iii) 曲 Q4. the wrong amount has been entered on the other side of the account. Where the correct amount has been entered on one side of the ledger bu Nii Aboloo started business with Ghc 3,500 cash at bank and office equipment worth Ghc 1,600. The following transactions took place during the month of January 2008. Jan 1st 2nd 4th 6th 8th 10th 12th 15th 20th - 22nd 25th 28th 31st Bought Motor cycle on credit from Samsam Ghc 900 Bought goods on credit from Lopez Ghc 3,800 Returned goods worth Ghc 200 to Lopez Sold goods on credit to Nkum Ghc 2,800 Paid Lopez cheque of Ghc 3,500 in full settlement of the debt Nkum returned goods worth Ghc 150 and paid cash of Gh c 2,600 in full settlement of his debt Paid wages & Salaries by cash Ghc 200. Cash Sales Ghc 1,800 Aboloo withdrew Ghc 100 worth of goods for personal use. withdrew Ghc 500 cash from bank for office use Bought goods and paid cash Ghc 600 Paid Ghc 500 cash to Samsam for the motor cycle naid Ghe 150.000
iii) 曲 Q4. the wrong amount has been entered on the other side of the account. Where the correct amount has been entered on one side of the ledger bu Nii Aboloo started business with Ghc 3,500 cash at bank and office equipment worth Ghc 1,600. The following transactions took place during the month of January 2008. Jan 1st 2nd 4th 6th 8th 10th 12th 15th 20th - 22nd 25th 28th 31st Bought Motor cycle on credit from Samsam Ghc 900 Bought goods on credit from Lopez Ghc 3,800 Returned goods worth Ghc 200 to Lopez Sold goods on credit to Nkum Ghc 2,800 Paid Lopez cheque of Ghc 3,500 in full settlement of the debt Nkum returned goods worth Ghc 150 and paid cash of Gh c 2,600 in full settlement of his debt Paid wages & Salaries by cash Ghc 200. Cash Sales Ghc 1,800 Aboloo withdrew Ghc 100 worth of goods for personal use. withdrew Ghc 500 cash from bank for office use Bought goods and paid cash Ghc 600 Paid Ghc 500 cash to Samsam for the motor cycle naid Ghe 150.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
nsnsbebh
Transcribed Image Text:iii)
曲
Q4.
the wrong amount has been entered on the other side of the account.
Where the correct amount has been entered on one side of the ledger bu
Nii Aboloo started business with Ghc 3,500 cash at bank and office equipment
worth Ghc 1,600. The following transactions took place during the month of January
2008.
Jan
1st
2nd
4th
6th
8th
10th
12th
15th
20th
-
22nd
25th
28th
31st
Bought Motor cycle on credit from Samsam Ghc 900
Bought goods on credit from Lopez Ghc 3,800
Returned goods worth Ghc 200 to Lopez
Sold goods on credit to Nkum Ghc 2,800
Paid Lopez cheque of Ghc 3,500 in full settlement of the debt
Nkum returned goods worth Ghc 150 and paid cash of Gh c 2,600 in full
settlement of his debt
Paid wages & Salaries by cash Ghc 200.
Cash Sales Ghc 1,800
Aboloo withdrew Ghc 100 worth of goods for personal use.
withdrew Ghc 500 cash from bank for office use
Bought goods and paid cash Ghc 600
Paid Ghc 500 cash to Samsam for the motor cycle
naid Ghe 150.000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education