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Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions: Started business with cash Goods purchase for cash Goods purchased on credit Any asset purchased and paid cash Any asset purchase on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to staff Cash withdraw from business for personal use Based on your own 10 transactions, prepare: 1. Journal

Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions: Started business with cash Goods purchase for cash Goods purchased on credit Any asset purchased and paid cash Any asset purchase on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to staff Cash withdraw from business for personal use Based on your own 10 transactions, prepare: 1. Journal

Century 21 Accounting General Journal
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter2: Analyzing Transactions Into Debit And Credit Parts
Section2.3: Analyzing How Transactions Affect Owner’s Equity Accounts
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  1. Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions:
  • Started business with cash
  • Goods purchase for cash
  • Goods purchased on credit
  • Any asset purchased and paid cash
  • Any asset purchase on credit
  • Sold goods for cash
  • Sold goods on credit
  • Paid any bill
  • Paid salary to staff
  • Cash withdraw from business for personal use Based on your own 10 transactions, prepare:

1. Journal

 

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