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May 1 Started in business with £18,000 in the bank. may 2 Bought goods on credit from B Hind £1,455. may 3 Bought goods on credit from G Smart £472. may 5 Sold goods for cash £210. may 6 We returned goods to B Hind £82. may 8 Bought goods on credit from G Smart £370. may 10 Sold goods on credit to P Syme £483. may  12 Sold goods for cash £305. == 18 Took £250 of the cash and paid it into the bank. == 21 Bought a printer by cheque £620. == 22 Sold goods on credit to H Buchan £394. == 23 P Syme returned goods to us £160. == 25 H Buchan returned goods to us £18. == 28 We returned goods to G Smart £47. == 29 We paid Hind by cheque £1,373. == 31 Bought machinery on credit from A Cobb £419

May 1 Started in business with £18,000 in the bank. may 2 Bought goods on credit from B Hind £1,455. may 3 Bought goods on credit from G Smart £472. may 5 Sold goods for cash £210. may 6 We returned goods to B Hind £82. may 8 Bought goods on credit from G Smart £370. may 10 Sold goods on credit to P Syme £483. may  12 Sold goods for cash £305. == 18 Took £250 of the cash and paid it into the bank. == 21 Bought a printer by cheque £620. == 22 Sold goods on credit to H Buchan £394. == 23 P Syme returned goods to us £160. == 25 H Buchan returned goods to us £18. == 28 We returned goods to G Smart £47. == 29 We paid Hind by cheque £1,373. == 31 Bought machinery on credit from A Cobb £419

FINANCIAL ACCOUNTING
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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May 1 Started in business with £18,000 in the bank.

may 2 Bought goods on credit from B Hind £1,455.

may 3 Bought goods on credit from G Smart £472.

may 5 Sold goods for cash £210.

may 6 We returned goods to B Hind £82.

may 8 Bought goods on credit from G Smart £370.

may 10 Sold goods on credit to P Syme £483.

may  12 Sold goods for cash £305.

== 18 Took £250 of the cash and paid it into the bank.

== 21 Bought a printer by cheque £620.

== 22 Sold goods on credit to H Buchan £394.

== 23 P Syme returned goods to us £160.

== 25 H Buchan returned goods to us £18.

== 28 We returned goods to G Smart £47.

== 29 We paid Hind by cheque £1,373.

== 31 Bought machinery on credit from A Cobb £419.

Enter the following transactions in the accounts: 20X9 May 1 Started in business with £18,000 in the bank. ==2 Bought goods on credit from B Hind £1,455. == 3 Bought goods on credit from G Smart £472. == 5 Sold goods for cash £210. == 6 We returned goods to B Hind £82. == 8 Bought goods on credit from G Smart £370. == 10 Sold goods on credit to P Syme £483. == 12 Sold goods for cash £305. == 18 Took £250 of the cash and paid it into the bank. == 21 Bought a printer by cheque £620. == 22 Sold goods on credit to H Buchan £394. == 23 P Syme returned goods to us £160. == 25 H Buchan returned goods to us £18. == 28 We returned goods to G Smart £47. == 29 We paid Hind by cheque £1,373. == 31 Bought machinery on credit from A Cobb £419.
Transcribed Image Text:Enter the following transactions in the accounts: 20X9 May 1 Started in business with £18,000 in the bank. ==2 Bought goods on credit from B Hind £1,455. == 3 Bought goods on credit from G Smart £472. == 5 Sold goods for cash £210. == 6 We returned goods to B Hind £82. == 8 Bought goods on credit from G Smart £370. == 10 Sold goods on credit to P Syme £483. == 12 Sold goods for cash £305. == 18 Took £250 of the cash and paid it into the bank. == 21 Bought a printer by cheque £620. == 22 Sold goods on credit to H Buchan £394. == 23 P Syme returned goods to us £160. == 25 H Buchan returned goods to us £18. == 28 We returned goods to G Smart £47. == 29 We paid Hind by cheque £1,373. == 31 Bought machinery on credit from A Cobb £419.
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