Beginner Accounts questions?

Q1. Complete the following by writing the name of the account to be debited and account to be credit. a)Goods bought on credit from T Morgon b)Goods returned to us by J Thomas c)Machinery returned to Jones Ltd. d)Goods bought for cash. Q2. Enter the following transactions in the appropriate ledger /T-accounts( just write where they go...) Aug1 Started business with$1000 cash. Aug 2 Paid $900 of the opening cash into the bank. Aug 4 Bought goods on credit $78 from S Holmes. Q3. Enter the following transactions in the books of prime entry i.e the Basic Four Journals (Purchases Journal, Sales Journal, Return Inwards Journal and Return Outwards Journal ). Jan 1 Bought goods on credit from F Jones $500 and S Charles $670 Jan 2 Bought goods fir cash $50

3 weeks ago - 1 answers