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Boris  Gardner  started  a  CD  distribution  business, by investing part of his Heineken      Startime earnings. On  September  1, 2009 he  had the following  items                           Fixtures  and Fittings       30,000                         Equipment                        25,000                         Motor  Van                    120,000                         Stock of Goods              100,000                         Bank                                   5,000       The  business  was  financed   at  40%  by  a  loan  from  an investment  bank. Use  a         general  journal  to illustrate  the  opening entries of the  business.

Boris  Gardner  started  a  CD  distribution  business, by investing part of his Heineken      Startime earnings. On  September  1, 2009 he  had the following  items                           Fixtures  and Fittings       30,000                         Equipment                        25,000                         Motor  Van                    120,000                         Stock of Goods              100,000                         Bank                                   5,000       The  business  was  financed   at  40%  by  a  loan  from  an investment  bank. Use  a         general  journal  to illustrate  the  opening entries of the  business.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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. Boris  Gardner  started  a  CD  distribution  business, by investing part of his Heineken 

    Startime earnings. On  September  1, 2009 he  had the following  items

 

                        Fixtures  and Fittings       30,000

                        Equipment                        25,000

                        Motor  Van                    120,000

                        Stock of Goods              100,000

                        Bank                                   5,000

 

    The  business  was  financed   at  40%  by  a  loan  from  an investment  bank. Use  a    

    general  journal  to illustrate  the  opening entries of the  business.

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