Double entry system of expense and revenue and impact of profit and loss on capital 4.3A Prepare the double entries (not the T-accounts) for
Double entry system of expense and revenue and impact of profit and loss on capital 4.3A Prepare the double entries (not the T-accounts) for the following transactions using the format: Date Dr Cr Account name Ex Account name Ex July 1 " 2 Started in business with 5,000 in the bank and 1,000 cash. Bought stationery by cheque 75. " 3 Bought goods on credit from T Smart 2,100. " 4 Sold goods for cash 340. " 5 Paid insurance by cash 290. " 7 " 8 Bought a computer on credit from J Hott 700. Paid expenses by cheque 32. Paid wages by cash 210. Paid rent by cheque 225. " " " " " " " " " 10 11 14 17 20 21 23 25 31 Returned goods to T Smart 550. Received cheque 400 from C Biggins. Paid J Hott by cheque 700. Bought stationery on credit from News Ltd 125. Sold goods on credit to F Tank 645. Paid News Ltd by cheque 125. Sold goods on credit to C Biggins 630.
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