Question
Hi,could you help me with this question? It is urgent. Thanks a lot. Enter the following transactions in the books of Jennifer Hickey for December
Hi,could you help me with this question? It is urgent. Thanks a lot.
Enter the following transactions in the books of Jennifer Hickey for December (Use T-Accounts), balance the accounts and extract her trial balance. Prepare the Statement of Comprehensive Income and Statement of Financial Position.
1 December Introduced a motor vehicle to the new business worth 8,000
1 December Transferred computer from home to business 500
1 December Withdrew 200 cash from her personal account to cover the cash expenses of the business (i.e. lodged to Cash A/c)
1 December Put a cheque in the business bank account to cover business start-up costs 10,000
1 December Purchased goods for sale by cheque 4,000
2 December Bought a van using a loan from the bank 15,000
2 December Bought office equipment using a loan from the bank 5,000
3 December Received cheques amounting to 5,000 for sales made
4 December Purchased stationary for 450 using cheque
5 December Purchased envelopes for 25 using cash
6 December Paid wages by cheque 400
9 December Purchased goods for sales for 2,000 by cheque
10 December Sales lodged at bank 3,000
10 December Cash sales 1,000
12 December Cash lodged at bank 800
14 December Pens purchased in cash 20
15 December Loan instalment paid using direct debit from bank 1,000
18 December Mary wrote a cheque to her personal account 2,000
21 December Petrol paid by cheque 280
22 December Petrol for vehicles paid by cash 40
23 December Wages paid by cheque 400
24 December Second instalment of loan paid by direct debit from bank 1,000
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