Musa Alabi started business with a capital of $ 1 0 0 , 0 0 0 on
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Question:
Musa Alabi started business with a capital of $ on January The following information was provided as his transactions for the month of January, :
Jan: He purchased goods on credit from Matama $
Jan: He paid cash to Matama receiving a cash discount of
Jan: He sold goods to Samuel
Jan: He received cash payment from Samuel less cash discount
Jan: He further purchased goods from MatamaA
Jan: He paid cash to Matama $
Jan: Paid Rent by Cash N
Jan: Sold goods for cash to Imabong $
Jan: He received cash from Imabong
Jan: Purchases a Motor Van for the business from Aliko Motors on credit at N
Required:
a Write up the relevant books of accounts affected
b Post the transactions to relevant accounts
c Extract a trial balance as at January
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: