Titanic Itd presents the following transactions for the 3-month period ending 31 March 2021: 28. 3 January Issued 50,000 ordinary shares with a nominal value of £1 each at a price of £1.10 each for cash paid directly into the bank account. 3 February Purchased goods amounting to £20,000 on credit from JD Wholesalers Ltd for resale 20 February Sold goods amounting to £30,000 on credit to Havens Trading Ltd. 29 March Paid £16,000 by bank transfer to JD Wholesalers Ltd Record the transactions in appropriate ledger accounts.

Titanic Itd presents the following transactions for the 3-month period ending 31 March 2021: 28. 3 January Issued 50,000 ordinary shares with a nominal value of £1 each at a price of £1.10 each for cash paid directly into the bank account. 3 February Purchased goods amounting to £20,000 on credit from JD Wholesalers Ltd for resale 20 February Sold goods amounting to £30,000 on credit to Havens Trading Ltd. 29 March Paid £16,000 by bank transfer to JD Wholesalers Ltd Record the transactions in appropriate ledger accounts.

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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