May 1 Assets: Premises $2000, Motor Van &450, Fixtures $600, Stock $1289, Debtors N Hardy $40, M
Question:
May 1 Assets: Premises $2000, Motor Van &450, Fixtures $600, Stock $1289, Debtors N Hardy $40, M Nelson $180, Cash at bank $1254, Cash in hand $45.
Liabilities: Creditors B Blake $60, V Reagan $200
May 1 Paid rent by cheque $15
May 2 Goods bought on credit from B Blake $20, C Harris $56, M Benjamin $78, L Staines $98, N Duffy $48, N Lee $69
May 3 Goods Sold on credit to; K O"Connor $56, M Benjamin $78, L Staines $98, N Duffy $48,B Green $118,M Nelson $40
May 4 Paid for motor expenses in cash $13
May 7 Paid drawings by proprietor $20
May 9 Goods sold on credit to ; M Benjamin $22, L Pearson $67
May 11 Goods returned to Mullings by: K O"Connor $16, L Stanes $18
May 14 Bought another motor van on credit from Better Motors Ltd $300
May 16 The following paid Mullings their accounts by cheque less 5% cash discount; N Hardy, M Nelson, K O"Connor, L Staines
May 19 Goods returned by Millings to N Lee $9
May 22 Goods bought on credit from; J Johnson $89, T Best $72
May 24 The following accounts were settled by Mullings by cheque less 5% cash discount; B Blake, V Reagan,N Lee
May 27 Salaries paid by cheque $56
May 30 Paid rates by cheque $66
May 31 Paid Better Motors Ltd a cheque for $300
Required
a) Post these to a Three Column Cash Book, Ledgers and Balance off Accounts
b) A Trial balance is to be extracted as at 30 May 2019
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill