The accounts and balances of the LP business on the balance sheet for 31.12.2019 are as follows.

Goods stock (balance of goods stock account belongs to 40 televisions located in the warehouse of the enterprise); 92,000$, fixtures; 59,800$, cash; 156,800$, receivables; 12,000$, trade debts; 36,000$, capital; 340,000$, undistributed profits; 16,600$, Bank; 72,000$.

January 4, 2020-CHSS acquired 60 ovens from the company for a total of 90,000$. 1,800$ LP was paid to the carrier company for the transport of the goods to the enterprise by the Trading Enterprise.

January 5, 2020-LP commercial enterprise sells 30 of the televisions in its warehouse to ZRT Enterprise for 106,200$ on loan. Shipping in the amount of 1,700$ was paid by the LP business.

January 6, 2020- 4,200$ discounts were requested due to the lack of ovens received from the CHSS business. The discount request was accepted by the CHSS Enterprise.

January 11, 2020- 6 of the televisions sold to the Zrt business were returned by the Zrt business due to damage during transportation.

January 13, 2020 - Zrt has paid 57,000$ in return for its debt.

January 18, 2020 - the full debt to the CHSS business has been paid.

January 19, 2020- 50 refrigerators are purchased from the DRN business for 97,500$. The transport fee in the amount of 3,000$ was paid by the DRN Enterprise.

20 January 2020- 50 ovens were sold to KZN in advance for 91,600$. Transportation expenses in the amount of 1,000$ were paid by the LP business.

January 28, 2020- a request for a discount of 5,000$ is received from the KZN business, citing that some of the bakeries sold are not in the desired characteristics. The refund request was accepted by the LP business.

January January 31, 2020- 12,000$ January salary paid to staff working in the business

Questions

1-Make your opening record of the LP trading business.

2-Account for financial events occurring in the LP trading business.

3-Make large book records of the LP trading business.

4-Arrange the trial balance of the LP trading business dated January 31, 2020.

5-Please edit the profit and loss table for the period 01.01-31.01.2020 of the LP trading business.

6-Edit the balance sheet of the LP trading business as of January 31, 2020.

Answer rating: 100% (QA)

1 OPENING TRIAL BALANCE OF LP TRADING BUSINESS AS ON 1ST JANUARY 2020 Inventory 92000 Fixtures 59800 Cash 156800 Receivables 12000 Trade Debts 36000 Capital 340000 Undistributed profits 16600 Bank 720... View the full answer