Question

Monica started a business on 1st January 2018. The following are her transactions:
- Jan 1st: capital $20,000 was paid into a business bank account.
- Jan 2nd: paid rent $500 by cheque
- Jan 4th: returned goods $100 to Jake
- Jan 7th: sold goods $1700 on credit to Clara
- Jan 9th: paid $3000 by cheque to Jake
- Jan 12th: Clara paid $1000 by cheque
- Jan 13th: paid office expenses in cash $20
- Jan 14th: cash sales $1500
- Jan 15th: cash withdrawn for personal use $500

Record the above transactions using the double-entry system, T accounts, and bring down the balance on 1st Feb 2018

Answer 1

Paid salary ₹ 500 and salary outstanding being ₹ 100. (vi) Bought motorcycle for personal use ₹ 5,000. Answer: S. No.

Explanation:

give thanks

Answer 2

Explanation:

hope it will help you mate.......