Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

J. Keith commenced business on 1 September, and had several special transactions during the month: Date Transactions Sept 01 Keith contributed the following to the

J. Keith commenced business on 1 September, and had several special transactions during the month:

Date

Transactions

Sept 01

Keith contributed the following to the business: Premises $75,000, Cash $3,000,

Mortgage on Premises $30,000 and Shop Fittings $3,000.

Sept 09

Keith gave the business a Motor Vehicle valued at $5,000 to be used for delivering goods to customers.

Sept 11

Stock costing $100 plus $10 GST was taken by Keiths children.

Sept 14

Surplus shelving, valued at $80 plus $8 GST, was taken by Keith for storing tools in his home garage.

Task 8

Record journal entries from the above listed special transactions.

General Journal John Keith

Date

Particulars

Debit

Credit

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions