Listed on the right are some of the balances, at close of business on 31 May 2012, in the books of MEL. VAT has been calculated to the nearest pound at 17.5%.

Following transactions took place on 1 June 2012:

(a) Sales invoices issued

(b) Purchase invoices received

(c) Credit note issued

(d) Payments made:

(cash purchases includes VAT £203)

(e) Cash receipts:

Required:

(a) Open the account with appropriate balances at commencement of 1 June 2012.

(b) Enter each transaction in appropriate books of prime entry.

(c) Post the transactions.

(d) Prepare a list of balances in the relevant accounts after you have posted the transactions.

Transcribed Image Text:

Autoparts Ltd Salfords Stores Ltd Motormania Other customers Total £ 5,492 3,396 6,156 22,696 37,740 VAT Net £ £ 818 4,674 506 2,890 917 5,239 3,380 19,316 5,621 32,119 Customers: Autoparts Ltd Salfords Stores Ltd Motormania Other customers Suppliers: Carmart Imports Ltd Lombard Products Ltd Lucas and Co. Other suppliers Cash Book VAT account Dr £ 24,617 41,561 27,124 627,341 4,120 Cr لها 28,413 56,987 33,792 492,853 71,089