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please solve this problem On 1 January, P Roberts starts a business with $2,500 in the bank and $500 cash. The following transactions occur: 2
please solve this problem
please solve this problem
On 1 January, P Roberts starts a business with $2,500 in the bank and $500 cash. The following transactions occur: 2 Jan He buys raw materials on credit for $700 from J Martin. 3 Jan He sells goods for $300 on credit to G Goddard. 7 Jan He sells goods for $1,100 to K Lemon on credit. 12 Jan He buys equipment for $3,000, paying by cheque. 18 Jan He pays wages of $50 by cheque. 20 Jan He buys raw materials for $350, paying by cheque. He takes $80 from the cash box for himself. 28 Jan He pays J Martin $250 by cheque. 30 Jan He transfers $200 cash into the bank from his cash box. Required: (a) Record the above transactions in the ledger accounts provided below. On 1 January, P Roberts starts a business with $2,500 in the bank and $500 cash. The following transactions occur: 2 Jan He buys raw materials on credit for $700 from J Martin. 3 Jan He sells goods for $300 on credit to G Goddard. 7 Jan He sells goods for $1,100 to K Lemon on credit. 12 Jan He buys equipment for $3,000, paying by cheque. 18 Jan He pays wages of $50 by cheque. 20 Jan He buys raw materials for $350, paying by cheque. He takes $80 from the cash box for himself. 28 Jan He pays J Martin $250 by cheque. 30 Jan He transfers $200 cash into the bank from his cash box. Required: (a) Record the above transactions in the ledger accounts provided below
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