On 8 June 2018, E - Junior Cycle Business Studies - Question 6 - 2018
Question 6
On 8 June 2018, E. Power, a retailer, purchased equipment for €2,100 by cash. There was no VAT on these goods.
Complete the ledger accounts of E. Power showing the ... show full transcript
Worked Solution & Example Answer:On 8 June 2018, E - Junior Cycle Business Studies - Question 6 - 2018
Step 1
(i) Equipment a/c
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Answer
In the Equipment account, record the purchase:
Date
Details
€
2018 June 8
Cash/Bank a/c
2,100
Step 2
(iii) Cash/Bank a/c
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Answer
In the Cash/Bank account, record the payment:
Date
Details
€
2018 June 8
Equipment a/c
2,100
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