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Assignment 2 BU 102 Consider the following...

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Accounting

Assignment 2
BU 102
Consider the following transactions. Complete the full Accounting Cycle. Submit this assignment on Thursday March 21,2024 before exam.
March 1 Mr. Smith added $50,000 Capital to his business ABC company Ltd.
March 2 Purchased an Insurance Policy paying $2,400 annual premium in advance.
March 5 Purchased goods by paying cash 25000
March 5 Purchased Office Supplies on credit from $2,000
March 6 Sales of goods customer will pay later 30,000
March 6 Purchased Furniture for cash 18000
March 7 Sold goods for cash 10,000
March 10 Equipment purchased on account 40000
March15 Wages paid to employees 10000
March 25 Purchased inventory for cash 19000
March 29 Withdrew for personal use 1500
March 31 Paid salaries 10000

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