On May 1st, 20XX, Antoinette started her business with the following assets and liabilities: I would like you to accurately enter the following transactions into the manual accounting systems listed below if someone can help me this out please. Please show me from May 1 to May 31 Cash Payments Journal entries please if someone can help.
a. Cash Payments Journal
Inventory – Herbs and Oils $59,000
Inventory – Books and Other $3,000
Furniture and Fittings $13,000
Tools and Equipment $18,000
Delivery Van $42,000
Paid $1,815 to Paxton Realty for May rent. Cheque 64001
Paid radio station 2NNN $451 for advertising. Cheque 64002
Paid $1,210 to Top Fittings for new shelving. Cheque 64003 (Note to be classified as Furniture and Fittings)
Purchased Books worth $1,804 from Biz-Sys on credit. The invoice included $44 delivery charge. Inv. J2205.
Parris Personnel opened an account and bought Herbs and Oils worth $1,320 and Books worth $242. Invoice 001.
Ridgeway Bank bought Herbs and Oils for $3,630 and Books for $880 on account. Invoice 002.
Cashed cheque of $220 for establishment of petty cash. Cheque 64004
Banked cash receipts of $3,168. This amount is made up of:
Oil sales $2,750
Book sales $418
Provided consultation service to Parris Personnel $110. Invoice: 003
Bought Books on credit from ‘Scene in Books’ (SIS) for $3,520. Invoice: 4406.
Paid cleaner $66. Cheque 64005 (Note: to be recorded as Sundry Expense)
Sold Books to Parris Personnel, $242. Invoice: 004
Paid account of Biz-Sys in full. Cheque 64006
Banked cash receipts: Herb sales $2,200
Books and other sales $ 440
Sold Herbs and Oils to Ridgeway Bank $880. Invoice: 005
Paid SIS for Invoice of May 12th less discount of $55. Cheque 64007
Bought Herbs and Oils from Biz-Sys $7,480. Invoice: J2421.
Banked cash receipts: Herb sales $3,080
Books and other sales $275
Consultation Services $242
Invoiced Ridgeway Bank for customised Herbs and Oils $1,540. Invoice:006
Received credit note C224 from Biz-Sys for $990 for Oils and herbs returned. Originally purchased on Invoice J2421.
Paid Biz-Sys balance owing from Invoice J2421 less discount of $22. Cheque 64008
Received delivery of Books from SIS $2,420. Invoice: 4520
Received $2000-part payment from Ridgeway Bank. Receipt 001
Paid cleaner $66. Cheque 64009 (Note: to be recorded as Sundry Expense)
Received payment from Parris Personnel for Invoices 001 and 003. Receipt 002
Drew cash cheque for wages $1,110 and drawings $660. Cheque 64010
Received telephone bill no 94361117/1 $242 from Telet
Received electricity bill no 41.7044 $88 from Atlas Electricity
Banked cash receipts: Herbs and Oils sales $2,750
Books and other sales $462
Consultation services $275
Reimbursed Petty Cash for expenditure for month (Cheque 64011):
Motor Vehicle Expenses (Fuel and oil) $121.00
Sundry Expenses $85.80
It’s that simple.Pay only when you are satisfied.
Get Personalized Homework Help
Improve Your Grades Today
How It Works
1-Send us your Assignment requirements, attach and deadline for submission.
2-You will get a confirmation from us with a price quote.Pay us and be relax.
3-Your Completed task will be e mailed to you before agreed time.
Submit Your Assignment/Essay/Discussion/Term Paper/Final Exam or CaseStudy Detail
Send your academic problems,
Get instant Help only at Writerscampus!