Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are preparing M. Simms' books for September 2018. The following were his transactions: Sep 1 1 24 9 8 10 20 25 26 26

You are preparing M. Simms' books for September 2018. The following were his transactions: Sep 1 1 24 9 8 10 20 25 26 26 27 29 M. Simms started business with motor car valued $12 000; fixtures & fittings $18 500 Purchased goods on credit from A. Matthews $1600 Sold goods on credit to M. Harvey $1400 Bought goods from C. Walker on credit $1300 Sold B. Brown on credit $2200 Returned goods to C. Walker $200 Sold goods on credit to M. Smith $1400 M Simms brought his personal computer in the business which valued $5 000 Bought goods on credit from R. Evans $800 Goods returned by B. Brown $200 Purchased goods from P. Cross on credit for $220 Required: A. Bought equipment on credit from Singer for $12.500 Bought furniture on credit from Courts $11 300 Enter all transactions in the following books of original entry: i. Sales Journal (7marks) ii. Purchases Journal (9marks) iii. Returns Inward Journal (3marks) iv. Returns Outward Journal (3marks) v. General Journal (15 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

Accounting

Authors: Thomson, South Western

22nd Edition

032464020X, 978-0324640205

More Books

Students also viewed these Accounting questions

Question

What is Accounting?

Answered: 1 week ago

Question

Define organisation chart

Answered: 1 week ago

Question

What are the advantages of planning ?

Answered: 1 week ago

Question

Explain the factors that determine the degree of decentralisation

Answered: 1 week ago

Question

Question What integration level should an employer choose?

Answered: 1 week ago