Answer Happy

2. Open accounts in an accounting equation and perform a transaction analysis with the information provided.
Transactions for the financial year 20X0 to 20x1 14-July 16-September Paid for Research and Development 42,100 by way of electronic transfer. Paid the wages of 190,000. 22-October Received 38,000 from customers who previously purchased goods on credit. Sold office equipment for 95,000 on account. 22-November 21-December Paid of part of the loan, 86,400. 19-January The owner withdrew 250,000 as a salary for his personal use. 14-February Sold products costing 640,000 for 790,000 on account. 28-March Purchased supplies costing 17,500 on credit. 29-April Paid the Account Payable that was owing at the beginning of the Financial Year. 15-June Sold products costing 628,000 were sold for 953,200 and received cash.
Account balances at the end of June 20x0: Accounts Payable Accounts Receivable Capital Cash at Bank Computer Equipment Inventory Loan (Payable in 5 years) Supplies 122,000 79,600 ? 623,000 72,000 385,200 1,808,000 202,600 64,000