Question 2. Prepare a transaction analysis chart Yellow Cabs Taxi owner, Mathew Jones started his taxi business on 1 May 2020 by depositing K 140 000into the business bank account. The rest of the transactions for the month of May are as follows:Date2020May 234671012TransactionPurchased a car for his taxi business for K20 000 with cash.Paid K400 cash for registration and insurance for the car.Paid K100 for fuel.Received taxi fare income in cash, for an amount of K300.Purchased another car for K22 000 with cash.Paid for registration and insurance for the additional car with K400 cash.Paid for fuel with K200 cash.Taxi fare income received in cash K800. 1318192022242627282931Taxi services provided on credit to City Pharmacy Ltd, for K1800.Received cash from City Pharmacy Ltd, for an amount of K 1 200.Paid wages K 2 400.Taxi services provided on credit to City Pharmacy Ltd K2 600.Cash received from City Pharmacy Ltd K2 000.Purchased fuel on credit from Islander Service Station for K250.Taxi fare income received in cash for K 1 800.Purchased a car for K25 000 paying cash.Paid K400 cash for registration and insurance for the new car .Paid K200 to Islander Service Station.Paid wages K2 500.Taxi service expenses paid in cash, K2 500.Purchased another car for K24 000 from Boroko Motors and paid K10 000 asdeposit. The balance of K14 000 will be paid later.Taxi fare income received K2 000.Additional capital contributed in cash K30 000.

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Description: Question 2. Prepare a transaction analysis chart Yellow Cabs Taxi owner, Mathew Jones started his taxi business on 1 May 2020 by depositing K 140 000into the business bank account. The rest of the transactions for the month of May are as follows:Date

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Business

Accounting

Question 2. Prepare a transaction analysis chart

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 4.1AP

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