Vale has been in business for some years. The following balances were brought forward in his books of account as at 1 January 2020:

During the year to 31 December 2020 the following transactions took place:
1 Goods bought from Dodd on credit for £30,000.
2 Cash sales of £20,000.
3 Cash purchases of £15,000.
4 Goods sold to Fish on credit for £50,000.
5 Cheques sent to Dodd totalling £29,000.
6 Cheques received from Fish totalling £45,000.
7 Cash received from Fish amounting to £7000.
8 Office expenses paid in cash totalling £9000.
9 Purchase of delivery van costing £12,000 paid by cheque.
10 Cash transfers to bank totalling £3000.

Required
(a) Compile Vale’s ledger accounts for the year 31 December 2020, balance off the accounts and bring down the balances as at 1 January 2021.
(b) Extract a trial balance as at 31 December 2020.

Transcribed Image Text:

Bank Capital Cash Dodd Fish Furniture Dr(£) 5000 1000 6000 10000 22000 Cr(£) 20000 2000 22000