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(Solved): ACC2201 FINANCIAL ACCOUNTING I T2 The Accounting Equation (Part 3: Balance-off Accounts) 4.3A Prepar...
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ACC2201 FINANCIAL ACCOUNTING I T2 The Accounting Equation (Part 3: Balance-off accounts) 4.3A Prepare the double entries (not the T-accounts) for the following transactions using the format Date July Account name Account name Started in business with Â£5,000 in the bank and Â£1,000 cash. 2 Bought stationery by cheque Â£75. 3 Bought goods on time from T. Smart Â£2,100. 4 Sold goods for cash Â£340. 5 Paid insurance by cash f290. 7 Bought a computer on time from J. Hott Â£700. 8 Paid expenses by cheque 132 10 Sold goods on time to C. Biggins Â£630. 11 Returned goods to T. Smart Â£550. 14 Paid wages by cash Â£210. 17 Paid rent by cheque Â£225. 20 Received cheque Â£400 from C. Biggins. 21 Paid J. Hott by cheque Â£700. 23 Bought stationery on time from News Ltd Â£125. 25 Sold goods on time to F. Tank [645. 31 Paid News Ltd by cheque Â£125. 444
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