Question

transaction

From the January there should be loss 1445 euros.

Please note, that you can do your submission even if you don't get the correct profit/loss - this is learning by doing - so most important thing is that you have tried to do your best.

Here are the transactions of Prick Ltd from January. Do the entries and after that close all accounts either to Income Statement or to Balance Sheet           

1.1.      Owner has invested €6 300 as an initial capital, the money is deposited to the bank account.       

14.1.    We pay the credit from 9.1. by bank transfer.           

3.1.      We pay the rent from January €560 by bank transfer.         

15.1.    We buy goods to be sold forward against invoice €4 300.   

5.1.      We buy new computer to the office, the payment €630 is made by debit card.      

16.1.    We sell goods to our customers and receive €3 890 in cash.

7.1.      We buy goods to be sold forward. The payment €3500 is made by debit card.      

19.1.    We pay salaries (net) €2 900 by bank transfer.        

8.1.      We sell goods to our customers and receive €4 800 in cash.

20.1.    We buy goods to be sold forward, the payment €1 800 is made in cash.

9.1.      We buy goods to be sold forward against invoice €3 250.   

21.1.    We sell goods to our customers and receive €5 340 in cash.

10.1.    We buy office supplies, the payment €170 is made in cash

24.1.    We transfer €6 900 from cash register to the bank account

12.1.    We sell goods to our customers and receive €1 800 in cash.

28.1.    We buy cleaning utensils, the payment €165 is made in cash.        

13.1.    We transfer €6100 from cash register to the bank account  

29.1.    We pay the credit from 14.1. by bank transfer.         

Answer 1