Indicate in which journals the following transactions will be recorded in the books of Green Fingers Garden Services. Transaction Journal Mr. Potty Plant deposited money as capital contribution into the business bank account. Buy a building to do business from for cash. 3 Buy equipment cash to render garden services. 4 Receive money from clients for rendering services. 5. Pay weekly wages to his employees. Mr. Potty Plant rented part of the building to his sister to start a catering business. Receive her first month rental. 6. Deposit cash and cheques into the business current account. The bank levied bank charges. 7. 8. 6. A stop order for insurance. Mr. Potty Plant takes money for personal use.

Indicate in which journals the following transactions will be recorded in the books of Green Fingers Garden Services. Transaction Journal Mr. Potty Plant deposited money as capital contribution into the business bank account. Buy a building to do business from for cash. 3 Buy equipment cash to render garden services. 4 Receive money from clients for rendering services. 5. Pay weekly wages to his employees. Mr. Potty Plant rented part of the building to his sister to start a catering business. Receive her first month rental. 6. Deposit cash and cheques into the business current account. The bank levied bank charges. 7. 8. 6. A stop order for insurance. Mr. Potty Plant takes money for personal use.

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Description: Indicate in which journals the following transactions will be recorded in the books ofGreen Fingers Garden Services.TransactionJournalMr. Potty Plant deposited money as capitalcontribution into the business bank account.Buy a building to do business

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

Indicate in which journals the following transactions will be recorded in the books of
Green Fingers Garden Services.
Transaction
Journal
Mr. Potty Plant deposited money as capital
contribution into the business bank account.
Buy a building to do business from for cash.
3
Buy equipment cash to render garden services.
4
Receive
money
from
clients
for rendering
services.
5.
Pay weekly wages to his employees.
Mr. Potty Plant rented part of the building to his
sister to start a catering business. Receive her
first month rental.
6.
Deposit cash and cheques into the business
current account.
The bank levied bank charges.
7.
8.
6.
A stop order for insurance.
Mr. Potty Plant takes money for personal use.

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REQUIREMENT: JOURNAL ENTRIES
What is the journal entry?