Answer:
Seeing the problem we have, it's understood we have to pass <em>journal entries.</em>
Explanation:
<u><em> In the books of Smith Ltd.</em></u>
<em>(f) </em>Drawings A/C Dr.
To Purchases A/C
(TV purchased for Smith's personal use, assuming it as a credit purchase)
<em>(g)</em> Dividends payable A/C Dr. $ 4,000
To Cash A/C $ 4,000
(Cash dividend paid to Smith)
<em>(h)</em> Purchases A/C Dr. $ 1,200
To Creditor's A/C $ 1,200
(Office supplies purchased on account i.e. on credit)
<em>(i)</em> Bank A/C Dr. $ 62,000
To Bank loan A/C $ 62,000
(Bank borrowings made for use in the business)
<em>(j)</em> Bank A/C Dr. $ 12,000
To share application and allotment A/C $ 12,000
(Shares issued to a stockholder)
Total $ 79,200 $ 79,200