Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started