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Question 2. Prepare a transaction analysis chart given in the table Yellow Cabs Taxi owner, Mathew Jones started his taxi business on 1 May 2020
Question 2. Prepare a transaction analysis chart given in the table
Yellow Cabs Taxi owner, Mathew Jones started his taxi business on 1 May 2020 by depositing K 140000 into the business bank account. The rest of the transactions for the month of May are as follows: \\begin{tabular}{|l|l|} \\hline 13 & Taxi services provided on credit to City Pharmacy Ltd, for K1800. \\\\ \\hline 18 & Received cash from City Pharmacy Ltd, for an amount of K 1200. \\\\ \\hline 19 & Paid wages K 2400. \\\\ \\hline 20 & Taxi services provided on credit to City Pharmacy Ltd K2 600. \\\\ \\hline 22 & Cash received from City Pharmacy Ltd K2 000. \\\\ \\hline 24 & Purchased fuel on credit from Islander Service Station for K250. \\\\ \\hline 26 & Taxi fare income received in cash for K 1 800. \\\\ \\hline 27 & Purchased a car for K25 000 paying cash. \\\\ \\hline & Paid K400 cash for registration and insurance for the new car . \\\\ \\hline 28 & Paid K200 to Islander Service Station. \\\\ \\hline & Paid wages K2 500. \\\\ \\hline 29 & \\( \\begin{array}{l}\\text { Taxi service expenses paid in cash, K2 500. } \\\\ \\text { deposit. The balance of K14 000 will be paid later. }\\end{array} \\) \\\\ \\hline & Taxi fare income received K2 000. \\\\ \\hline & Additional capital contributed in cash K30 000. \\\\ \\hline \\end{tabular}Step by Step Solution
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