July 1 Started business with £10,000 in the bank. 2 T Cooper lent us £400 in cash. 3 Bought goods on credit from F Jones £840 and S Charles £3,600. 4 Sold goods for cash £200. 6 Took £250 of the cash and paid it into the bank. 8 Sold goods on credit to C Moody £180. 10 Sold goods on credit to J Newman £220. 11 Bought goods on credit from F Jones £370. 12 C Moody returned goods to us £40. 14 Sold goods on credit to H Morgan £190 and J Peat £320. 15 We returned goods to F Jones £140. 17 Bought motor van on credit from Manchester Motors £2,600. 18 Bought office furniture on credit from Faster Supplies Ltd £600.

July 1 Started business with £10,000 in the bank. 2 T Cooper lent us £400 in cash. 3 Bought goods on credit from F Jones £840 and S Charles £3,600. 4 Sold goods for cash £200. 6 Took £250 of the cash and paid it into the bank. 8 Sold goods on credit to C Moody £180. 10 Sold goods on credit to J Newman £220. 11 Bought goods on credit from F Jones £370. 12 C Moody returned goods to us £40. 14 Sold goods on credit to H Morgan £190 and J Peat £320. 15 We returned goods to F Jones £140. 17 Bought motor van on credit from Manchester Motors £2,600. 18 Bought office furniture on credit from Faster Supplies Ltd £600.

Name: Post all the journal entries. luly 1 Started business with £10,000 in
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Description: Post all the journal entries. luly 1 Started business with £10,000 in the bank.2 T Cooper lent us £400 in cash.3 Bought goods on credit from F Jones £840 and S Charles £3,600.4 Sold goods for cash £200.6 Took £250 of the cash and paid it into the ban

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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a. July 1 Started in business with £20,000 in the bank. 2 RHughes lent us £5,000 in cash. 3 Bought goods on credit from B Brown £1,530 and I Jess£4,162. 3 Sold goods for cash £1,910. 6 Took £200 of the cash and paid it into the bank. 6 Sold goods on credit to H Rise £1,374. 8 Sold goods on credit to P Taylor £341. 9 Bought goods on credit from B Brown £488. 10 H Rise returned goods to us £65. Enter the following transactions in the accounts of L Linda: 20X7 Discount received 14,080 Wages and salaries 622,000 Rates 49,000 Insurance 35,600 General expenses 81,200 Trade debtors 368,000 Trade creditors 322,400 Bank overdraft 80,400 Stock in trade, 1 January 2008 122,000 Land and buildings at cost 1,700,000 11 Sold goods on credit to G Pate £535 and R Sim £262. Plant and machinery at cost 1,230,000 12 We returned goods to B Brown £94 13 Bougbt van on credit from Aberdeen Cars Ltd £4,370. 18 Bought office furniture on credit from J Winter Ltd £1,800. 19 We returned goods to I Jess £130. 20…
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Enter the following transactions in the accounts of L Linda: 20X7July == == == == == == == == == == == == == == == == == == == == == 1 Started in business with £20,000 in the bank.2 R Hughes lent us £5,000 in cash.3 Bought goods on credit from B Brown £1,530 and I Jess £4,162.4 Sold goods for cash £1,910.6 Took £200 of the cash and paid it into the bank.8 Sold goods on credit to H Rise £1,374.10 Sold goods on credit to P Taylor £341.11 Bought goods on credit from B Brown £488.12 H Rise returned goods to us £65.14 Sold goods on credit to G Pate £535 and R Sim £262.15 We returned goods to B Brown £94.17 Bought van on credit from Aberdeen Cars Ltd £4,370.18 Bought office furniture on credit from J Winter Ltd £1,800.19 We returned goods to I Jess £130.20 Bought goods for cash £390.24 Goods sold for cash £110.25 Paid money owing to B Brown by cheque £1,924.26 Goods returned to us by G Pate £34.27 Returned some of office furniture costing £180 to J Winter Ltd.28 L Linda put a further…