The following are transactions entered into by John Luke a sole trader in the month...
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Accounting
The following are transactions entered into by John Luke a sole trader in the month of January.
Date Transaction
02/17 Invested capital of P50000 into the business.
03/17 Bought inventory on credit worth P15000.
05/17 Withdrew P2500 cash for personal use.
06/17 Paid wages of P2000 to his employees.
08/17 Accrued advertising expenses of P1000.
09/17 Cleared P10000 of the inventory that was purchased on 03/17
20/17 Paid rent expense for P3000 cash.
25/17 Purchased a computer for P8000 cash. Required: Prepare a worksheet of John Luke transactions indicating the accounting equation.
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