FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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C12 Please help me answer this one. Use tables in answering. Type only the answers, do not handwritten. Provide the necessary informations needed. Fill out or occupy the tables that needs to be answered. Thank you
7. Joshua Owen commenced business on 1 September, and had several special transactions
during the month:
Date
Transaction
Sept 01 Owen contributed the following to the business: Premises $85,000, Cash $4,000,
Mortgage on Premises $30,000, and shop fittings $3,000.
09 Owen gave the business a Motor Vehicle valued at $5,000 to be used for
delivering goods to customers.
11 Stock costing $80 plus $8 GST was taken by Owen's Children.
14 Surplus shelving, valued at $50 plus $5 GST, was taken by Owen for storing tools
in his home garage.
Required: General Journal entries to record these transactions.
General Journal of Joshua Owen
GJ1
Date
Particulars
Folio
Debit
Credit
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Transcribed Image Text:7. Joshua Owen commenced business on 1 September, and had several special transactions during the month: Date Transaction Sept 01 Owen contributed the following to the business: Premises $85,000, Cash $4,000, Mortgage on Premises $30,000, and shop fittings $3,000. 09 Owen gave the business a Motor Vehicle valued at $5,000 to be used for delivering goods to customers. 11 Stock costing $80 plus $8 GST was taken by Owen's Children. 14 Surplus shelving, valued at $50 plus $5 GST, was taken by Owen for storing tools in his home garage. Required: General Journal entries to record these transactions. General Journal of Joshua Owen GJ1 Date Particulars Folio Debit Credit
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