Question: Hello can i please get some help with my coursework? May 1 Started the business with $40,000 in the bank and motor van $60,000 May

Hello can i please get some help with my coursework?

Hello can i please get some help with my coursework? May 1

May 1 Started the business with $40,000 in the bank and motor van $60,000 May 4 Bought merchandise for $35,000 on credit from Maynard Distributors May 5 Sold merchandise for $20,000 on credit to N Bell May 12 Sold merchandise $20,000 by cheque May 18 Returned merchandise $6,000 to Maynard Distributors May 20 Bought furniture $5,000 cheque May 21 Sold merchandise $32,000 on credit to Bongo Natty May 22 Bought merchandise $25,000 on credit from Kings World May 25 Paid for office expenses $7,000 by cheque May 26 Paid wages $35,000 by cheque May 27 Received $20,000 by cheque from N Bell May 28 Took merchandise amounting to $15,000 for personal use Requirements: A. Enter the transactions in the general ledger (t-accounts), and balance off these accounts (15 marks) (5 marks) B. Extract a Trial Balance

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!