a) Record the following business transactions in their respective ledger accounts in the month of June...

 

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a) Record the following business transactions in their respective ledger accounts in the month of June 2000. (8 marks) i) ii) iii) iv) June 1: started business with sh 50000 in the bank June 2: bought furniture worth sh 15000 and paid by cheque June 5: purchased stock worth sh 4000 on credit from Jamii wholesalers June 10: sold stock for sh 6000 in cash to Joan. b) The following balances were extracted from the books of Frazer traders as at 31st May 2014. Sh 80,000 70,000 15,000 Loan 60,000 Required: Compute Frazer traders' capital as at 31st May 2014 Motor vehicles Plant and Machinery Creditors APPE (4 Marks) c) The following transactions relate to credit sales to customers by Kakai traders. Prepare the sales journal. (8 marks) June 1 credit sales of sh 1,800 to Michael and issued an invoice number 100 June 4 credit sales of sh 2,000 to Herbert and issued him an invoice number 101 June 7 credit sales of sh 900 to Jessica and issued invoice number 102 June 9 credit sales of sh 450 to Cecilia and issued invoice number 103 June 16 credit sales of sh 1,390 to Andrew and issued invoice number 104 June 21 credit sales of sh 380 to Richard and issued invoice number 105 June 30 credit sales of sh 500 to Albert and issued invoice number 106 a) Record the following business transactions in their respective ledger accounts in the month of June 2000. (8 marks) i) ii) iii) iv) June 1: started business with sh 50000 in the bank June 2: bought furniture worth sh 15000 and paid by cheque June 5: purchased stock worth sh 4000 on credit from Jamii wholesalers June 10: sold stock for sh 6000 in cash to Joan. b) The following balances were extracted from the books of Frazer traders as at 31st May 2014. Sh 80,000 70,000 15,000 Loan 60,000 Required: Compute Frazer traders' capital as at 31st May 2014 Motor vehicles Plant and Machinery Creditors APPE (4 Marks) c) The following transactions relate to credit sales to customers by Kakai traders. Prepare the sales journal. (8 marks) June 1 credit sales of sh 1,800 to Michael and issued an invoice number 100 June 4 credit sales of sh 2,000 to Herbert and issued him an invoice number 101 June 7 credit sales of sh 900 to Jessica and issued invoice number 102 June 9 credit sales of sh 450 to Cecilia and issued invoice number 103 June 16 credit sales of sh 1,390 to Andrew and issued invoice number 104 June 21 credit sales of sh 380 to Richard and issued invoice number 105 June 30 credit sales of sh 500 to Albert and issued invoice number 106

Answer rating: 100% (QA)

A The Ledger Accounts for June 2000 1 June 1 Bank Account Debit 50000 ... View the full answer