Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

draw up a t accounts for above question You are required to open the asset and liability and capital account and record the following transactions

image text in transcribed

draw up a t accounts for above question

You are required to open the asset and liability and capital account and record the following transactions for June 2017 in the records of P. Bernard. 2017 June 1 Started business with $17,500 in cash 2 Paid $9,400 of the opening cash into a banks account for the business 5 Bought office furniture on time from Dream Ltd for $2,100 8 Bought a van paying by internet transfer from the bank account $5,250 12 Bought equipment from Pearce \& Sons on time $2,300 18 Returned faulty office furniture costing $260 to Dream Ltd. 25 Sold some of the equipment for $200 cash 26 Paid amount owing to Dream Ltd $1,840 by internet transfer from the bank accou 28 Took $130 out of the bank and added to cash 30 F. Brown lent us $4,000 sending us the money by internet transfer

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

BMW Brand Audit

Authors: Marion Maguire

1st Edition

3638653137, 978-3638653138

More Books

Students also viewed these Accounting questions

Question

Explain how to plan proposals. [page 353]

Answered: 1 week ago

Question

Classify delivery styles by type.

Answered: 1 week ago