Matthew setup a new business and in the first nine days of trading the following transactions occurred 1st January.... Matthew introduces $15,000 capital in business via cash 2nd January.... Matthew buys supplies (purchases) worth $1200 via cash 3rd January..... Matthew buys a car for business $2,000 and pays by cash 4th January..... Matthew buys $1,000 of purchases on credit from suppliers 5th January..... Matthew sells goods for $1,500 for cash. 6th January..... Matthew sells all his remaining goods for $3500 on credit. 7th January..... Matthew pays $500 to his supplier by cash. 8th January..... Matthew has not yet paid rent of $800. 9th January..... Matthew draws $2000 for living expenses. Required Write journal entries & complete relevant ledger accounts & extract a trial balance Prepare income statement for the first nine days and balance sheet as at 9th January
Matthew setup a new business and in the first nine days of trading the following transactions occurred
1st January.... Matthew introduces $15,000 capital in business via cash
2nd January.... Matthew buys supplies (purchases) worth $1200 via cash
3rd January..... Matthew buys a car for business $2,000 and pays by cash
4th January..... Matthew buys $1,000 of purchases on credit from suppliers
5th January..... Matthew sells goods for $1,500 for cash.
6th January..... Matthew sells all his remaining goods for $3500 on credit.
7th January..... Matthew pays $500 to his supplier by cash.
8th January..... Matthew has not yet paid rent of $800.
9th January..... Matthew draws $2000 for living expenses.
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Prepare income statement for the first nine days and balance sheet as at 9th January
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