Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Create Trial Balance from the following transactions; Started business on 1st January 2011 with a capital of $100,000 in cash. On the same date he

Create Trial Balance from the following transactions; Started business on 1st January 2011 with a capital of $100,000 in cash. On the same date he opened the bank account in ADCB and deposited $20,000. Bought goods for cash 70,000 Sold goods to Steve Co. (Credit) 38,000 Sold goods for cash 9,000 Steve Co. paid by cheque 35,000 Stationery bill paid by cheque 2,000 Telephone bill by cash 500 Paid rent by cash 2,000 Paid salaries by cash 3,000 Withdrew cash personal use 5,000

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

More Books

Students also viewed these Accounting questions

Question

2. Describe how technology can impact intercultural interaction.

Answered: 1 week ago