1 January Grigory paid $5,000 into the business 2 January Bought a motor van for $600 on credit 3 January Bought goods for $1,300 on credit 4 January Received a loan from Sergei $1,000 repayable within twelve months 10 January Paid expenses on the motor van of $200 13 January Sold goods for $300 on credit 20 January Sold goods for $500 by cash 24 January Accrued storage expenses $150 27 January Repaid Sergei part of his loan $350 31 January Closing inventory was $800 Required Prepare: (iii) a trial balance; (iv) a statement of profit or loss (income statement) for the year to date; (v) a statement of financial position (balance sheet).
1 January Grigory paid $5,000 into the business
2 January Bought a motor van for $600 on credit
3 January Bought goods for $1,300 on credit
4 January Received a loan from Sergei $1,000 repayable within twelve months
10 January Paid expenses on the motor van of $200
13 January Sold goods for $300 on credit
20 January Sold goods for $500 by cash
24 January Accrued storage expenses $150
27 January Repaid Sergei part of his loan $350
31 January Closing inventory was $800
Required
Prepare:
(iii) a
(iv) a statement of profit or loss (income statement) for the year to date;
(v) a
BUT WE HAVE COMPLETED ONLY 8 CAHPTERS IN PRINCIPLES OF ACCOUNTING BY Marian Powers, Susan V Crosson, Belverd E Needles, so assuming this information we have to create general journal
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