Give the Marits of a Spreadsheet over a Calculater
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Submitted By samaita Words 321 Pages 2
HCS210-Exercise 1
The following information was obtained from the books of JB Ncube , sole proprietor who operates a grocery shop in Gweru Central District for the month of January 2011.
Jan 1 : JB Ncube deposited $30 000 capital in the business bank account. : paid rent by cheque $ 2000.
Jan 3 : Bought goods and issued a cheque $ 12000.
Jan 4 : Sold goods for cash $ 15000.
Jan 7 : Bought goods on credit from the following suppliers; Makanakaishe traders $ 5000 Jaggers Wholesalers $ 7000 Chic Traders $ 15000.
Jan 10: Returned goods to the following suppliers ; Makanakaishe $ 500 Jaggers $ 1000.
Jan 12: JB Ncube used goods worth $ 2000 at cost for personal use.
Jan 15: Issued cheques to the following suppliers: Makanakishe $3 900 in full settlement of the amount owing. Jaggers Wholesalers $ 5000. Chic Traders $ 13000.
Jan 17: Obtained a bank Loan for $ 40 000 from CBZ Ltd.
Jan 20: Sold goods on credit to the following customers; Mashanda $ 14 500 Mangwaya $ 15 500
Jan 22: The following customer returned goods they had bought on credit; Mashanda $ 500 Mangwaya $ 1000.
Jan 23: The following deposits were made by debtors into the business bank account Mashanda $ 14 000 in full settlement of the amount owing Mangwaya $ 10 000.
Jan 25: Bought a Motor vehicle for use in business by cheque $ 10 000.
Jan 27 : JB Ncube introduced his personal equipment with a value of $ 5000 .
Jan 30 : Paid for the following expenses by cheque; $
Rent 500
Electricity 1500
Salaries and wages 700
Traveling expenses 600
Using the above transactions show the effect of the above transactions on the extended basic accounting equation . Show an increase by way of a (+) sign e.g + 500 and a decrease (-) sign e.g -500. For example, Jan 1 : JB Ncube deposited $30 000 capital in the business bank account.
