On 1 March 2017, James Taylor decided to open Taylors Tailormade that makes suits, trousers and jackets,

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On 1 March 2017, James Taylor decided to open Taylor’s Tailormade that makes suits, trousers and jackets, and repairs and alters clothes. He contributed for this purpose sewing equipment $46 000 and a commercial van $48 000, and deposited $10 000 cash in a business bank account. Transactions during March were as follows (ignore GST).

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(a) Prepare three‐column running balance ledger accounts. Give each account a suitable account number.

(b) Prepare a trial balance as at 31 March 2019.

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Financial Accounting

ISBN: 9780730363217

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield

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