Question
Q2. Sledge Rental Services was established on June 1, 2021. The following transactions took place during the first month of business. 2021 June 1 Mr.
Q2. Sledge Rental Services was established on June 1, 2021. The following transactions took place during the first month of business.
2021
June 1 Mr. Sledge invested Tk.80,000 cash in the business.
8 Purchased equipment for Tk.10,000 of which 80% paid is cash and rest payable on notes. 10 Revenues earned for services performed are worth Tk.20,000 where 4/5 of the amount is received in cash and the remaining is due.
18 Received Tk.5,000 cash in advance as rent from tenant.
20 Salaries expense Tk.10,000 and utilities expense Tk.2,000 accrued for the month.
Requirements: Prepare the followings using the transactions above:
i) Journal entries for the month of June (ignore explanations)
ii) Ledger
iii) Trial Balance
iv) Income Statement
v) Owners Equity Statement
vi) Balance Sheet
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