question archive Accounting for Assets, Liabilities and Capital- Unit 3 Naudo set up business on 1* April 2009
Subject:AccountingPrice:18.99 Bought3
Accounting for Assets, Liabilities and Capital- Unit 3
Naudo set up business on 1* April 2009. The following transactions took place
2009
Apr 1 Paid €46,000 into a business bank account as capital.
2. Bought office equipment on credit from F. Galea for €700.
4 Bought shop premises paying for them by cheque €25,000.
9 Returned some faulty office equipment to F. Galea €90.
On 1st January 2010 T. Caruana started a business using a loan from his uncle Thomas for €25,000 which he paid into a business bank account.
During the month of January the following transactions took place:
Jan 3 Bought shop fittings by cheque for €6,000.
4 Drew cash from bank for business use €1,000.
10 Had further loan from Uncle Thomas in cash €5,000.
15 Bought office furniture valued at €3,000 on credit from R. Sultana.
17 Returned some of the office furniture €200 to R. Sultana as it was faulty.
20 Paid R. Sultana in cash for the amount owing to him.
28 Paid cash into bank leaving cash balance of €500.
Purchased 3 times