Purchased R62 000 worth of trading inventory on credit. Day Transaction details 1 3 Paid for maintenance and repairs, R23 000 cash. 5 8 10 12 15 18 19 Paid R3 500 to transport inventory from the supplier. Paid with cash. Sold goods with a selling price of R48 000 for cash. The trading stock originally cost R26 500. Purchased a new printer for the office, the R3 200 owing was put on the company's account. Purchased soft drinks for refreshment after a staff meeting. Paid R320 from the petty cash box. Received R11 600 from Daniel, a debtor. Paid Komson suppliers, a creditor R55 000 of the balance owing. The owner withdrew R2 500 cash from the business for personal use.
Purchased R62 000 worth of trading inventory on credit. Day Transaction details 1 3 Paid for maintenance and repairs, R23 000 cash. 5 8 10 12 15 18 19 Paid R3 500 to transport inventory from the supplier. Paid with cash. Sold goods with a selling price of R48 000 for cash. The trading stock originally cost R26 500. Purchased a new printer for the office, the R3 200 owing was put on the company's account. Purchased soft drinks for refreshment after a staff meeting. Paid R320 from the petty cash box. Received R11 600 from Daniel, a debtor. Paid Komson suppliers, a creditor R55 000 of the balance owing. The owner withdrew R2 500 cash from the business for personal use.
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 17Q: A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300....
Related questions
Question
Analyse the effect of the following transactions that took place in the books of Johnson’s
Ltd in June 2023 on the
Example:
The owner withdrew R1000 from the business bank account to buy a necklace for his
son on his birthday.
Transaction day
Account
debited
Assets =
Owner’s equity
Example
Account
credited
Drawings Bank -R1000
+
Liabilities -R1000
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College