FAGE NO.:WAMBWIRE Starts businessOn 1" july 2021, when hepaysh 180,00 into the business account · During theof july, he undertakes the Güllwing transeitim.2021July 3 sh 25,000 ond pays cashHe purchases shop titlings forJuly 4 He buys a motor vehicle from AB Co on credit sh 30,000He buys stock for sh i5,000He sells goods for cash sh 10, OUDBuys goodsSells gouls to A smith forPays wages Sh 1300Pays AB $CO. sh 30,000andCash.paysJuly 6Suly 8July 10| July 12July 13July I5July 21July 25Suly 30July 31on Credit from XY $Co for sh 12,000sh Gooo on creditReceives from' A Smith a choque for sh q,000Sells goods for Cash 3000Pays general expenses sh 800Draws sh so out of business forThispercomaluse ·REQUIRED.a Journalize the above transg tons.b Use T acounts to enter : the dbove transactions into Ledger.c Clase the accounts and determine the respective balancesdi Ex tract a trial balance at 3 1st july 202 1-

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AMBWIRE Star'13 sh 180,00 into the business account. During the onth of july, he undestakes The füllowing transet Ty 3 He purchases shep itings for ond pays sh 25,000 ly 4 He buys a mstor vehicle from ABd co on credit sh Dous Cash.

AMBWIRE Star'13 sh 180,00 into the business account. During the onth of july, he undestakes The füllowing transet Ty 3 He purchases shep itings for ond pays sh 25,000 ly 4 He buys a mstor vehicle from ABd co on credit sh Dous Cash.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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