Question
March 1, commenced business with cash $ 150,000 March 2; Purchased Car $ 40,000 March3; Purchased two scooters from XY Company $ 30,000 March 4:
March 1, commenced business with cash $ 150,000
March 2; Purchased Car $ 40,000
March3; Purchased two scooters from XY Company $ 30,000
March 4: Rent received $ 15,000
March 5; Telephone charges paid $ 7,000
March 6; Cash paid to XY Company $ 30,000
March 7; Sold one scooter $ 12,000
Instructions:
1. Journalize the transactions.
2. Open ledger accounts.
3. Prepare a trial balance
Step by Step Solution
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There are 3 Steps involved in it
Step: 1
March 1 Cash Assets 150000 Owners Equity Capital 150000 March 2 Car Assets 40000 Cash Assets 40000 M...
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Step: 2
Step: 3
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Financial Accounting Information for Decisions
Authors: John J. Wild
8th edition
125953300X, 978-1259533006
