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  • CER3054 T1 - Transactions Used in The Cake Shop Example

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    Charlene Montebello
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    The document discusses accounting terminology related to transactions for The Cake Shop. It lists 7 transactions: 1) Depositing €50,000 into the business bank account. 2) Taking a €100,000 loan from the bank to buy a shop. 3) Transferring €2,000 from the bank account to the shop cash register. It also describes buying goods from suppliers, selling goods to customers for cash or on credit terms.

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    CER3054 T1 - Transactions Used in the Cake Shop Example

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    The document discusses accounting terminology related to transactions for The Cake Shop. It lists 7 transactions: 1) Depositing €50,000 into the business bank account. 2) Taking a €100,000 loan from the bank to buy a shop. 3) Transferring €2,000 from the bank account to the shop cash register. It also describes buying goods from suppliers, selling goods to customers for cash or on credit terms.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    10 views1 page

    CER3054 T1 - Transactions Used in The Cake Shop Example

    Uploaded by

    Charlene Montebello
    The document discusses accounting terminology related to transactions for The Cake Shop. It lists 7 transactions: 1) Depositing €50,000 into the business bank account. 2) Taking a €100,000 loan from the bank to buy a shop. 3) Transferring €2,000 from the bank account to the shop cash register. It also describes buying goods from suppliers, selling goods to customers for cash or on credit terms.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    CER3054 Bookkeeping 1 Topic 1 – Accounting Terminology

    Topic 1 – Accounting Terminology

    Transactions for The Cake Shop

    1) Started the business by depositing €50,000 in the business


    bank account.

    2) Took a loan from the bank for €100,000 to buy a shop.

    3) Transferred €2,000 from the bank account to the shop


    cash register.

    4) Bought goods from A.A. Foods for €200, paying by cash.

    5) Bought goods from J. Calleja Wholesaler for €6,000 on


    credit.

    6) Sold goods to Jack and Jill €20, and they paid by cash.

    7) Sold goods to Popeye and Olivia for €3,244. They will pay
    after 30 days.

    Lucienne Vella Page 1 of 1

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