transactions: February 2024. Date Description 3 Paid rent to Landlord Pty Ltd for the next 2(two) months - $2,000 5 Received and paid Vehicle expenses from Holden $1257 Received payment from The Electronic Store Pty Ltd for January account. 8 Received payment from Big HiFi for January account. 9 Paid Sanyo Pty Ltd. for January account. 10 Paid EZ AUST. Pty Ltd. for January account. 11 Pay day. Betty was paid for 65 hours and Terry was paid for 65 hours, which includes wages owing from January. (see the TB from January) 12 Purchased more inventory 25 x EST and 21 x SMS, both on credit 13 Returned 4XSMS to Sanyo Ltd due to the inventory being damaged 15 Credit sales to Electronic Store for the following items: 13 x SMS, 19 x EST. 16 The Electronic Store returned 2 X SMS, due to an order mistake, the goods were returned to inventory. 17 Cash sales to Rivoli HiFi. Inventory sold: 10 x SMS and 12 x EST 19 Paid Telstra invoice for Telephone Expenses $500 25 Pay day. Betty was paid for 65 hours and Terry was paid for 65 hours. 29 Borrowed money from the ABC bank, $17,000 at an interest rate of 6% Adjustments at 29th February 2024. 1. Depreciation of computer equipment is $1,200 per annum. 2. Depreciation of Warehouse equipment is $1,800 per annum. 3. Accrued wages: Betty - 16 hour and Terry 16 hours. 4. Stationery on hand as of 29th February 2024 totalled $350. 5. The portion of prepaid insurance expired as of 29th February 2024 is $300. record general journay
transactions: February 2024. Date Description 3 Paid rent to Landlord Pty Ltd for the next 2(two) months - $2,000 5 Received and paid Vehicle expenses from Holden $1257 Received payment from The Electronic Store Pty Ltd for January account. 8 Received payment from Big HiFi for January account. 9 Paid Sanyo Pty Ltd. for January account. 10 Paid EZ AUST. Pty Ltd. for January account. 11 Pay day. Betty was paid for 65 hours and Terry was paid for 65 hours, which includes wages owing from January. (see the TB from January) 12 Purchased more inventory 25 x EST and 21 x SMS, both on credit 13 Returned 4XSMS to Sanyo Ltd due to the inventory being damaged 15 Credit sales to Electronic Store for the following items: 13 x SMS, 19 x EST. 16 The Electronic Store returned 2 X SMS, due to an order mistake, the goods were returned to inventory. 17 Cash sales to Rivoli HiFi. Inventory sold: 10 x SMS and 12 x EST 19 Paid Telstra invoice for Telephone Expenses $500 25 Pay day. Betty was paid for 65 hours and Terry was paid for 65 hours. 29 Borrowed money from the ABC bank, $17,000 at an interest rate of 6% Adjustments at 29th February 2024. 1. Depreciation of computer equipment is $1,200 per annum. 2. Depreciation of Warehouse equipment is $1,800 per annum. 3. Accrued wages: Betty - 16 hour and Terry 16 hours. 4. Stationery on hand as of 29th February 2024 totalled $350. 5. The portion of prepaid insurance expired as of 29th February 2024 is $300. record general journay
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:transactions: February 2024. Date Description 3 Paid rent to Landlord Pty Ltd for the next 2(two) months - $2,000 5
Received and paid Vehicle expenses from Holden $1257 Received payment from The Electronic Store Pty Ltd for
January account. 8 Received payment from Big HiFi for January account. 9 Paid Sanyo Pty Ltd. for January account. 10
Paid EZ AUST. Pty Ltd. for January account. 11 Pay day. Betty was paid for 65 hours and Terry was paid for 65 hours,
which includes wages owing from January. (see the TB from January) 12 Purchased more inventory 25 x EST and 21 x
SMS, both on credit 13 Returned 4XSMS to Sanyo Ltd due to the inventory being damaged 15 Credit sales to Electronic
Store for the following items: 13 x SMS, 19 x EST. 16 The Electronic Store returned 2 X SMS, due to an order mistake, the
goods were returned to inventory. 17 Cash sales to Rivoli HiFi. Inventory sold: 10 x SMS and 12 x EST 19 Paid Telstra
invoice for Telephone Expenses $500 25 Pay day. Betty was paid for 65 hours and Terry was paid for 65 hours. 29
Borrowed money from the ABC bank, $17,000 at an interest rate of 6% Adjustments at 29th February 2024. 1.
Depreciation of computer equipment is $1,200 per annum. 2. Depreciation of Warehouse equipment is $1,800 per
annum. 3. Accrued wages: Betty - 16 hour and Terry 16 hours. 4. Stationery on hand as of 29th February 2024 totalled
$350. 5. The portion of prepaid insurance expired as of 29th February 2024 is $300. record general journay
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