Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

the previous answer wasn't correct and short please do this one right. we pay alot of money to be wasting. At the beginning of April,

image text in transcribed

the previous answer wasn't correct and short please do this one right. we pay alot of money to be wasting.

At the beginning of April, Brooke Winston launched a custom computer programming co mpany called Sof tways. The company had the following transactions during April: a. Brooke Winston invested K75,000cash, office equipment with a value of K6,000, and K 25,000 of computer equipment in the Business. b. Purchased land worth K27,500 for an office by paying K5,000 cash and signing a long erm note payable for the balance. c. Purchased a portable building with K30,000 cash and moved it onto the land acquired i nb. d. Paid K7,500 cash for the premium on a three-year insurance policy. e. Provided services to a client and collected K5,400 cash. f. Purchased K5,000 of additional computer equipment by paying K2,500 cash and signin g a long-term note payable for the balance due. g. Completed K5,250 of services for a client on credit. h. Purchased K1,000 of additional office equipment f rom Yukon Office Supply on credit. i. Completed services for Johnson and Company for K10,200 on credit. j. Received a bill for K650 for rent of a piece of computer equipment used on a recently c ompleted job. The bill is to be paid with in 30 days. k. Received K5,100 from Johnson and Company for work completed in transaction i. I. Semi-Monthly payroll totaled K2,000 and was paid in cash. m. Paid K1,000 to Yukon Office Supply for office equipment purchased in transaction h. n. Paid K750 for minor repairs on computer equipment. o. Paid K1,800 cash for advertising. p. Semi-Monthly payroll totaled K2,000 and was paid in cash. q. Paid K5,000cash for dividends. 1 Required: Enter the above transactions in the books balance off the accounts and extract a trial bal ance [25 Marks]

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

More Books

Students also viewed these Accounting questions