Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Royal Hair Services Sept. Started business with 12,000 cedis consisting 4,000 cash and 8,000 cheque 2 Bought a Container for 5,000 cedis and Furniture 800

image text in transcribed
Royal Hair Services Sept. Started business with 12,000 cedis consisting 4,000 cash and 8,000 cheque 2 Bought a Container for 5,000 cedis and Furniture 800 cedis paying cheque 3 Purchased 2 hair dryers at 350 cedis each paying with Cash 4 Bought 2 clippers at 100 cedi each paying with Cash 5 Purchases hair supplies by Cash for 2,000 cedis 6 Bought water on credit for 50 cedis 7 Rendered hair services for Cash 520 cedis 8 Rendered hair services for Cash 920 cedis 9 Rendered services on credit 100 cedis 10 Paid Wages for 200 cedis Cash Required: a. Journalize the above transactions b. Post them into their respective accounts balance off the accounts c. Extract the trial balance as at September 30, 2020. d. Prepare the statement of profit or loss account for the month ended September 30, 2020, 2020 and c. Statement of financial position as at that date

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

Pioneers Of Critical Accounting A Celebration Of The Life Of Tony Lowe

Authors: Jim Haslam, Prem Sikka

1st Edition

113754211X, 9781137542113

More Books

Students also viewed these Accounting questions

Question

=+a. Can the reader find the most important message?

Answered: 1 week ago