Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Write up the following transaction in the books of J. Dunn: 2017 May 01 Started in business with cash $30,000 02 Bought goods on time

Write up the following transaction in the books of J. Dunn:

2017

May 01 Started in business with cash $30,000

02 Bought goods on time from T. Lamb $700

03 Paid rent by cash $1,740.00

04 Paid $25,000 of the cash of the business into a bank account.

05 Sold goods on time to R. Still $384.00

07 Bought stationery $170 paying by cheque

11 Cash sales $624

14 Goods returned by us to T. Lamb $80

17 Sold goods on time to r. Davis $424

20 Paid for repairs to the building by cash $156

22 R. Still returned gods to us $62

27 Paid T. Lamb by cheque $620

28 Cash purchases $940

29 Bought a van paying by cheque $7,000

30 Paid motor expense in cash $432

31 Bought a computer $1,460 on time from S. Tims.

(This question has returns inwards and returns outwards dates: 14 and 22)

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

The Medicare Recovery Audit Contractor Program A Survival Guide For Healthcare Providers

Authors: Duane C. Abbey

1st Edition

1439821003, 978-1439821008

More Books

Students also viewed these Accounting questions

Question

Denge __O2(g)+__As4S6(k)--->___As4O6(k) +__SO2(k)

Answered: 1 week ago