3. You are to enter up the necessary accounts for the month of May from the following detailsand then balance off the accounts and extract a trial balance as at 31 May 20192019May 1May 2Started firm with capital in cash of $250Bought goods on credit from the following persons: D Ellis, $54; C. Mendez $87; K.Gibson $24; D. Booth $76; L. Lowe $ 64May 4May 6Sold goods on credit to: C. Bailey $43; B. Hughes $62; H. Spencer $176Paid rent by cash $12May 9Bailey paid us his account by cheque $43May 10 H. Spencer paid us by $150 by chequeMay 12 We paid the following by cheque: K. Gibson $25; D. Ellis $54May 15 Paid carriage by cash $23May 18 Bought goods on credit from C. Mendez $43; D. Booth $110May 21 Sold goods on credit to B. Hughes $67May 31 Paid rent by cheque $18

A trial balance's main function is to confirm that the entries in a firm's accounting system are…

Answered: 3. You are to enter up the necessary…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Jan 1 - Ms Gutierrez invested the following: Bank deposit with Banco De Oro, 850,000: Merchandise with net realizable value of 250,000 and Transportation Equipment with fair market value of 1,800,000
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Question: Prepare the Journal Entries, General Ledger, Adjusted Trial Balance
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Can you help me create a trial balance and balance sheet please for the following information
c) Roberts, a sole trader, has the following transactions for the month of June 2019. 2019 GHS June 1 June 5 Purchased goods on credit from Frank Sold goods on credit to Gifty Bought goods on credit from Ohemaa Returned goods to Frank Sold goods to Stephen Goods retuned by Gifty Goods returned by Stephen 42 65 June 9 24 June 12 12 June 15 81 June 21 24 June 25 33 You are required to do the following: Prepare the relevant Day books for Roberts for June.
Current Attempt in Progress Presented below is information related to Sheridan Company for its first month of operations. Jan. 06 Jan. 10 Jan. 23 Balance of Credit Purchases Gorst Company Tian Company Accounts Payable $9,000 11,800 Maddox Company 12,300 $ Gorst Company Jan. 11 Determine the balances that appear in the accounts payable subsidiary ledger. What Accounts Payable balance appears in the general ledger at the end of January? $ Jan. 16 Jan. 29 Cash Paid Gorst Company Tian Company Maddox Company Subsidary Ledger Tian Company 69 $6,800 11,800 7,400 $ Maddox Company $ General Ledge

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