Question: Make double entries for this question ! 2. You are to enter up the necessary accounts for the month of August from the following information
2. You are to enter up the necessary accounts for the month of August from the following information relating to a small printing firm. Then balance off the accounts and extract a trial balance as at 31 August 2021 Aug 1 2021 Started in business with $7,400 cash. Aug 2 Paid $7,000 of the opening cash into the bank. Aug 4 Bought goods on credit $410 from J Watson. Aug 5 Bought a van by cheque $4,920. Aug 7 Bought goods for cash $362. Aug 10 Sold goods on credit $218 to L Less. Aug 12 Returned goods to J Watson $42. Aug 19 Sold goods for cash $54. Aug 22 Bought fixtures on credit from Firelighters Ltd $820. Aug 24 F Holmes lent us $1,500 paying us the money by cheque. Aug 29 We paid J Watson his account by cheque $368. Aug 31 We paid Firelighters Ltd by cheque $820
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
