Structured Question Question 2
Requirement: Prepare the General Journal of the following transactions.
Date Transaction
April 1
Shahad invested $50,000 cash in her cosmetic business.
2
Deposited $40,000 in business bank account.
3
Bought goods which she will resell in the normal course of trade for
$3467 and pays by cheque.
4
Sold a quantity of goods for $892 and pays the money into the bank.
7
A customer returns some goods and receive a refund of $43.75.
11
Zania lends the business $5023 and deposited the money into the
business bank account.
12
Paid rent by cheque, $1621.
14
Delivered goods and received cheque, $2,545.
15
Paid salary of worker by cheque, $1211.
16
Withdraw$650 from the business bank account for personal use.
Note: Don't forget to write EXPLANATION