The following transactions relate to the business of Jacob’s Coffee Shop for the month of February 2022: 01/02/22: Owner deposited N$10,000 as capital contribution. 02/02/22: Bought a coffee machine paid by EFT – N$2,500. 04/02/22: Cash purchases paid by cheque – N$1,500. 10/02/22: Credit sales to Mrs. Hamutenya N$1,500. 15/02/22: Rendered catering services at EN Dorado for N$2,000. Received payment via EFT. 25/02/22: Purchased sugar and tea from Sweeteners cc on Credit N$500. How much is the balance transferred to the profit and loss from the Purchases Ledger account?
The following transactions relate to the business of Jacob’s Coffee Shop for the month of February 2022: 01/02/22: Owner deposited N$10,000 as capital contribution. 02/02/22: Bought a coffee machine paid by EFT – N$2,500. 04/02/22: Cash purchases paid by cheque – N$1,500. 10/02/22: Credit sales to Mrs. Hamutenya N$1,500. 15/02/22: Rendered catering services at EN Dorado for N$2,000. Received payment via EFT. 25/02/22: Purchased sugar and tea from Sweeteners cc on Credit N$500. How much is the balance transferred to the profit and loss from the Purchases Ledger account?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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The following transactions relate to the business of Jacob’s Coffee Shop for the month of February 2022:
01/02/22: Owner deposited N$10,000 as capital contribution.
02/02/22: Bought a coffee machine paid by EFT – N$2,500.
04/02/22: Cash purchases paid by cheque – N$1,500.
10/02/22: Credit sales to Mrs. Hamutenya N$1,500.
15/02/22: Rendered catering services at EN Dorado for N$2,000. Received payment via EFT.
25/02/22: Purchased sugar and tea from Sweeteners cc on Credit N$500.
How much is the balance transferred to the
a.
N$2,000
b.
N$6,500
c.
N$4,500
d.
N$1,500
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