2 March Dana paid $750 into the business
16 March Purchased supplies for $300
24 March Paid miscellaneous expenses $60
29 March Cash from customers $450
6 April Received $450 from Radok as a loan repayable in two months time 8 April Purchased supplies $300
9 April Receipts from customers $225
22 April Paid rent on premises $75
30 April Receipts from customers $450.
Dana held no inventory at 30 April.
Required
Prepare:
(iv) a statement of profit or loss (income statement) for the year to date;
(v) a statement of financial position (balance sheet).
BUT WE HAVE COMPLETED ONLY 9 CHAPTERS IN PRINCIPLES OF ACCOUNTING BY Marian Powers, Susan V Crosson, Belverd E Needles, so assuming this information we have to create general journal
2 March Dana paid $750 into the business
16 March Purchased supplies for $300
24 March Paid miscellaneous expenses $60
29 March Cash from customers $450
6 April Received $450 from Radok as a loan repayable in two months time 8 April Purchased supplies $300
9 April Receipts from customers $225
22 April Paid rent on premises $75
30 April Receipts from customers $450.
Dana held no inventory at 30 April.
Required
Prepare:
(i) general journal for the transactions;
(ii) ledger accounts showing descriptions and balances;
(iii) a trial balance;
BUT WE HAVE COMPLETED ONLY 9 CHAPTERS IN PRINCIPLES OF ACCOUNTING BY Marian Powers, Susan V Crosson, Belverd E Needles, so assuming this information we have to create general journal
2 March Dana paid $750 into the business
16 March Purchased supplies for $300
24 March Paid miscellaneous expenses $60
29 March Cash from customers $450
6 April Received $450 from Radok as a loan repayable in two months time 8 April Purchased supplies $300
9 April Receipts from customers $225
22 April Paid rent on premises $75
30 April Receipts from customers $450.
Dana held no inventory at 30 April.
Required
Prepare:
(iv) a statement of profit or loss (income statement) for the year to date;
(v) a statement of financial position (balance sheet).
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