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Please prepare a workbook using the bottom template. A list of accounts of a business at the start of a week is as follows: During
Please prepare a workbook using the bottom template.
A list of accounts of a business at the start of a week is as follows: During the week the following transactions take place: - Sold inventory for $11,000 cash. The inventory has cost $8,000. - Sold inventory for $23,000 on credit. This inventory had cost $17,000. - Received cash from trade debtors totalling $18,000. - The owners of the business introduced $100,000 of their own money which was placed in a business bank account - Bought a motor vehicle, for $40,000. Paid $10,000 cash. Balance a loan from ABC Finance. - Paid wages $1500 cash - Bought inventory on credit for $14,000. - Paid weekly Rent $350 - Paid trade creditors for $13,000. - Paid Gas account $150 Prepare: A workbook and post these opening balances and transactions \begin{tabular}{|l|l|l|l|l|l|l|l|l|l|l|l|l|l|l|} \hline \multicolumn{9}{|c|}{ Assets } & \multicolumn{3}{c|}{ Liabilities } & \multicolumn{2}{|c|}{ Equity } & \multicolumn{2}{c|}{ProfrtLoss} \\ \hline & & & & & & & & & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular}Step by Step Solution
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