Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

the following are the transaction of unza limited for the month of june 2018 june 1 introduced capital of k 95,000 into the bank june

the following are the transaction of unza limited for the month of june 2018

june 1 introduced capital of k 95,000 into the bank

june 2 purchased goods on credit from smith and co for k 8000

june 3 cash sales k320

june 5 sold goods on credit to p jones for k 700

june 6 cash purchases k300

june 8 purchased goods on credit from smith and co. for k 1600

june 9 paid smith and co. k 7000 by cheque

june 11 paid wages k 960 by cheque

june 12 paid wages by cash k80

june 15 sold goods on credit to s.roche for k 1600

june 17 s. roche returned goods , k700

june 19 p.jones paid k 90 and was allowed k 6 % discount

june 22 paid ligh and heat by cheque k 400

june 23 purchsed delivery van by cheque k 8000

june 25 s.roche cleared his account and was allowed 5 % discount

june 27 paid wages by cheque by cheque k 820

june 28 cash sales k 1000

june 29 drawings by cheque k 450

june 30 paid wages by cheque k 820

1) complete the double entries for each transaction clearly indicating a debit and credit entires

2) post the entries to the ledger or T accounts and balance the accounts

3) complete the trial balance

4) prepare the income statement

5) prepare the balance sheet

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

Information Technology Auditing

Authors: Hall, J Scott Harr

3rd Edition

1133008046, 978-1439079119

More Books

Students also viewed these Accounting questions

Question

Define fraud.

Answered: 1 week ago

Question

What attracts you about this role?

Answered: 1 week ago

Question

How many states in India?

Answered: 1 week ago

Question

HOW IS MARKETING CHANGING WITH ARTIFITIAL INTELIGENCE

Answered: 1 week ago