062 points a Received 83000 cash from each of the two shareh

0.62 points a Received $83,000 cash from each of the two shareholders to form the corporaion, in addition to $2,300 in accounts receivable, $5,900 in in March bill for March to be paid in April van in March in wages to

Solution

Cash Particulars Amount Particulars Amount To share capital 166000 By Building 78000 To bank borrowing 53000 By food & paper 11430 To service provided 2840 By gas 393 To sales of food 12050 By wages 6880 By dividend 660 By equipment 53000 By building 21500 By bal c/d 62027 Total 233890 Total 233890 Account receivable Particulars Amount Particulars Amount To bal B/d 2300 By bal c/d 3960 To service provided 1660 Total 3960 Total 3960 Supplies Particulars Amount Particulars Amount To bal c/d 1350 By bal b/d 1350 Total 1350 Total 1350 Equipment Particulars Amount Particulars Amount To bal b/d 5900 By bal c/d 72500 To cash 53000 To P&L (revalued) 13600 Total 72500 Total 72500 Building Particulars Amount Particulars Amount To cash 78000 By bal c/d 411500 To mortage from bank 312000 To cash 21500 Total 411500 Total 411500