Shown on the left is the Statement of financial position of a business owned by Hilda Baker and listed below are the transactions during the next week:

Note: assume that cheques received from customers are immediately deposited in a bank.

Required:

(a) Set out the prime entry recording every transaction reported above.

(b) Post to appropriate accounts.

(c) Extract a Trial Balance as at 15 April 2010.

(d) Prepare Statements of income and financial position.

Transcribed Image Text:

Date Transaction 11.4 Deposited £5,500 in a bank 11.4 Paid £3,610 to Global Ltd by cheque no 01 11.4 Purchased on credit from Global Ltd for £3,250 11.4 Received a cheque for £2,390 from Shelly Gray 11.4 Sold goods to Hugh Soft for £1,825 and to Shelly Gray for £1,550. 12.4 Purchased goods for £1,200 from City Stores 12.4 Sold goods to Mary Bold for £1,285 12.4 Paid £275 for advertising by cheque no 02 13.4 Purchased from Global Ltd for £2,140 and from City Stores for £1,835 13.4 Sold goods to Shelly Gray for £1,125 and to Mary Bold for £975