FAGE NO.:WAMBWIRE Starts businessOn 1" july 2021, when hepaysh 180,00 into the business account · During theof july, he undertakes the Güllwing transeitim.2021July 3 sh 25,000 ond pays cashHe purchases shop titlings forJuly 4 He buys a motor vehicle from AB Co on credit sh 30,000He buys stock for sh i5,000He sells goods for cash sh 10, OUDBuys goodsSells gouls to A smith forPays wages Sh 1300Pays AB $CO. sh 30,000andCash.paysJuly 6Suly 8July 10| July 12July 13July I5July 21July 25Suly 30July 31on Credit from XY $Co for sh 12,000sh Gooo on creditReceives from' A Smith a choque for sh q,000Sells goods for Cash 3000Pays general expenses sh 800Draws sh so out of business forThispercomaluse ·REQUIRED.a Journalize the above transg tons.b Use T acounts to enter : the dbove transactions into Ledger.c Clase the accounts and determine the respective balancesdi Ex tract a trial balance at 3 1st july 202 1-

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AMBWIRE Star'13 sh 180,00 into the business account. During the onth of july, he undestakes The füllowing transet Ty 3 He purchases shep itings for ond pays sh 25,000 ly 4 He buys a mstor vehicle from ABd co on credit sh Dous Cash.

AMBWIRE Star'13 sh 180,00 into the business account. During the onth of july, he undestakes The füllowing transet Ty 3 He purchases shep itings for ond pays sh 25,000 ly 4 He buys a mstor vehicle from ABd co on credit sh Dous Cash.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 3PB: Hajun Company started its business on May 1, 2019. The following transactions occurred during the...

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Dec. 01 Mr. Sy, owner of Sy General Services, invested P5,000 cash in the business02 Bought supplies P700 on account.03 Rendered services P1,100 on account.On December 31, 2020 Sy General Services has an estimated uncollectible 1% of itsaccounts receivable.Required:1. Journalize the transactions.2. Post the journal entries to the ledgers.3. Prepare the unadjusted trial balance.4. Prepare an adjusting journal entry.5. Prepare the adjusted trial balance.
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