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FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following entries are in the books of Moh Co. for the month of Jan,2021: 10th Jan Started up the business with a capital of 300,000. 12th Jan Purchase Goods costed 10,000. 13th Jan Sold goods for 7,000 on account. 17th Jan: Purchase printer costed 20,000 on account 18th Jan Bought Land for 50,000. 19th Jan: Received 3,000 from the client for goods sold on 13th Jan. 19th Jan Bought Land for 30,000 19th Jan: Withdraw a cash for personal use 2,000. 19th Jan: Paid 2,000 for printer purchased. 19th Jan Paid additional 10,000 for printer purchased. Write: a) Journal Entries. b) ledgers. c) Trial balance for the transactions.
Transcribed Image Text:The following entries are in the books of Moh Co. for the month of Jan,2021: 10th Jan Started up the business with a capital of 300,000. 12th Jan Purchase Goods costed 10,000. 13th Jan Sold goods for 7,000 on account. 17th Jan: Purchase printer costed 20,000 on account 18th Jan Bought Land for 50,000. 19th Jan: Received 3,000 from the client for goods sold on 13th Jan. 19th Jan Bought Land for 30,000 19th Jan: Withdraw a cash for personal use 2,000. 19th Jan: Paid 2,000 for printer purchased. 19th Jan Paid additional 10,000 for printer purchased. Write: a) Journal Entries. b) ledgers. c) Trial balance for the transactions.
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