3. You are to enter up the necessary accounts for the month of May from the following details and then balance off the accounts and extract a trial balance as at 31 May 2019 2019 May 1 Started firm with capital in cash of $250 May 2 Bought goods on credit from the following persons: D Ellis, $54; C. Mendez $87; K. Gibson $24; D. Booth $76; L. Lowe $ 64 May 4 May 6 May 9 Sold goods on credit to: C. Bailey $43; B. Hughes $62; H. Spencer $176 Paid rent by cash $12 Bailey paid us his account by cheque $43 May 10 H. Spencer paid us by $150 by cheque May 12 We paid the following by cheque: K. Gibson $25; D. Ellis $54 May 15 Paid carriage by cash $23 May 18 Bought goods on credit from C. Mendez $43; D. Booth $110 May 21 Sold goods on credit to B. Hughes $67 May 31 Paid rent by cheque $18
3. You are to enter up the necessary accounts for the month of May from the following details and then balance off the accounts and extract a trial balance as at 31 May 2019 2019 May 1 Started firm with capital in cash of $250 May 2 Bought goods on credit from the following persons: D Ellis, $54; C. Mendez $87; K. Gibson $24; D. Booth $76; L. Lowe $ 64 May 4 May 6 May 9 Sold goods on credit to: C. Bailey $43; B. Hughes $62; H. Spencer $176 Paid rent by cash $12 Bailey paid us his account by cheque $43 May 10 H. Spencer paid us by $150 by cheque May 12 We paid the following by cheque: K. Gibson $25; D. Ellis $54 May 15 Paid carriage by cash $23 May 18 Bought goods on credit from C. Mendez $43; D. Booth $110 May 21 Sold goods on credit to B. Hughes $67 May 31 Paid rent by cheque $18
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:3. You are to enter up the necessary accounts for the month of May from the following details
and then balance off the accounts and extract a trial balance as at 31 May 2019
2019
May 1
May 2
Started firm with capital in cash of $250
Bought goods on credit from the following persons: D Ellis, $54; C. Mendez $87; K.
Gibson $24; D. Booth $76; L. Lowe $ 64
May 4
May 6
Sold goods on credit to: C. Bailey $43; B. Hughes $62; H. Spencer $176
Paid rent by cash $12
May 9
Bailey paid us his account by cheque $43
May 10 H. Spencer paid us by $150 by cheque
May 12 We paid the following by cheque: K. Gibson $25; D. Ellis $54
May 15 Paid carriage by cash $23
May 18 Bought goods on credit from C. Mendez $43; D. Booth $110
May 21 Sold goods on credit to B. Hughes $67
May 31 Paid rent by cheque $18
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