Question: Journalise the following business transactions in general journal form. Identify
each transaction by number. All entries must include a narration. (30 marks)
1. Shareholders invest $35,000 in cash in starting a real estate office operating as a
2. Purchased $400 of office supplies on credit.
3. Purchased office equipment for $6,000, paying $2,500 in cash and the remainder of
$3,500 on credit.
4. Real estate commissions invoiced to clients amount to $4,000.
5. Paid $700 in cash for the current month's rent.
6. Paid $200 cash on account for office supplies purchased in transaction 2.
7. Received an account for $500 for advertising for the current month.
8. Paid $2,200 cash for office salaries.
9. Paid $1,200 cash dividends to shareholders.
10. Received a cheque for $3,000 from a client in payment on account for commissions
invoiced in transaction 4. Edit
TutorTeddy.com & Boston Predictive Analytics
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Boston Office (Near MIT/Kendall 'T'):
Cambridge Innovation Center,
One Broadway, 14th Floor,
Cambridge, MA 02142,
Dallas Office (Near Galleria):
15950 Dallas Parkway,
Dallas, TX 75248,