FINANCIAL ACCOUNTING ASSIGNMENT- BALANCE SHEET QUESTION
QUESTION
Write up the asset, capital and liability accounts in the books of M Crash to record the following transactions:
2002
June 1 Started business with £50,000 in the bank.
" 2 Bought motor van paying by cheque £12,000.
" 5 Bought Fixtures £4,000 on credit from Office Masters Ltd.
" 8 Bought a van on credit from Motor Cars Ltd £8,000.
" 12 Took £1,000 out of the bank and put it into the cash till.
" 15 Bought Fixtures paying by cash £600.
" 19 Paid Motor Cars Ltd by cheque £8000.
" 21 A loan of £10,000 cash is received from J Marcus.
" 25 Paid £8,000 of the cash in hand into the bank account.
" 30 Bought more Fixtures paying by cheque £3,000.