Record the following transactions for the month of January of Thomas Cook, a small finishing retailer, balance off all the accounts, and then extract a Income statement as at January 31, 2022: 2022 Jan 1 Started business with $10,500 cash. Jan 2 Put $9,000 of the cash into a bank account. Jan 3 Bought goods for cash $550. Jan 4 Bought goods on credit from: T. Dry $800; F. Hood $930; M. Smith $160; G. Low $510. Jan 5 Bought stationery on credit from Buttons Ltd $89. Jan 6 Sold goods on credit to: R. Tong $170; L. Fish $240; M. Singh $326; A. Tom $204. Jan 8 Paid rent by cheque $220. Jan 10 Bought fixtures on credit from Chiefs Ltd $610. Jan 11 Paid salaries in cash $790. Jan 14 Returned goods to: F. Hood $30; M. Smith $42. Jan 15 Bought van by cheque $6,500. Jan 16 Received loan from B Barclay by cheque $2,000. Jan 18 Goods returned to us by: R. Tong $5; M. Singh $20. Jan 21 Cash sales $145. Jan 24 Sold goods on credit to: L. Fish $130; A. Tom $410; R. Pleat $158. Jan 26 We paid the following by cheque: F. Hood $900; M. Smith $118. Jan 29 Received cheques from: R. Pleat $158; L. Fish $370. Jan 30 Received a further loan from B. Barclay by cash $500. Jan 30 Received $614 cash from A. Tom. Jan 31 Paid travelling expenses by cash $19. Jan 31 Paid sundry expenses by cheque $90
Record the following transactions for the month of January of Thomas Cook, a small finishing retailer,
balance off all the accounts, and then extract a Income statement as at January 31, 2022:
2022
Jan 1 Started business with $10,500 cash.
Jan 2 Put $9,000 of the cash into a bank account.
Jan 3 Bought goods for cash $550.
Jan 4 Bought goods on credit from: T. Dry $800; F. Hood $930; M. Smith $160; G. Low $510.
Jan 5 Bought stationery on credit from Buttons Ltd $89.
Jan 6 Sold goods on credit to: R. Tong $170; L. Fish $240; M. Singh $326; A. Tom $204.
Jan 8 Paid rent by cheque $220.
Jan 10 Bought fixtures on credit from Chiefs Ltd $610.
Jan 11 Paid salaries in cash $790.
Jan 14 Returned goods to: F. Hood $30; M. Smith $42.
Jan 15 Bought van by cheque $6,500.
Jan 16 Received loan from B Barclay by cheque $2,000.
Jan 18 Goods returned to us by: R. Tong $5; M. Singh $20.
Jan 21 Cash sales $145.
Jan 24 Sold goods on credit to: L. Fish $130; A. Tom $410; R. Pleat $158.
Jan 26 We paid the following by cheque: F. Hood $900; M. Smith $118.
Jan 29 Received cheques from: R. Pleat $158; L. Fish $370.
Jan 30 Received a further loan from B. Barclay by cash $500.
Jan 30 Received $614 cash from A. Tom.
Jan 31 Paid travelling expenses by cash $19.
Jan 31 Paid sundry expenses by cheque $90.
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