Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plese answer this 3 ) (30 ) L04 The Following Transactions Extracted from LBC Company 1. On October 1, 2015. LBC Company starts new business

plese answer this image text in transcribed
3 ) (30 ) L04 The Following Transactions Extracted from LBC Company 1. On October 1, 2015. LBC Company starts new business by investing $900,000 Cash. 2. On October 6, 2015. LBC Company transfer $400,000 cash to bank 3. On October 10, 2015 LBC Company purchased Land $80,000. Paid $50,000 Sheque rest on credit 4. On October 15, 2015. LBC Company provided services $250,000 cash. 5. On October 19, 2015. LBC Company purchased goods from Khalfan on credit $90,000 6. On October 23, 2015. LBC Company sold goods on credit $19,000 to Ahmed. 7. On October 24, 2015. LBC Company paid cash $50,000 to Khalfan. 8. On October 25, 2015. LBC Company received cheque $10,000 from Ahmed. 9. On October 26, 2015. LBC Company paid cash water expense $5,000, salary expense $10,000 and rent expense $15,000 10. On October 30, 2015. LBC Company owners withdraw cash $4,000 for personal use. Requirement: From above transactions prepare: 1. Journal Book 2. Ledger Book 3. Trial Balance 4. Income Statement 5. Statement of Change in Equity Ch : 10 1GB : Word , Excel , PPT , PDF

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_2

Step: 3

blur-text-image_3

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

Accounting Ethics

Authors: Ronald F. Duska, Brenda Shay Duska, Kenneth Wm. Kury

3rd Edition

1119118786, 9781119118787

More Books

Students also viewed these Accounting questions

Question

Discuss the value of adult learning theory to HRD interventions

Answered: 1 week ago

Question

Conduct a task analysis for a job of your choosing

Answered: 1 week ago