Jan. 1. Business started with Rs. 2, 50,000 5. Purchased goods for cash Rs. 10,000 8. Sold Goods o Gandhi for Cash Rs. 3,000 10. Paid salary of Rs. 12,500 15. Paid Raj the Manager his salary of Rs. 3,000/-

Joana irabon establish a business Joana mdse, a non-VAT registered company. Below are the completed merchandising transactions in the month of January: 1. Purchase gppds to pigeon store worth $54,500,terms 2/10, n/30,FOB shipping point, freight prepaid, $1,500. 2. returned defectives goods to...

1. Adams made initial investment of the ff: Cash 1,000,000 Books 100,000 Computers 120,000 Tables 80,000 2. Borrowed 200,000 from City Bank giving a note therefor. 3. Income collected and billed: Cash collected from...

5 Issued 2,100, $4.00 preferred shares in exchange for a truck. The shares are valued at $19.50 per share. The truck is expected to have a 250,000 km life, a residual value of $4,000, and is amortized using units of production. 5 Received an office building in exchange for 25,000 common shares....

Art services performed for which payment has been received in advance total $1,400. How would this be journalized?