1. The following data was obtained from the books of The January 1 Bal bid Totals for the year Cash sales Cash purchases Sales returns Purchases returns Discount allowed Discounts received Bad debts Debtors Dr 45,000 Creditors Dr 3,900 Refund to credit customers Refund from credit suppliers Payments to creditors Receipts from debtors Dishonoured cheques Dec 31 Bal od 70,000 40,000 5,000 2,500 700 1,200 2,700 1,100 3,000 39,000 65,000 7,000 Green Lantern for the year 2013: Cr 1,200 Cr 25,000 Debtors Dr 100 Cr 98.600 Creditors Dr 77,300 Cr 900 Write up the SLCA and the PLCA, clearly showing the amounts for credit sales and credit purchases for the year.
1. The following data was obtained from the books of The January 1 Bal bid Totals for the year Cash sales Cash purchases Sales returns Purchases returns Discount allowed Discounts received Bad debts Debtors Dr 45,000 Creditors Dr 3,900 Refund to credit customers Refund from credit suppliers Payments to creditors Receipts from debtors Dishonoured cheques Dec 31 Bal od 70,000 40,000 5,000 2,500 700 1,200 2,700 1,100 3,000 39,000 65,000 7,000 Green Lantern for the year 2013: Cr 1,200 Cr 25,000 Debtors Dr 100 Cr 98.600 Creditors Dr 77,300 Cr 900 Write up the SLCA and the PLCA, clearly showing the amounts for credit sales and credit purchases for the year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Qq.16.
Transcribed Image Text:1. The following data was obtained from the books of The Green Lantern for the year 2013:
January 1
Bal b/d
Debtors Dr 45,000
Creditors
Dr 45,000 Cr 1,200
Dr 3,900 Cr 25,000
Totals for the year
Cash sales
Cash purchases
Sales returns
Purchases returns
Discount allowed
Discounts received
Bad debts
Refund to credit customers
Refund from credit suppliers
Payments to creditors
Receipts from debtors
Dishonoured cheques
Dec 31
Bal c/d
70,000
40,000
5,000
2,500
700
1,200
2,700
1,100
3,000
39,000
65,000
7,000
Debtors De 100
Creditors Dr 77,300
Cr 98,600
Cr 900
Write up the SLCA and the PLCA, clearly showing the amounts for credit sales and
credit purchases for the year.
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