Answer to Question #278617 in Accounting for Pranav Karthik

Question

Write up the asset, capital and liability accounts in the books of D Gough to record the following transactions:

20X9

June 1

• == 2
• == 5
• == 8
• == 12
• == 15
• == 19
• == 21
• == 25
• == 30

Started business with £16,000 in the bank.

Bought van paying by cheque £6,400.

Bought office fixtures £900 on credit from Old Ltd. Bought van on credit from Carton Cars Ltd £7,100. Took £180 out of the bank and put it into the cash till. Bought office fixtures paying by cash £120.

Paid Carton Cars Ltd a cheque for £7,100.

A loan of £500 cash is received from B Berry.

Paid £400 of the cash in hand into the bank account. Bought more office fixtures paying by cheque £480.

Answer 1

Solution:

The journal entries are as follows: