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Question 2: (from chapter 3) Enter the following transactions in the T-accounts. Create several separate T-accounts and fill them with numbers. Each person needs their
Question 2: (from chapter 3) | |||||
Enter the following transactions in the T-accounts. Create several separate T-accounts and fill them with numbers. Each "person" needs their own T-account. | |||||
Date | Description | Amount () | |||
October 2021 | |||||
1 | Started in business with money in the bank. | 18,250 | |||
2 | Bought goods on credit from A. Malik. | 1,505 | |||
3 | Bought goods on credit from G. Smarty. | 482 | |||
5 | Sold goods for cash. | 220 | |||
6 | Returned goods to A. Malik. | 132 | |||
8 | Bought goods on credit from G. Smarty. | 380 | |||
11 | Sold goods on credit to P. Syme. | 493 | |||
14 | Sold goods for cash. | 355 | |||
18 | Took cash out of cashbox and paid it into the bank. | 270 | |||
21 | Bought a printer by cheque. | 650 | |||
22 | Sold goods on credit to H. Buchan. | 434 | |||
23 | P. Syme returned goods to us. | 180 | |||
26 | H. Buchan returned goods to us. | 28 | |||
28 | We returned goods to G. Smarty. | 77 | |||
29 | We paid A. Malik by cheque. | 1,373 | |||
31 | Bought machinery on credit from A. Cobb. | 439 |
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