Write up the following transactions in the books of P. Hewitt: 1 Started in business with cash £16,000. Bought goods on credit from W. Young £420. Paid rent by cash £870. Paid £12,500 of the cash of the business into a bank account. Sold goods on credit to D. Unbar £192. 2 3 4 5 Bought stationery £85 paying by cheque. 11 Cash sales £312. 7 14 Goods returned by us to W. Young £54. 17 Sold goods on credit to J. Harper £212. 20 Paid for repairs to the building by cash £78. 22 D. Unbar returned goods to us £31. 27 Paid W. Young by cheque £366. 28 Cash purchases £470. 29 Bought a van paying by cheque £3,850. 30 Paid motor expenses in cash £216. 31 Bought a computer £730 on credit from B. Coal.
Write up the following transactions in the books of P. Hewitt: 1 Started in business with cash £16,000. Bought goods on credit from W. Young £420. Paid rent by cash £870. Paid £12,500 of the cash of the business into a bank account. Sold goods on credit to D. Unbar £192. 2 3 4 5 Bought stationery £85 paying by cheque. 11 Cash sales £312. 7 14 Goods returned by us to W. Young £54. 17 Sold goods on credit to J. Harper £212. 20 Paid for repairs to the building by cash £78. 22 D. Unbar returned goods to us £31. 27 Paid W. Young by cheque £366. 28 Cash purchases £470. 29 Bought a van paying by cheque £3,850. 30 Paid motor expenses in cash £216. 31 Bought a computer £730 on credit from B. Coal.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:4.2 Write up the following transactions in the books of P. Hewitt:
2013
March
1 Started in business with cash £16,000.
Bought goods on credit from W. Young £420.
Paid rent by cash £870.
2
3
4
5
7
11
Paid £12,500 of the cash of the business into a bank account.
Sold goods on credit to D. Unbar £192.
Bought stationery £85 paying by cheque.
Cash sales £312.
14 Goods returned by us to W. Young £54.
17 Sold goods on credit to J. Harper £212.
20 Paid for repairs to the building by cash £78.
22 D. Unbar returned goods to us £31.
27 Paid W. Young by cheque £366.
28 Cash purchases £470.
29 Bought a van paying by cheque £3,850.
30 Paid motor expenses in cash £216.
31 Bought a computer £730 on credit from B. Coal.
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