Record all transactions in appropriate T-accounts (costs by nature), close all accounts and  prepare an Income Statement. a) The company recorded an invoice for rubbish disposal in the current month; value 400. b) The company recorded bank fees; value 50. c) The company sold goods worth 2 000 for 3 500 on deferred payment. d) Goods were delivered to a customer – transport cost 500 and additional insurance cost of  200, both paid by bank money transfer..

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Record all transactions in appropriate T-accounts (costs by nature), close all accounts and 
prepare an Income Statement.
a) The company recorded an invoice for rubbish disposal in the current month; value 400.
b) The company recorded bank fees; value 50.
c) The company sold goods worth 2 000 for 3 500 on deferred payment.
d) Goods were delivered to a customer – transport cost 500 and additional insurance cost of 
200, both paid by bank money transfer..

 

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