Pearce & Sons started Business in Feb 2020 have the following transactions for the month of Feb
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Question:
2020 Feb 1 Started business with; £21,500 in the bank account, a van £25,000 and office fixtures £800
2 A loan of £2,500 was received from Lloyds Bank.
3 The amount of £1500 was transferred from Bank Account to Cash in hand account.
4 Bought Van paying by cheque £4,800
5 Bought office fixtures £1100 on credit from Quick Office Ltd
8 Bought a new van on credit from Nissan Co. £5,200
15 Bought office fixtures paying by cash £70
19 Paid Nissan Co. a cheque for whole amount of debt
25 Paid £350 of the cash in hand into the bank account
28 Bought new office fixtures paying via bank account £620
Required:
a. Write up the transactions in the general ledger (T Accounts) of Pearce & Sons
b. Balance up the accounts and extract a Trial Balance as at 28 Feb 2019.
Related Book For
Integrated Accounting
ISBN: 978-1285462721
8th edition
Authors: Dale A. Klooster, Warren Allen, Glenn Owen
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