Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

O 239% 0 A A T Type A A Draw No Presets John invested his $50,000 cash savings to start the New Age Bakery business

O 239% 0 A A T Type A A Draw No Presets John invested his $50,000 cash savings to start the New Age Bakery business on January 1. The bakery purchases baking equipment paying $25,000 cash on January 3. It Purchases a delivery van for $15,000, paying $8,000 cash and the rest on account. John buys baking supplies for $5,000 cash January 5. John purchased furniture costing $6,200 from XYZ Ltd on account January 10 John paid salary of $350 to sales person on Jan 15 Cash sales totaled $4,500 on January 16 Delivery van liability was half paid back on January 18. John paid utilities, $420 on January 20 John withdrew $200 for personal use on January 25 Sales on account totaled $4,000 on January 30
image text in transcribed
John invested his $50,000 cash savings to start the New Age Bakery business on January 1. The bakery purchases baking equipment paying $25,000 cash on January 3. It Purchases a delivery van for $15,000, paying $8,000 cash and the rest on account. John buys baking supplies for $5,000 cash January 5 . John purchased furniture costing $6,200 from XYZLtd on account January 10 John paid salary of $350 to sales person on Jan 15 Cash sales totaled $4,500 on January 16 Delivery van liability was half paid back on January 18. John paid utilities, $420 on January 20 John withdrew $200 for personal use on January 25 Sales on account totaled $4,000 on January 30 John invested his $50,000 cash savings to start the New Age Bakery business on January 1. The bakery purchases baking equipment paying $25,000 cash on January 3. It Purchases a delivery van for $15,000, paying $8,000 cash and the rest on account. John buys baking supplies for $5,000 cash January 5 . John purchased furniture costing $6,200 from XYZLtd on account January 10 John paid salary of $350 to sales person on Jan 15 Cash sales totaled $4,500 on January 16 Delivery van liability was half paid back on January 18. John paid utilities, $420 on January 20 John withdrew $200 for personal use on January 25 Sales on account totaled $4,000 on January 30

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

Auditing Theory And Practice

Authors: Arun Kumar & Rachana Sharma

1st Edition

8171567207, 978-8171567201

More Books

Students also viewed these Accounting questions

Question

9. Describe the characteristics of power.

Answered: 1 week ago