The following accounts appear in Ben Hallidays general ledger (the dates of the transactions have been omitted).
Question:
The following accounts appear in Ben Halliday’s general ledger (the dates of the transactions have been omitted).
Required
a) Close down the relevant accounts in Ben’s general ledger.
b) Show how these entries would appear in the appropriate final accounts and balance sheet.
Transcribed Image Text:
Dr Bank Dr Dr Cash Cash Dr Cash Bank Cash Premises account 125,000 Sales account Discount allowed account 124 64 Cr Sales day book 3,729 Sales day book 4,516 Sales day book 7,819 Cr Insurance account 254 2,440 120 Dr Purchases day book 1,320 Purchases day book 4,581 Purchases day book 1,007 Dr Bank Bank Bank Cr Dr Cr Dr Purchases account Bank Bank Rent payable account 150 150 150 Purchase returns account Cr Purchases returns day book 43 Purchases returns day book 51 Cr Vehicles account 25,690 18,450 Cr
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a Closing Down the Relevant Accounts Premises Account No closing required as its a nontemporary acco...View the full answer
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