Scenario: You are presented with the following transactions for 2021 from the books of a business. This company operates one bank account to reflect all cash and cheque transactions. You are now required to read these transactions carefully then prepare the relevant đocuments and books as outlined in the requirements below. 11 Aug Provided services on credit to Auto Care. 24 small motorbike engines $350.00 per engine 8 large motor bike engines (partial service) $650.00 per engine 12 medium size motorbike engine (partial service)_ $550.00 per engine 1 Aug Started business with $150, 000 in the bank 12 Aug Bought Fixtures on credit from CT Ltd $8,000.00 3 Aug Bought supplies on credit from Right Way Manufacturers 13 Aug Received a loan from NBC cash $25,000.00 24 Boxes Air Filter $720.00 per box 14 Aug Provided services on credit to P&S Auto 96 Bottles fuel injector cleaner $200.00 per bottle 18 Large motorbike engines (full service) $950.00 per engine 48 Boxes Spark Plug $300.00 per box 12 medium size motor bike engines $650.00 per engine 36 Boxes Brake Shoe $580.00 per box 24 medium size motorbike engines $550.00 per engine 24 Boxes Disc Pads $400.00 per box 20 small motorbike engines $350.00 per engine 5 Aug Provided services for cash less 10% discount 21 Aug Paid CT Ltd by cheque $8,000.00 12 small motorbike engines $350.00 per engine 22 Aug Paid wages cash $8,000.00 6 large motorbike engines (full service) $950.00 per engine 23 Aug Paid Right Way Manufacturer the amount owing to them 8 medium size motorbike engines (full service) $800.00 per engine by cheque, they allowed us a 15% discount 7 Aug Paid Rent by cheque $5,000.00 27 Aug P&S Auto paid the amount owing by them in 10 Aug Paid Wages by cheque $8,000.00 Cash less 10 % discount 10 Aug Bought Fixtures from CT Limited $3,500.00 27 Aug Electricity paid by cash $1,500.00 paying by cash 28 Aug The owner took $5000 out of the bank for his personal use
Scenario: You are presented with the following transactions for 2021 from the books of a business. This company operates one bank account to reflect all cash and cheque transactions. You are now required to read these transactions carefully then prepare the relevant đocuments and books as outlined in the requirements below. 11 Aug Provided services on credit to Auto Care. 24 small motorbike engines $350.00 per engine 8 large motor bike engines (partial service) $650.00 per engine 12 medium size motorbike engine (partial service)_ $550.00 per engine 1 Aug Started business with $150, 000 in the bank 12 Aug Bought Fixtures on credit from CT Ltd $8,000.00 3 Aug Bought supplies on credit from Right Way Manufacturers 13 Aug Received a loan from NBC cash $25,000.00 24 Boxes Air Filter $720.00 per box 14 Aug Provided services on credit to P&S Auto 96 Bottles fuel injector cleaner $200.00 per bottle 18 Large motorbike engines (full service) $950.00 per engine 48 Boxes Spark Plug $300.00 per box 12 medium size motor bike engines $650.00 per engine 36 Boxes Brake Shoe $580.00 per box 24 medium size motorbike engines $550.00 per engine 24 Boxes Disc Pads $400.00 per box 20 small motorbike engines $350.00 per engine 5 Aug Provided services for cash less 10% discount 21 Aug Paid CT Ltd by cheque $8,000.00 12 small motorbike engines $350.00 per engine 22 Aug Paid wages cash $8,000.00 6 large motorbike engines (full service) $950.00 per engine 23 Aug Paid Right Way Manufacturer the amount owing to them 8 medium size motorbike engines (full service) $800.00 per engine by cheque, they allowed us a 15% discount 7 Aug Paid Rent by cheque $5,000.00 27 Aug P&S Auto paid the amount owing by them in 10 Aug Paid Wages by cheque $8,000.00 Cash less 10 % discount 10 Aug Bought Fixtures from CT Limited $3,500.00 27 Aug Electricity paid by cash $1,500.00 paying by cash 28 Aug The owner took $5000 out of the bank for his personal use
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
How would the attached transactions (see pictures) be recorded in the general journal using only the following account names:
Capital
Cash
Supplies
Right Way Manufacturers
J Manufacturers
P&S Auto
CT Ltd
Service Revenue
Discount Allowed
Rent Expense
Wages Expense
Supplies Expense
Fixtures
Auto Care
Loan NBC
Discount Received
Electricity Expense
Drawings

Transcribed Image Text:Scenario:
You are presented with the following transactions for 2021 from the books of a business. This
company operates one bank account to reflect all cash and cheque transactions. You are
now required to read these transactions carefully then prepare the relevant documents and books
as outlined in the requirements below.
11 Aug
Provided services on credit to Auto Care.
24 small motorbike engines
$350.00 per engine
8 large motor bike engines (partial service)
$650.00 per engine
12 medium size motorbike engine (partial service) $550.00 per engine
1 Aug
Started business with $150, 000 in the bank
|
12 Aug
Bought Fixtures on credit from CT Ltd
$8,000.00
3 Aug
Bought supplies on credit from Right Way Manufacturers
13 Aug
Received a loan from NBC cash
$25,000.00
24 Boxes Air Filter
$720.00 per box
14 Aug
Provided services on credit to P&S Auto
96 Bottles fuel injector cleaner
$200.00 per bottle
18 Large motorbike engines (full service)
$950.00 per engine
48 Boxes Spark Plug
$300.00 per box
12 medium size motor bike engines
$650.00 per engine
36 Boxes Brake Shoe
$580.00 per box
24 medium size motorbike engines
$550.00 per engine
24 Boxes Disc Pads
$400.00 per box
20 small motorbike engines
$350.00 per engine
5 Aug
Provided services for cash less 10% discount
21 Aug
Paid CT Ltd by cheque
$8,000.00
12 small motorbike engines
$350.00 per engine
22 Aug
Paid wages cash
$8,000.00
6 large motorbike engines (full service)_
$950.00 per engine
23 Aug
Paid Right Way Manufacturer the amount owing to them
8 medium size motorbike engines (full service)
$800.00 per engine
by cheque, they allowed us a 15% discount
7 Aug
Paid Rent by cheque
$5,000.00
27 Aug
P&S Auto paid the amount owing by them in
10 Aug
Paid Wages by cheque
$8,000.00
Cash less 10 % discount
10 Aug
Bought Fixtures from CT Limited
$3,500.00
27 Aug
Electricity paid by cash
$1,500.00
paying by cash
28 Aug
The owner took $5000 out of the bank for his personal use.

Transcribed Image Text:28 Aug
Provided services for cash
12 small motorbike engines
$350.00 per engine
6 medium size motorbike engines
$550.00 per engine
4 medium size motor bike engines
$800.00 per engine
29 Aug
Bought supplies on credit from big J Manufacturers
4 Bottles Fuel Injector Cleaner
$200.00 per bottle
9 Boxes Air Filters
$720.00 per box
8 Boxes Sparks Plugs
$300.00 per box
30 Aug
Provided service for cash
8 small motorbike engines
$350.00 per engine
7 Large motorbike engines
$950.00 per engine
8 Medium motorbike engines
$550.00 per engine
31 Aug
Supplies on hand
5 Boxes Air Filter
$720.00 per box
6 Bottles fuel injector cleaner
$200.00 per bottle
12 Boxes Spark Plug
$300.00 per box
13 Boxes Brake Shoe
$580.00 per box
9 Boxes Disc Pads
$400.00 per box
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