June 1 Introduced Capital of $95,000 June 2 Purchased goods on Credit from Smith &...
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Accounting
June 1 Introduced Capital of $95,000
June 2 Purchased goods on Credit from Smith & Co. for $8,000
June 3 Cash sales $320
June 5 Sold goods on Credit to P. Jones for $700
June 6 Cash Purchases $300
June 8 purchased goods on Credit for Smith & Co. for $1,600
June 9 Paid Smith & Co. $7,000 by cheque
June 11 Paid wages $960 by cheque
June 12 Paid wages by cash $80
June 15 Sold goods on Credit to S. Roche for $1,600
June 17 S. Roche returned goods, $700
June 19 P. Jones paid $90 and was allowed $6 discount to clear his account
June 22 Paid light and heat by cheque $400
June 23 Purchased delivery van by cheque $8,000
June 25 S. Roche cleared his account and was allowed 5% discount
June 27 Paid wages by cheque $820
June 28 Cash sales $1,000
June 29 Drawings by cheque $450
June 30 Paid wages by cheque $820.
Required: Record these transactions in AccountingEquations.
June 1 Introduced Capital of $95,000
June 2 Purchased goods on Credit from Smith & Co. for $8,000
June 3 Cash sales $320
June 5 Sold goods on Credit to P. Jones for $700
June 6 Cash Purchases $300
June 8 purchased goods on Credit for Smith & Co. for $1,600
June 9 Paid Smith & Co. $7,000 by cheque
June 11 Paid wages $960 by cheque
June 12 Paid wages by cash $80
June 15 Sold goods on Credit to S. Roche for $1,600
June 17 S. Roche returned goods, $700
June 19 P. Jones paid $90 and was allowed $6 discount to clear his account
June 22 Paid light and heat by cheque $400
June 23 Purchased delivery van by cheque $8,000
June 25 S. Roche cleared his account and was allowed 5% discount
June 27 Paid wages by cheque $820
June 28 Cash sales $1,000
June 29 Drawings by cheque $450
June 30 Paid wages by cheque $820.
Required: Record these transactions in AccountingEquations.
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