Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 25 Marks The following transactions was extracted from the books of Tesco The owner of Tesco Traders took a loan from FD Traders

image text in transcribed

Question 1 25 Marks The following transactions was extracted from the books of Tesco The owner of Tesco Traders took a loan from FD Traders for February 2019. 1. Bank of NS 25 800 before starting the business and invested the money into Tesco Traders; 2. The business ess acquired motor vehicle worth NS 10 500 from Chi Toyota on credit, goods valued at N$ 5 000 and received a cheque of N$ 4 750 from Unam in exchange for goods; 4. P 5. Issued a debit note for N$ 300 to Game Store 6. Settled Game Store account in full settlement an amount N$ 4 000 by cheque; 7. Sold goods on credit to Mr. TT worth N$ 10 000; 8. Received a cheque from Mr. TT after allowing 5% settlement discount; 9. Owner took his personal cheque and paid for business rent of N$ 6 000 and for his son urchased goods for resale worth N$ 4 500 on credit from Game Store; Unam tuition fee of N$ 11 200. 10. Tesco Traders received a Furniture from Company A as a token of appreciation, worth N$ 2 350. 11. A debtor Ms. HK owed N$ 1 400, was declared bankcrupt. Required: Journalise the above transactions for February 2019: NARATIONS ARE NOT REQUIRED Page 9 of 16

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

Step: 3

blur-text-image

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

Not For Profit Entities Audit And Accounting Guide

Authors: AICPA

1st Edition

1937351971, 978-1937351977

More Books

Students also viewed these Accounting questions

Question

Make a Communication Plan for ERP Project

Answered: 1 week ago

Question

What is Indian Polity and Governance ?

Answered: 1 week ago