Question
F ollowing trans a ctions o ccurred d u ring J u ne for Campus Cycle S hop. (10 MARKS) a. T yler inve s
Following transactions occurred during June for Campus Cycle Shop. (10 MARKS)
a. Tyler invested $6,500 in the bike service from his personal savings account.
b. Bought office equipment for cash, $900.
c. Performed bike service for a customer on account, $1,000.
d. Company cell phone bill received, but not paid, $80.
e. Collected $500 from customer in transaction c.
f. Tyler withdrew $300 for personal use.
Required:
a) Record the above transactions in the General Journal. Posting reference will be Page 1 of General Journal. b) Post the transactions in the ledgers. c) Assign a numbering system to the accounts to be used as posting references.
Following transactions occurred during June for Campus Cycle Shop. (10 MARKS)
a. Tyler invested $6,500 in the bike service from his personal savings account.
b. Bought office equipment for cash, $900.
c. Performed bike service for a customer on account, $1,000.
d. Company cell phone bill received, but not paid, $80.
e. Collected $500 from customer in transaction c.
f. Tyler withdrew $300 for personal use.
Required:
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Cost Accounting
Authors: Edward B. Deakin, Michael Maher
3rd Edition
9780256069198
