Matthew setup a new business and in the first nine days of trading the following transactions occurred 1st January.... Matthew introduces $15,000 capital in business via cash 2nd January.... Matthew buys supplies (purchases) worth $1200 via cash 3rd January..... Matthew buys a car for business $2,000 and pays by cash 4th January..... Matthew buys $1,000 of purchases on credit from suppliers 5th January..... Matthew sells goods for $1,500 for cash. 6th January..... Matthew sells all his remaining goods for $3500 on credit. 7th January..... Matthew pays $500 to his supplier by cash. 8th January..... Matthew has not yet paid rent of $800. 9th January..... Matthew draws $2000 for living expenses. Required Write journal entries & complete relevant ledger accounts & extract a trial balance Prepare income statement for the first nine days and balance sheet as at 9th January

Haresh

Question (I got $44,000... correct?): Riley Company began operations on August 1, 2026 and entered into the following transactions during 2026: 1. On August 1, Riley Company sold common stock to owners in the amount of $60,000 and borrowed $48,000 from a local bank on a 10-month, 10% note payable. 2. On August 14, Riley Company purchased inventory for $42,000 cash. 3. On September 1, Riley Company purchased a 3-year insurance policy for $27,000 cash. 4. On September 19, Riley Company purchased land for $30,000 cash. 5. On October 28, Riley Company sold two-thirds of the inventory that was purchased on August 14 to a customer for $62,000 cash. 6. On December 3, Riley Company sold the land that was purchased on September 19 for $19,000 cash. 7. On December 31, Riley recorded all necessary adjusting entries. Calculate the amount of total expenses reported in Riley Company's 2026 income statement after all of the above transactions have been recorded and posted.

Pasadenas starts a business on the 1 June 20x8, introducing the following assets:                        cash     £5,000                                     van       £1,000 Pasadenas’s godfather agrees to lend the business £7,200 at an annual interest rate of 5% per annum. The business makes the following cash payments:                                     goods for resale                        £6,000 rent for 6 months                      £1,500 In the first month of trade the business makes sales of £5,000 operating on a mark-up on cost of 25%. The inventory/stock held at the end of the first month’s trade was valued at £2,000. [Note: not all information provided above is required to answer this question correctly] Pasadenas’s capital account at the end of the first month’s trade is:     Answers: a.  £6,000   b.  £13,000   c.  £720   d.  £6,720