Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q8B The chart at acconts tar Skate 'nSut contain the accounts and account numhers belns. 100 Cash at bank 110 Atounts receivable 120 Inventory 130

Q8Bimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

The chart at acconts tar Skate 'nSut contain the accounts and account numhers belns. 100 Cash at bank 110 Atounts receivable 120 Inventory 130 Prapald haurance 171 Shan ?quipment rcnst) 200 Atcounts payable 210 PAYG withholding payabic 220 Superanruation payabla 230 Bank Ihan 30 Capital 320 Protit or los summary 410 Sales returns and slowance 420 Discount recaived 300 Cort of sacs 620 Discount sluwe 030 lectricity expense G10 Inaurancc 60 Pstage and statienery ense 60 Superannuation experse 080 Talephone expense 000 wages exper lune 1 The awneropeneda bank account for the business with a depasit o $3100 s is captal pided by him. bank loen is reparable over 4 yeers 2 Raid $3,900 for ? 1 year insurance policr covering fire, theft, and public liability. 2 Pald $1,090 to Local NeNspapers tor aduertsirg tar the shep tor tha morth. S Purchaied inventerv (skatchards and protective o-ar) from Facitement plus far s??.no) ?? tems on rst 30. g Credit sae to Srious Fun ofkateboerds and protective pesr for5,3 (o cf sales 2,000). This tustomer was given terms of yio, n30 Cach purchase or pastaan stamps and statianery trom Australia Pest tor s180. 12 Cedit sae to Suring Wrld of vaicus imentary items for $7,910 sor sale 34,100). Terms ner 30. 12 Reurreu surne protective ve, tu teatement ?us thst was faulty and received an edjustment rote (redit "ute) from them fur $1.00. 13 Received ? dreque from serious Fun for the amourtown by them after deducting the prompt payment discount. 14 Pald Surt Imports the amount owing to them Ias the prompt payment dscount. 17 rndit sa tn Academv Divir9 5maal or t 5 wetsuit; at a discounted p?OR of?350 Rach on terms of nat 15. Cast at sales?4,500. 2 Paid Exotement Pus $4,400 the amout owing to tem 24 Issued an edustment note credit note to Academy DMng Schoo for 1 vetsuit et S350 eBCh that as not the ze they required. I e cost o 21 Purchased wotzuits from Surf Import for 8,000 on terms of 10/10, ry30. 25 Cradit sac ta Sarious Fun ot skatoboares tor $7,500 (coat ot salas $3,7 Tarms 51D, ny30. 77 Rersived and hanked dan' from Acadering DY?ng Schol ror the amClint owing by them. e wetsuit to us as S30U and it?as put becki to i ventory. 30 The owner cashed a cheque for 775 to pay nages to Scott Walker the sales assistant of S800 less PAYG withholding of $25

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

The Organisational Change Audit

Authors: Ralph Houston

1st Edition

1907766014, 978-1907766015

More Books

Students also viewed these Accounting questions

Question

Distinguish between formal and informal reports.

Answered: 1 week ago