Nominal Ledger opening balances as at August 1st 2021 Bank 10,000 Van 15,000 Fixtures and
Question:
Nominal Ledger opening balances as at August 1st 2021
£ £
Bank 10,000
Van 15,000
Fixtures and fittings 6,000
irrecoverable debts 1,000
Trade Receivables 2,000
Purchases 18,000
Sales 25,000
Trade Payables 4,000
Capital 23,000
Bob classifies his sales as either computer sales, printer sales or 'other sales'. Other sales are items such as software, paper, keyboards etc.
August 2021 Transactions
August 1st 2021 | £ |
| 50000.00 30000.00 6000.00 |
August 2nd | |
| 100.00 1280.60 3,000 |
August 3rd | |
Purchased desks, chairs and filing cabinets for the office from Office Supplies Ltd | 4631.20 |
Made the following payments by cheque
| 150.00 423.05 1558.32 1200.00 |
August 4th | |
| 1534.00 232.00 |
August 5th | £ |
Supplier 1 Supplier 2 | 9472.00 3473.66 |
August 6th
Sale of other to customer 1 Sale of other to customer 2 Sale of printers to customer 3 | 700.00 800.00 250.00 |
August 8th
Sale of other to customer 5 Sale of printers to customer 4 | 108.10 286.35 |
August 9th | |
Sale of other to customer 1 Sale of computers to customer 6 Sale of computers to customer 2 | 115.00 1311.00 4222.80 |
August 10th | |
| 575.00 |
August 11th
| 115.00 |
August 12th | |
| 58.00 85.03 |
August 13th | |
| 456.30 |
August 14th
| 230.00 |
August 16th | |
| 18.00 150.00 400.00 |
August 17th | |
Printers Other
| 384.23 34.50 2831.30August 18th |
August 18th | |
Supplier 3 Supplier 4 Supplier 1 Supplier 4
| 452.00 650.00 400.00 387.00 103.50 |
August 20th
| 5000.00 |
August 22nd | |
Supplier 3 Supplier 5
| 723.00 615.00 9472.00 100.00 286.35 |
August 23rd | |
| 50.00 108.10 730.25 853.30 |
August 24th
| 776.25 |
August 25th
| 67.87 345.00 |
August 26th
| 85.0 |
Required:
1. Record the above transactions in the books of original entry (day books) and from there make the relevant entries in the ledgers (nominal, sales and purchases) that you consider Kenny should keep (ignore VAT). Do not forget the opening balances in the nominal ledger.
Accounting What the Numbers Mean
ISBN: 978-0078025297
10th edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele