Reference no: EM132955386

Problem 1: Prepare a transaction analysis chart for the following

2021 January

1 Awasa commenced business depositing K10 000 into the business bank account

2 Purchased stock K1 500 for cash

3 Purchased delivery van K3 000 for cash

4 Sold goods for cash K800

5 Sold goods on credit to David K1 200

6 Paid rent K100

7 Purchased stock K2 000 for cash

8 Purchased stock on 30 day (credit) terms K1 500 from Philip

12 Returned faulty goods to Philip K300

13 Returns inwards from David K250

15 Cash received from David K750

22 Paid K1 000 to Philip 27 Paid staff wages K500

28 Cash sales K2 200

29 Paid electricity bill K200

30 Cash withdrawn by Awasa for personal use K150