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es/2630/assignments/13326?module_item_id=4285/ Page 4 Question 3 (a) Wonderful Enterprises started its business in December 2021 and provides the following transactions from its books of accounts: Started
es/2630/assignments/13326?module_item_id=4285/ Page 4 Question 3 (a) Wonderful Enterprises started its business in December 2021 and provides the following transactions from its books of accounts: Started business with capital of $10,000 cash. 2 . Opened bank account on its name with $15,000. 3. Purchased goods from Sheen Lid for $6,000 4 . Bought Motor Vehicle for $9,450. 5. Sold goods to Far East Lid for $15,000. 6. Returned goods to Sheen Lid worth $880. 7. Bought 4 cartons of paper for $10 each on cash. 8 . Paid rental deposit of $3,500. 9 . Sold goods to Kleenex Lid for $4,500. 10 Interest received $1,600 by cheque. 11. Borrowed $12,000 from China Bank in cash. 12. Bought Computer for office use from Apple Lid $2,999. 13. Paid casual labour $750. 14. Kleenex Lid returned goods to us amounting to $840. 15. The proprietor withdrew from bank for private use $5,000. Required: Prepare the journal entries for the above transactions in the books of Wonderful Enterprises for the month of December 2021 (Note: Narrations are not required). (15 marks)
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