$

Gino commenced business by depositing cash into the business account

50,000

Gino also invested: inventory valued at

7,000

Gino also invested: a vehicle valued at

22,000

Land and buildings costing $200,000 were purchased with a deposit of

80,000

The balance was raised by a mortgage with the TSB Bank

120,000

Purchased plants (inventory) on credit from Neva Fare Ltd

40,000

Paid for a patent on a plant design

14,000

Delivery expenses on the plants purchased by Gino were

2,300

Sold plants for cash (cost price was 25,000)

75,000

Received rent on lease of part of his property

5,000

Sold plants to Will Knotpay (cost price 1,100)

3,300

Paid business insurance

1,900

Paid personal insurance

700

Paid Neva Fare Ltd in cash and received discount; cash paid was

38,300

Advertising invoice was received from Dominion Post newspaper

2,900

Purchased plants for cash

19,000

Sold plants on credit to Svima Shaw (cost price was 19,000)

57,000

Delivery expenses of the plants sold to Svima Shaw were

3,900

Paid office expenses (including envelopes, pens etc.) of

4,300

Bad debt to write off (Will Knotpay fled to South America without paying)

3,300

Gino withdrew money for personal use

4,800

Svima Shaw paid her account, less discount; cash received was

55,600

Gino took a pair of plants home for personal use; cost price was

350

Interest was charged on the bank loan

220

Bank fees for the month were paid

50

Purchased shares in Watties Ltd for cash

12,000

Received an invoice from Vodafone for phone use in June

950

Received an invoice for power used in June from Burnout Ltd

770

Wages paid were

8,000

Gino borrowed money from his brother Idunno Wurihiz

12,000

Purchased debentures in Persil Ltd for cash

6,000

Sold plants on credit to Soled Azarok (cost 4,300)

12,900

Stocktake (count of inventory still on hand) at month end was

16,000

Office stores count (of envelopes, pens, paper etc. still on hand) was

1,100