1 You are required to open the asset and liability and capital accounts and record the following
transactions for June 2008 in the records of P Bernard:
2008
June 1 Started business with £12,000 in cash.
2 Paid £11,700 of the opening cash into a bank account for the business.
5 Bought office furniture on credit from Dream Ltd for £1,900.
8 Bought a van paying by cheque £5,250.
12 Bought equipment from Pearce & Sons on credit £2,300.
18 Returned faulty office furniture costing £120 to Dream Ltd.
25 Sold some of the equipment for £200 cash.
26 Paid amount owing to Dream Ltd £1,780 by cheque.
28 Took £130 out of the bank and added to cash.
30 F Brown lent us £4,000 – giving us the money by cheque.