Prepare Asset, Liability and Capital Accounts for Michael who had the following transactions for the month of January, 20x3. 01/01/2013: Started business by depositing Ksh 500,000...

      

Prepare Asset, Liability and Capital Accounts for Michael who had the following transactions for the month of January, 20x3.
01/01/2013: Started business by depositing Ksh 500,000 in the bank.
02/01/2013: Purchased a Motor Vehicle paying by cheque Ksh 120,000.
05/01/2013: Purchased Fixtures & Fittings Ksh 40,000 on credit from ABC Ltd.
08/01/2013: Purchased another Motor Vehicle on credit from XYZ Ltd for Ksh 80,000.
12/01/2013: Withdrew Ksh 10,000 from the bank and put it into the cash till.
15/01/2013: Purchased extra Fixtures & Fittings paying by cash Ksh 6,000.
19/01/2013: Paid XYZ Ltd by cheque Ksh 80,000.
21/01/2013: Received a loan of Ksh 100,000 in cash from KK financers.
25/01/2013: Deposited cash amount of Ksh 80,000 into the bank account.
30/01/2013: Purchased more Fixtures & Fittings by cheque worth Ksh 30,000.

  

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Kavungya answered the question on August 17, 2021 at 07:35

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