ASSIGNMENT # 1, Business Department

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ACCOUNTING ONE – ASSIGNMENT # 1, Business Department:- Accounting Section FEBRUARY SEMESTER, 2021- Due: Week 13 PEPARATION OF JOURNALS, RUNNING BALANCE LEDGER ACCOUNTS AND TRIAL BALANCE FOR IRIKARL CARTON LTD
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0 i # 0i 0 2 Purchased store furniture on credit from Murumb Ltd for K7, 480 including GST, terms n/60. e 0 I 0 g 5 Purchased inventory on credit from Magani Co. Ltd, K4, 000 plus GST; invoice date 6 July, terms g 2/10, n/60. i Purchase a 3 year fire insurance policy for K792 including GST, cheque no. 102. I 1 0 8 Purchased inventory for K5, 500 including GST, cheque no. 103. 0 if if 9 Returned unsatisfactory goods to Magani Co. Ltd and received an adjustment note (credit note) 0 e for K880, including GST adjustment. o ;I 13 Sold inventory to O. Butterfly on account, K8, 200 plus GST; invoice no,l, terms 1110, n/30. 00 15 Paid Magani Co. Ltd, cheque no. 104 for amount due. a 15 Cash sales for period to 15 July were recorded today, K3, 740 including GST. 16 Sold inventory to D.Kesi on account, K4, 700 plus GST; invoice no. 2, terms 1/10, n/30. 16 Paid salaries for period to 15 July totaling K2, 650, cheque no. 105 (GST —free). o 20 Purchased inventory on credit from Yaken Ltd, K5, 390 including GST; invoice date 20 July, terms 0 1/10, n/30. $ 1 1Page tt; Total Marks: / 100 Marks Assessment Weight; 10 % Prepared by Subject Coordinator: Dl i – –,,- -.—– ——-, –.4. – – – , – -:———,,,…,4,-, ,…,…A.,…. 4′,,…..,.. j: .101 for the land and 0 g buildings and signed a mortgage payable for the balance.
vr, 0 i # 0i 0 2 Purchased store furniture on credit from Murumb Ltd for K7, 480 including GST, terms n/60. e 0 I 0 g 5 Purchased inventory on credit from Magani Co. Ltd, K4, 000 plus GST; invoice date 6 July, terms g 2/10, n/60. i Purchase a 3 year fire insurance policy for K792 including GST, cheque no. 102. I 1 0 8 Purchased inventory for K5, 500 including GST, cheque no. 103. 0 if if 9 Returned unsatisfactory goods to Magani Co. Ltd and received an adjustment note (credit note) 0 e for K880, including GST adjustment. o ;I 13 Sold inventory to O. Butterfly on account, K8, 200 plus GST; invoice no,l, terms 1110, n/30. 00 15 Paid Magani Co. Ltd, cheque no. 104 for amount due. a 15 Cash sales for period to 15 July were recorded today, K3, 740 including GST. 16 Sold inventory to D.Kesi on account, K4, 700 plus GST; invoice no. 2, terms 1/10, n/30. 16 Paid salaries for period to 15 July totaling K2, 650, cheque no. 105 (GST —free). o 20 Purchased inventory on credit from Yaken Ltd, K5, 390 including GST; invoice date 20 July, terms 0 1/10, n/30. $ 1 1Page tt; Total Marks: / 100 Marks Assessment Weight; 10 % Prepared by Subject Coordinator: Dl i – –,,- -.—– ——-, –.4. – – – , – -:———,,,…,4,-, ,…,…A.,…. 4′,,…..,.. j:

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