Record the following transactions for the month of January of a small finishing retailer, balance-off all the
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Record the following transactions for the month of January of a small finishing retailer, balance-off all the accounts, and then extract a trial balance as at 31 January 2012.
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2012 Jan 1 Started in business with 10,500 cash. 2 Put 9,000 of the cash into a bank account. 3 Bought goods for cash 550. 4 Bought goods on credit from: T. Dry 800; F. Hood 930; M. Smith 160; G. Low 510. 5 Bought stationery on credit from Buttons Ltd 89. 6 Sold goods on credit to: R. Tong 170; L. Fish 240; M. Singh 326; A. Tom 204. 8 Paid rent by cheque 220. 10 Bought fixtures on credit from Chiefs Ltd 610. 11 Paid salaries in cash 790. 14 Returned goods to: F. Hood 30; M. Smith 42. 15 Bought van by cheque 6,500. 16 Received loan from B. Barclay by cheque 2,000. 18 Goods returned to us by: R. Tong 5; M. Singh 20. 21 Cash sales 145. 24 Sold goods on credit to: L. Fish 130; A. Tom 410; R. Pleat 158. 26 We paid the following by cheque: F. Hood 900; M. Smith 118. Received cheques from: R. Pleat 158; L. Fish 370. 29 30 Received a further loan from B. Barclay by cash 500. 30 Received 614 cash from A. Tom.
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Related Book For
Frank Woods Business Accounting
ISBN: 9780273759287
12th Edition
Authors: Frank Wood. Sangster, Alan
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