Question 5: Transaction analysis and
recording
Transactions for Melbourne Consultants
Ltd for the month of Jan 2020 are presented below:
Jan 2. Shareholders
invested $180,000 cash in exchange for shares in the business.
Jan 2. Paid office
rent of $4,800 for the month
Jan 3. Purchased
vehicle costing $22,000 for cash.
Jan
6. Purchased equipment
costing $10,000. $7,000 was paid in cash and the remainder on
credit.
Jan 14. Purchased office supplies
on account for $325.
Jan 15. Paid $2,500...