Show the ledger entries for the following transactions: (a) F. Lintstone invests $150,000 in a business known as Dino’s Den. (b) The business borrows a further $50,000 from the bank. (c) The business purchases plant and equipment for $30,000, and a vehicle for $20,000. (d) It purchases inventory for $50,000 on credit. (e) It pays rent of $3,000. (f) It sells inventory that had cost $10,000 for $16,000 cash. (g) It pays creditors $20,000. (h) It pays wages of $1,200. (i) F. Lintstone takes out $2,000 for his own use.

Cash Capital 150,000 Plant and equipment 30,000 Loan 50,000 Vehicles 20,000 Sales 16,000 Rent 3,000 Payables (creditors) 20,000 Wages 1,200 Drawings 2,000 _________ Balance c/d 139,200 [latex]\underline{\underline{216,000} } [/latex] [latex]\underline{\underline{216,000} } [/latex] 139,200 Capital Cash 150,000 Loan Cash 50,000 Plant and equipment Cash 30,000 Vehicles Cash 20,000 Inventory Payables 50,000 Cost of sales 10,000 Balance c/d 40,000 [latex]\underline{\underline{50,000} } [/latex] [latex]\underline{\underline{50,000} } [/latex] Balance c/d 40,000 Payables Cash 20,000 Inventory 50,000 Balance c/d 30,000 [latex]\underline{\underline{50,000} } [/latex] [latex]\underline{\underline{50,000} } [/latex] Balance b/d 30,000 Rent Cash 3,000 Cost of sales Inventory 10,000 Sales Cash 16,000 Wages Cash 1,200 Drawings Cash 2,000

Question 4.A.4: Show the ledger entries for the following transactions: (a) ...

Accounting for Business Students

Show the ledger entries for the following transactions:

(a) F. Lintstone invests $150,000 in a business known as Dino’s Den.

(b) The business borrows a further $50,000 from the bank.

(d) It purchases inventory for $50,000 on credit.

(e) It pays rent of $3,000.

(f) It sells inventory that had cost $10,000 for $16,000 cash.

(g) It pays creditors $20,000.

(h) It pays wages of $1,200.

(i) F. Lintstone takes out $2,000 for his own use.

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Cash
Capital	150,000	Plant and equipment	30,000
Loan	50,000	Vehicles	20,000
Sales	16,000	Rent	3,000
		Payables (creditors)	20,000
		Wages	1,200
		Drawings	2,000
	_________	Balance c/d	139,200
	$\underline{\underline{216,000} }$		$\underline{\underline{216,000} }$
	139,200
Capital
		Cash	150,000
Loan
		Cash	50,000
Plant and equipment
Cash	30,000
Vehicles
Cash	20,000
Inventory
Payables	50,000	Cost of sales	10,000
		Balance c/d	40,000
	$\underline{\underline{50,000} }$		$\underline{\underline{50,000} }$
Balance c/d	40,000
Payables
Cash	20,000	Inventory	50,000
Balance c/d	30,000
	$\underline{\underline{50,000} }$		$\underline{\underline{50,000} }$
		Balance b/d	30,000
Rent
Cash	3,000
Cost of sales
Inventory	10,000
Sales
		Cash	16,000
Wages
Cash	1,200
Drawings
Cash	2,000