paid salaries in cash $79,000 Cash sales $10,200 Paid business rates by cheque $3,600 Returned goods to B. Brown Sold goods on credit to T. Potts $2,300 Goods were returned to us by T. Potts $560 Cash drawings by proprietor, $2,000 A debt owing to us by T. Potts $368 is written off as bad debt.
Paid $400 cash in hand into the bank account. Paid motor vehicle expenses by cheque $400 Bought goods for cash $450.
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