Record the following transactions in the appropriate ledgers of TRY ME LIMITED and extract a Trial...

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Record the following transactions in the appropriate ledgers of TRY ME LIMITED and extract a Trial Balance as at 31/12/2020 December 1 Deposited an amount of GHS500,000 into a business bank account (2 Marks) Bought office furniture for GHS 100,000 paying by cheque (2 Marks) Bought motor vehicle from Rana Motors on credit for GHS 75,000 (2 Marks) Bought goods for resale for GHS150,000 paying by cheque (2 Marks) Cash Sales GHS 200,000 (2 Marks) December 2 December 3 December 4 December 5 December 6 December 7 December 8 December 9 December 10 Paid salary of shop assistant by cash GHS 3,500 (2 Marks) Paid part of amount due Rana Motors GHS 40,000 by cheque (2 Marks) Paid insurance on the motor vehicle by cash GHS 7,000 (2 Marks) Paid rent by cheque and GHS 30,000 (2 Marks) Bought goods for resale for GHS 80,000 paying by cheque (2 Marks) Note-Trial Balance carries 5 Marks Record the following transactions in the appropriate ledgers of TRY ME LIMITED and extract a Trial Balance as at 31/12/2020 December 1 Deposited an amount of GHS500,000 into a business bank account (2 Marks) Bought office furniture for GHS 100,000 paying by cheque (2 Marks) Bought motor vehicle from Rana Motors on credit for GHS 75,000 (2 Marks) Bought goods for resale for GHS150,000 paying by cheque (2 Marks) Cash Sales GHS 200,000 (2 Marks) December 2 December 3 December 4 December 5 December 6 December 7 December 8 December 9 December 10 Paid salary of shop assistant by cash GHS 3,500 (2 Marks) Paid part of amount due Rana Motors GHS 40,000 by cheque (2 Marks) Paid insurance on the motor vehicle by cash GHS 7,000 (2 Marks) Paid rent by cheque and GHS 30,000 (2 Marks) Bought goods for resale for GHS 80,000 paying by cheque (2 Marks) Note-Trial Balance carries 5 Marks

Answer rating: 100% (QA)

To record the transactions in the appropriate ledgers of TRY ME LIMITED we will use the following accounts 1 Cash 2 Bank 3 Office Furniture 4 Motor Ve... View the full answer