90.2K

Verified Solution

Link Copied!

HF #? * FF HF # F * FF # 4.2 Write up the following transactions in the books of P Hewitt: 20X8 March 1 Started in business with cash 8,500. 2 Bought goods on credit from W Young 420. 3 Paid rent by cash 210. 4 Paid 6,000 of the cash of the business into a bank account. 5 Sold goods on credit to D Unbar 192. 7 Bought stationery 25 paying by cheque. 11 Cash sales 81. 14 Goods returned by us to W Young 54. 17 Sold goods on credit to J Harper 212. 20 Paid for repairs to the building by cash 78. 22 D Unbar returned goods to us 22. 27 Paid W Young by cheque 366. 28 Cash purchases 470. 29 Bought a van paying by cheque 3,850. 30 Paid motor expenses in cash 62. 31 Bought fixtures 840 on credit from B Coal. 4.3A Prepare the double entries (not the T-accounts) for the following transactions using the format Dr Account name x Account name July 1 Started in business with 5,000 in the bank and 1,000 cash. 2 Bought stationery by cheque 75. 3 Bought goods on credit from T Smart 2,100. 4 Sold goods for cash 340. 5 Paid Insurance by cash 290. 7 Bought a computer on credit from J Hott 700. 8 Paid expenses by cheque 32. 10 Sold goods on credit to C Biggins 630. 11 Returned goods to T Smart 550. 14 Paid wages by cash 210. 17 Paid rent by cheque 225. 20 Received cheque 400 from C Biggins. 21 Paid J Hott by cheque 700. 23 Bought stationery on credit from News Ltd 125. 25 Sold goods on credit to F Tank [645. 31 Paid News Ltd by cheque 125. Date Cr EX 2 11 . 21 11 21 11

Answer & Explanation Solved by verified expert

See Answer