Enter the following transactions, completing the double entry in the books for the month of May 20X7. May 1 Started in business with £10,000 in the bank. 2 Purchased goods £290 on credit from D James. == == 3 Bought fixtures and fittings £1,150 paying by cheque. 5 Sold goods for cash £140. == 6 Bought goods on credit £325 from C Monty. == 10 Paid rent by cash £200. == 12 Bough: stationery £45, paying in cash. == 18 Goods returned to D James £41. == 21 Received rent of £25 by cheque for sublet of corner space. == 23 Sold goods on credit to G Cross for £845. == 24 Bought a van paying by cheque £4,100. == 30 Paid the month's wages by cash £360. == 31 The proprietor took cash for his own personal use £80.

Enter the following transactions, completing the double entry in the books for the month of May 20X7. May 1 Started in business with £10,000 in the bank. 2 Purchased goods £290 on credit from D James. == == 3 Bought fixtures and fittings £1,150 paying by cheque. 5 Sold goods for cash £140. == 6 Bought goods on credit £325 from C Monty. == 10 Paid rent by cash £200. == 12 Bough: stationery £45, paying in cash. == 18 Goods returned to D James £41. == 21 Received rent of £25 by cheque for sublet of corner space. == 23 Sold goods on credit to G Cross for £845. == 24 Bought a van paying by cheque £4,100. == 30 Paid the month's wages by cash £360. == 31 The proprietor took cash for his own personal use £80.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....

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