Mar 1st owner invested 600,000 as cash Journal

Mar3rd cash sales 400,000 DATE Description

Mar 7th Bought equipement worth 150,000 1st Mar cash
Mar 9th credit sales to Mr.C 45,000 capital
Mar 11th Obtained a bank loan worth 120,000 (capital)
Mar 14th Received a rent income of 90,000 3rd cash
Mar 17th paid electricity 15,000 sales
Mar 19th Mr.C paid back 10,000 (cash sales)
Mar 20th Insurance paid 67,000 7th Equipement
May 24th received service income 30,000 cash
(Equipement purhcase)
9th Mr.c
SALES
(CREDIT SALES)
11TH CASH
bank loan
14th0 cash
rent income
17th electricity
cash
19th cash
MR.c
(MR.c PAID BACK)
20TH Insuracne
cash
(insurance paid)
24th cash
service income
 Journal
DR CR Debtit Credit
600,000 Assets
600,000 Expenses increase decrease
Drawings
400,000 liability
400,000 Income decrease increase
Capital
150,000
150,000
ent purhcase)
45000
45000

120,000
120,000
90,000
90,000
15000
15000
10,000
10,000

67000
67000

30,000
30,000
1,527,000 1,527,000
You are required to record the following tranactions in the journal DATE
1st Mar
1st Mar capital invetsed as cash 400,000
3rd Mar bought equipement for cash 75,000
9th Mar received rent income of 65,000
11th Mar cash sales 90,000 3rd Mar
14th Mar paid insurance 50,000
17th Mar bought laptops on credit from Mr.A 120,000
20th Mar obtained a bank loan for 150,000
9th

11th

14th

17th

20th
 Journal
Description DR CR Debtit Credit
cash 400,000 Assets
capital 400,000 Expenses increase decrease
(capital invested) Drawings
liability
Equipement 75,000 Income decrease increase
cash 75,000 Capital
(equipement purchase)

cash 65000
rent income 65000
(rent income)

cash 90,000
sales/revenue 90,000
(cash sales)
insurance 50,000
cash 50,000
(insurance paid)
Laptops 120,000
Mr.A 120,000
(laptops bought on credit)
cash 150,000
bank loan 150,000
(bank loan obtained)

950,000 950,000
The following transactions was provided by Mr.James for the month of June 2016 on his bakery business and aske
June 1st Invested 400,000 as cash,500,000 as Equipment
June 4th Bought furniture worth 80,000 by cash
June 7th Cash sales 50,000
June 9th Obtained a long term loan for 300,000
June 10th Sales 70,000 (cost 120,000)
June 12th Bought a land worth 800,000 of which 40% by with cash immediately and rest on credit
June 14th-Rceived a rent income of 15,000
June 15th-Credit sales to Peter 150,000
June 16th-Purchased equipements on credit from Mr.Sam for 160,000
June 17th-Sales 150,000 (cost 90,000)
June 20th-Peter paid back 15%
June 21st-Owner withdrew 70,000 as cash
June 23rd-James paid back Sam with 40,000
June 25th-Paid 12,000 for the transaction happened on 12th June
June 26th-Bought 40,000 worth goods by cash and 90,000 worth goods on credit from John.
June 27th-Paid Electricity 50,000 and salaries 67,000
June 28th-Reinvested 120,000 worth Equipment
June 29th-Owner withdrew 12,000 worth Equipment for his personal use
June 30th-Cash sales 75,000
his bakery business and asked you enter the details in the accounting equation
Assets .= Liability .+ Equity

NCA CA NCL CL
June 1st 500,000 400,000 900,000
(capital)
4th 80,000 -80,000
(purchase of furniture)
7th 50,000
-50,000
(cash sales)
9th 300,000 300,000
(long term loan)
10th 70,000 -50,000
-120,000
(sales with loss)
12th 800,000 -320000 480,000
(land purchase)
14th 15000 15000
(rent income)
15th 150,000 peter
-150,000
(credit sales to Peter)
16th 160,000 160,000
(Equipment on credit)
17th -90,000 60,000
150,000
(sales with profits)
20th -22500 peter
22500 cash
(Peter paid back)
21st -70,000 -70,000
(drawings)
23rd -40,000 -40,000
(Sam was paid back)
25th -12,000 -12,000
(paid back the creditor)
26th 40,000 inventory 90,000
 -40,000 cash

90,000 inventory
(inventory purchase)
27th -50,000 -50,000
-67,000 -67000
(expenses paid)
28th 120,000 120,000
(capital)
29th -12,000 -12,000
(drawings)
30th 75,000
-75000
(cash sales)
1,648,000 176,000 300,000 678,000 846,000
1,824,000 1,824,000