Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Write up the following transactions in the books of S Pink: 2003 March 1 Started business with cash Sh.1,000. 2 Bought goods on credit

Write up the following transactions in the books of S Pink:

2003

March 1 Started business with cash Sh.1,000.

" 2 Bought goods on credit from A Cliks Sh.296.

" 3 Paid rent by cash Sh.28.

" 4 Paid Sh.1,000 of the cash of the firm into a bank account.

" 5 Sold goods on credit to J Simpson Sh.54.

" 7 Bought stationery Sh.15 paying by cheque.

" 11 Cash sales Sh.49.

" 14 Goods returned by us to A Cliks Sh.17.

" 17 Sold goods on credit to P Lutz Sh.29.

" 20 Paid for repairs to the building by cash Sh.18.

" 22 J Simpson returned goods to us Sh.14.

" 27 Paid A Cliks by cheque Sh.279.

" 28 Cash purchases Sh.125.

" 29 Bought a motor vehicle paying by cheque Sh.395.

" 30 Paid motor expenses in cash Sh.15.

" 31 Bought fixtures Sh.120 on credit from R west.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial and Managerial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

12th edition

978-1133952428, 1285078578, 1133952429, 978-1285078571

Students also viewed these Accounting questions