Home / Expert Answers / Accounting / t-date-entries-dr-cr-1-pa784

(Solved): T# Date Entries Dr. Cr. 1 ...



T#

Date

Entries

Dr.

Cr.

1

 

 

 

 

 

 please answer for the 16 transaction

Transaction number

Date

June

Transaction  

1

1st

The owner invests £175,000 cash in the business.    

2

2nd

The business purchases office equipment for £42,000 cash.  

3

4th

The business purchases for £2,500 on account from a Supply Company computer paper and other supplies expected to last for several months  

4

6th

The business receives £7,500 cash from customers for programming services it has provided   

5

9th

The business provides £12,000 of programming and maintenance services for a customer. It receives cash of £8,000, and it bills the balance of £4,000 on account.

6

10th

The business purchases computer accessories as an inventory in order to resell them. The business purchases 1,200 headsets for £13 each with credit term of 8/10, n/30. 

7

11th

The business finds out that 112 pieces of headsets are defective and returns them back to the supplier.  

8

19th

The business pays the purchases due balance for the supplier. 

9

20th

The business sells 720 units for customers for £22 each, with credit term of 5/15, n/ 30.

10

22nd

The customer returns 85 headsets that don’t meet the specifications.   

11

29th

The business receives the sales due balance from the customers.  

12

28th

The business owner withdraws £1,800 cash from the business for his personal use.  

13

29th

The business hires a new secretary with basic salary of £1,000. 

14

30th

The business receives £9,000 for programming services that will provide during the next 5 months. 

15

30th

The business pays the following expenses in cash for February: Store rent £1,250, salaries and wages of employees £2750 and utilities £1,320.  

16

30th

The business purchases a 6-month insurance policy for £9,500 



We have an Answer from Expert

View Expert Answer

Expert Answer


Preparing the journal entries: A B C D E 1 T# Date Entries Dr. Cr. 2 1 June 1st Cash £175,000 3 Equity Capital or Common Stock £175,000 4 (To record c
We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe