the following are the transaction of unza limited for the month of june 2018 june 1 introduced...

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Accounting

the following are the transaction of unza limited for the monthof june 2018

june 1 introduced capital of k 95,000 into the bank

june 2 purchased goods on credit from smith and co for k8000

june 3 cash sales k320

june 5 sold goods on credit to p jones for k 700

june 6 cash purchases k300

june 8 purchased goods on credit from smith and co. for k1600

june 9 paid smith and co. k 7000 by cheque

june 11 paid wages k 960 by cheque

june 12 paid wages by cash k80

june 15 sold goods on credit to s.roche for k 1600

june 17 s. roche returned goods , k700

june 19 p.jones paid k 90 and was allowed k 6 % discount

june 22 paid ligh and heat by cheque k 400

june 23 purchsed delivery van by cheque k 8000

june 25 s.roche cleared his account and was allowed 5 %discount

june 27 paid wages by cheque by cheque k 820

june 28 cash sales k 1000

june 29 drawings by cheque k 450

june 30 paid wages by cheque k 820

1) complete the double entries for each transaction clearlyindicating a debit and credit entires

2) post the entries to the ledger or T accounts and balance theaccounts

3) complete the trial balance

4) prepare the income statement

5) prepare the balance sheet

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Transcribed Image Text

the following are the transaction of unza limited for the monthof june 2018june 1 introduced capital of k 95,000 into the bankjune 2 purchased goods on credit from smith and co for k8000june 3 cash sales k320june 5 sold goods on credit to p jones for k 700june 6 cash purchases k300june 8 purchased goods on credit from smith and co. for k1600june 9 paid smith and co. k 7000 by chequejune 11 paid wages k 960 by chequejune 12 paid wages by cash k80june 15 sold goods on credit to s.roche for k 1600june 17 s. roche returned goods , k700june 19 p.jones paid k 90 and was allowed k 6 % discountjune 22 paid ligh and heat by cheque k 400june 23 purchsed delivery van by cheque k 8000june 25 s.roche cleared his account and was allowed 5 %discountjune 27 paid wages by cheque by cheque k 820june 28 cash sales k 1000june 29 drawings by cheque k 450june 30 paid wages by cheque k 8201) complete the double entries for each transaction clearlyindicating a debit and credit entires2) post the entries to the ledger or T accounts and balance theaccounts3) complete the trial balance4) prepare the income statement5) prepare the balance sheet

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