Robinstar and Holdsmore Ltd. Started a wholesale business on December 1, 2021 and commenced operations immediately. The following transactions took place in their first month of operations: Extract a trial balance as at December 31, 2021 for Robinstar and Holdsmore Ltd. 2021December145631Started Business with capital of $12,000 in cash.Sold goods on credit to: S.Braeton $3,500Bought goods on credit from the D.James $2,600Paid Rent by cash $1,500.The owner of the business took $600 in cash for his personal use.

The journal entries are the first step of accounting to record the transactions of business. The…

2021 December 1 4 5 6 31 Started Business with capital of $12,000 in cash. Sold goods on credit to: S.Braeton $3,500 Bought goods on credit from the D.James $2,600 Paid Rent by cash $1,500. The owner of the business took $600 in cash for his personal use.

2021 December 1 4 5 6 31 Started Business with capital of $12,000 in cash. Sold goods on credit to: S.Braeton $3,500 Bought goods on credit from the D.James $2,600 Paid Rent by cash $1,500. The owner of the business took $600 in cash for his personal use.

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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am. 251.
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