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Need help to solve all the questions. The solution didn't answer all the questions Recording of Transactions in books via journal entries Date Particular s
Need help to solve all the questions. The solution didn't answer all the questions
Recording of Transactions in books via journal entries Date Particular s 2-Jan Bank A/c dr amount amount $1,00,000 To 4% debentur e bonds A/c cr $1,00,000 (being 4% debenture bonds issued) accounts receivable 3-Jan A/c dr To sale A/c cr $ 5,900 $ 5,900 (being merchandise sold on account) Purchase 5-Jan A/c dr To Accounts Payable A/C cr $ 2,700 $ 2,700 (being merchandise purchased on account) 7-Jan Bank A/C dr To Accounts receivable A/C cr $ 6,000 $ 6,000 (being amount collected from customers on account) Freight 8-Jan A/C dr $ 180 To Bank A/c cr $ 180 (being freight charges on purchase of inventory paid) Accounts Payable 9-Jan A/C dr $ 20,000 To Bank A/c cr $ 20,000 (being amount paid to creditors on account) sales Return 9-Jan A/C dr To Accounts receivable A/c cr $ 300 $ 300 (being merchandise sold on credit returned) 10-Jan Bank A/c dr $ 15,500 To sales A/c cr $ 15,500 (being sold for cash) accounts receivable 11-Jan A/c dr To sale A/c cr $ 2,800 $ 2,800 (being merchandise sold on account) Warehoo use rent 12-Jan A/c dr To bank A/c cr $ 1,000 $ 1,000 (being warehous e rent paid) 14-Jan Bank A/c dr To Account receivable a/c cr $ 2,800 $ 2,800 (being amount received from customer) Dividend 15-Jan A/C dr To Bank A/c cr $ 800 $ 800 (paid dividend) Purchase 16-Jan A/c dr To Accounts Payable A/C cr $ 30,400 $ 30,400 (being merchandise purchased on account) Office expenses 17-Jan A/c dr To bank A/c cr $ 400 $ 400 (paid for office supplies) Accounts Payable 18-Jan A/C dr $ 200 To purchase return A/c cr $ 200 (being inventory purchased returned) 20-Jan Bank A/c dr $ 17,500 To sale A/c cr $ 17,500 (being cash sale) Equipmen 23-Jan t A/c dr $ 6,200 Installatio n cost A/c dr 500 To stock shares A/c cr $ 1,000 To Bank a/c cr $ 5,500 To additional share capital A/c cr $ 200 (being shares issued & paid cash on new equipment) 25-Jan Bank A/c dr $ 350 Accumula ted depreciati on dr $ 650 Loss on sale of asset $ 100 dr To old equipmen t A/c cr $ 1,100 (being old equipmen t sold) sales 28-Jan salary A/C dr $ 4,300 Office salary A/c dr $ 2,600 To Bank A/c $ 6,900 (being salry paid) 30-Jan Bank A/c dr $ 19,920 To sale A/c cr $ 19,920 (being cash sale made) Repair & maintena 31-Jan nce A/C dr To Bank A/c cr $ 200 $ 200 (being paid for repair & maintenance) Note- As its unclear in question what you want to do, I have recorded transactions via journal entry in books of accountsStep by Step Solution
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