Mr. John started a T-shirts business to be known as "John T-shirts". He has provided you with the following information from his first month of operations: N$ Bank- overdraft 15 000 Prepaid rent expense 20 000 Accounts receivables 35 000 Capital 250 000 550 000 Buildings & equipment at cost Insurance 5 000 Prepaid income 55 000 Accounts payables 50 000 Sales 100 000 Accrual water & electricity 20 000 Long - term loan (FNB) 105 000 Long term investment 110 000 Mortgage (bank Windhoek) 135 000 Interest on loan 15 000 Discount received 10 000 Discount allowed 5 000

Mr. John started a T-shirts business to be known as "John T-shirts". He has provided you with the following information from his first month of operations: N$ Bank- overdraft 15 000 Prepaid rent expense 20 000 Accounts receivables 35 000 Capital 250 000 550 000 Buildings & equipment at cost Insurance 5 000 Prepaid income 55 000 Accounts payables 50 000 Sales 100 000 Accrual water & electricity 20 000 Long - term loan (FNB) 105 000 Long term investment 110 000 Mortgage (bank Windhoek) 135 000 Interest on loan 15 000 Discount received 10 000 Discount allowed 5 000

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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PaAICulurs April I ZUCK Started busi ness WHh and a cush Rm 20000 KM 40,000 in bank. 4 He bought secunahand renicle for RM 25,060 on (redit 12 He puid rent km 3000 in Cheque 15 Purchase goods Credif RM 700 from sam on 18 Sold gord cedit to Alya (Rm500) in fuy Paid utilHty bil Bought 20 RM 250 In Cash 22 cumputer (RM 4000) I puy km 2o00 in Cush und Rm d000 on credit 25 Setfle Sum money km 2500 29 Pay ralary Cheque in Requirement ) Journal am an d Khas Ledijer 1) Inai balanie
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