User Account

All Pages

Prepare the journal entries

Assignment Help Financial Accounting
Reference no: EM133207328

These are the following transactions during the first month:

  1. December 1st - Jack invested £240,000 cash in the business.
  2. December 1st - Jack bought some shelving equipment £8,100 cash
  3. December 2nd- Jack made purchases on credit for £6000.
  4. December 3rd- Jack made sales on credit to Tom Smith for £800.
  5. December 5th- Jack withdrew £900 for personal use.
  6. December 7th - Jack paid wage expenses, £1000 in cash
  7. December 9th - Jack made further sales for £3,000 cash.
  8. December 15th - Jack made further purchases for cash for £2400
  9. December 28th - Jack paid telephone bill for £200 cash, and also advertising £130 cash
  10. December 30th - Tom Smith paid by cash £800.

Questions:

  1. Prepare the journal entries

Reference no: EM133207328

Questions Cloud

Define the boundaries of the genre : Arizona State University-Explore one genre of African American literature. Define the boundaries of the genre
Evaluate bbi controls : The balances from the previous accounting system, as well as those in other master records such as the customer and supplier databases, were transferred to a ne
Explain the difference between an abil : Explain the difference between an ABIL, a year end operating loss, and a business that is sold at a loss and how each would affect a clients Income Taxes.
Why southern california have earthquakes : Why do we have earthquakes here in southern California? Discuss some actions that you can take right now to help you and your family
Prepare the journal entries : These are the following transactions during the first month:
Beauty and wonder of god love for diversity : Consider for a minute the beauty and wonder of God's love for diversity. God made our world, and the people in it, so diverse and unique!
How gross pro?t from selling parachute can be computed : Fellwell is a company producing ?ight safety parachutes for drones. The cost of producing a parachute can be breakdown into ?xed cost of $50000 per year and var
Determine the cut-off value for investigation : Determine cut-off value for investigation if the controller's rule of thumb is to investigate all variances equal to or greater than 5 percent of standard cost
Identify behaviors that you would like to improve : Identify behaviors that you would like to improve or change. Using cognitive behavioral approach, explain how this behavior improves over the next three weeks

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd