You are to prepare a set of exemplar financial reports, which the trainee accountants can place in
Question:
You are to prepare a set of exemplar financial reports, which the trainee accountants can place in the file
and use for reference.
1.use appropriate books of original entry and double entry accounts to extract a trial balance from
the details contained in Appendix 1.
Appendix 1
Use appropriate books of original entry and double entry account to extract a Trial Balance from the
following details for the month of January:
January 1 – Started business with £20 000 in the bank
January 2 – Bought goods on credit from the following:
o K Smith £75
o M Zainab £22
o T Doggart £58
January 5 Cash sales £187
January 6 Paid wages in cash £254.
January 7 Sold goods on credit to:
o H Maclean £35
o L Rory £42
o J Gardener £72
January 9 Bought goods for cash £259
January 10 Bought goods on credit from:
o M Zainab £57
o T Doggart £98.
January 12 Paid wages in cash £314
January 13 Sold goods on credit to:
o L Rory £32
o J Gardener £23
January 15 Bought shop fixtures on credit from Store Ltd £2 550
January 17 Paid M Zainab by cheque £67
January 18 We returned goods to T Doggart £20
January 21 Paid Store Ltd a cheque for £550
January 27 We returned goods to K Smith £12
January 30 Kettle and Co Ltd lent us £6 000 in cash
January 31 Bought a motor van paying by cheque £4 000.
Cost Accounting A Managerial Emphasis
ISBN: 978-0133138443
7th Canadian Edition
Authors: Srikant M. Datar, Madhav V. Rajan, Charles T. Horngren, Louis Beaubien, Chris Graham