Question
In: Accounting
the following are the transaction of unza limited for the month of june 2018 june 1...
the following are the transaction of unza limited for the month of june 2018
june 1 introduced capital of k 95,000 into the bank
june 2 purchased goods on credit from smith and co for k 8000
june 3 cash sales k320
june 5 sold goods on credit to p jones for k 700
june 6 cash purchases k300
june 8 purchased goods on credit from smith and co. for k 1600
june 9 paid smith and co. k 7000 by cheque
june 11 paid wages k 960 by cheque
june 12 paid wages by cash k80
june 15 sold goods on credit to s.roche for k 1600
june 17 s. roche returned goods , k700
june 19 p.jones paid k 90 and was allowed k 6 % discount
june 22 paid ligh and heat by cheque k 400
june 23 purchsed delivery van by cheque k 8000
june 25 s.roche cleared his account and was allowed 5 % discount
june 27 paid wages by cheque by cheque k 820
june 28 cash sales k 1000
june 29 drawings by cheque k 450
june 30 paid wages by cheque k 820
1) complete the double entries for each transaction clearly indicating a debit and credit entires
2) post the entries to the ledger or T accounts and balance the accounts
3) complete the trial balance
4) prepare the income statement
5) prepare the balance sheet
Solutions
ekkarill92 answered 1 year agoRelated Solutions
The following transactions occurred during the month of June 2018 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June
2018 for the Stridewell Corporation. The company owns and operates
a retail shoe store.
1.Issued 140,000 shares of common stock in exchange for $700,000
cash.
2.Purchased furniture and fixtures at a cost of $113,750.
$45,500 was paid in cash and a note payable was signed for the
balance owed.
3.Purchased inventory on account at a cost of $280,000. The
company uses the perpetual inventory system.
4.Credit sales for the month totaled...
The following transactions occurred during the month of June 2018 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June
2018 for the Stridewell Corporation. The company owns and operates
a retail shoe store.
Issued 125,000 shares of common stock in exchange for $625,000
cash.
Purchased furniture and fixtures at a cost of $102,500. $41,000
was paid in cash and a note payable was signed for the balance
owed.
Purchased inventory on account at a cost of $250,000. The
company uses the perpetual inventory system.
Credit sales for the month totaled...
The following transactions occurred during the month of June 2018 for the Stridewell Corporation. The company...
The following transactions occurred during the month of June
2018 for the Stridewell Corporation. The company owns and operates
a retail shoe store. Issued 145,000 shares of common stock in
exchange for $725,000 cash. Purchased furniture and fixtures at a
cost of $117,500. $47,000 was paid in cash and a note payable was
signed for the balance owed. Purchased inventory on account at a
cost of $290,000. The company uses the perpetual inventory system.
Credit sales for the month totaled...
Description of transaction Transaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,610...
Description of transaction
Transaction
Description of transaction
01.
June 1: Byte of Accounting, Inc. issued 2,610 shares of its common
stock to Jeremy after $24,380 in cash and computer equipment with a
fair market value of $35,650 were received.
02.
June 1: Byte of Accounting, Inc. issued 1,839 shares of its common
stock after acquiring from Courtney $28,750 in cash, computer
equipment with a fair market value of $12,880 and office equipment
with a fair value of $667.
03.
June...
The following transactions took place during the month of June 2018 for Syarikat Bam Buu. Date...
The following transactions took place
during the month of June 2018 for Syarikat Bam Buu.
Date
Particular
RM
June 1
Started business with RM20,000 in
bank.
7
Sold goods on credit to Syarikat Kam
Yuu
3,000
10
Paid shop rental by cheque
1,100
12
Syarikat Kam Yuu returned goods
500
15
Withdrew cash from bank for personal
use
1,200
18
Bought goods on credit from Syarikat
Pelangi
2,000
20
Purchased an equipment on credit from
Syarikat Awan
1,000
25
Returned...
1.The following information is available for the Savvy Company for the month of June. a. On...
1.The following information is available for the Savvy Company
for the month of June.
a. On June 30, after all transactions have been recorded, the
balance in the company's Cash account has a balance of
$17,202.
b. The company's bank statement shows a balance on June 30 of
$19,279.
c. Outstanding checks at June 30 total $2,984.
d. A credit memo included with the bank statement indicates that
the bank collected $770 on a note receivable for Savvy.
e. A...
The following information is available for the Savvy Company for the month of June. On June...
The following information is available for the Savvy Company for
the month of June. On June 30, after all transactions have been
recorded, the balance in the company's Cash account has a balance
of $17,202. The company's bank statement shows a balance on June 30
of $19,279. Outstanding checks at June 30 total $2,984. The bank
collected $770 on a note receivable that is not yet recorded by
Savvy Company. A $67 NSF check from a customer, J. Maroon is...
Transaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued 2,610 shares of its...
Transaction
Description of transaction
01.
June 1: Byte of Accounting, Inc. issued 2,610 shares of its common
stock to Jeremy after $24,380 in cash and computer equipment with a
fair market value of $35,650 were received.
02.
June 1: Byte of Accounting, Inc. issued 1,959 shares of its common
stock after acquiring from Courtney $31,050 in cash, computer
equipment with a fair market value of $13,340 and office equipment
with a fair value of $667.
03.
June 1: Byte of...
Byte of Accounting, Inc. Transaction Description of transaction 01. June 1: Byte of Accounting, Inc. issued...
Byte of Accounting, Inc.
Transaction
Description of transaction
01.
June 1: Byte of Accounting, Inc. issued
2,640 shares of its common stock to Jeremy after $31,030 in cash
and computer equipment with a fair market value of $45,530 were
received.
02.
June 1: Byte of Accounting, Inc. issued
2,382 shares of its common stock after acquiring from Courtney
$50,750 in cash, computer equipment with a fair market value of
$17,400 and office equipment with a fair value of $928.
03....
Luangwa, a public limited company, is assessing the accounting treatment of the following transaction for the...
Luangwa, a public limited company, is assessing the accounting
treatment of the following transaction for the year ended 31 May
2016.
On 1 June 2014, Luangwa had granted share appreciation rights to
200 senior executives. Each executive will receive 2,000 rights on
31 May 2017 provided he or she continues to be employed by Luangwa
at that date. On 1 June 2014, the directors estimated that all the
executives would remain employed by Luangwa for the three-year
period ending on...
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