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I need the solution to the sub-parts C and D of the problems (Not A and B). Please help me James Jackson has decided to
I need the solution to the sub-parts C and D of the problems (Not A and B). Please help me
James Jackson has decided to establish a Pet Warehouse business as a sole trader. For the six months to 30 June 2017 he has the following transactions: 1. James invested $20000 in savings into an account for the business venture. 2. James located a small building that he could rent for $250 per month and pays 6 months rent which he records as an expense He also purchases stock of pet supplies worth S5500. He pays $1500 in cash and agrees to settle the balance in 60 days. Sales for the six months were $6000 cash and $12000 on credit. He received $11000 in cash from customers and paid $3600 to suppliers In April the business bought grooming equipment worth $7500 and paid S1000 in cash taking out a loan of $6500 for the balance. Electricity expense for the period paid in cash totalled $850; and James has received a bill for 1 month owing $310 that he has not yet paid and he wants recorded. 3. 4. 5. 6. 7. 8. Advertising cost $650 for the six months was paid in cash 9. James has withdrawn $1400 to pay for personal expenses. 10. At the end of the month there is $2900 worth of pet supplies in stock. James has no accounting knowledge and has asked you toStep by Step Solution
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