6.4A Record the following transactions for the month of January of a small finishing retailer,balance-off all the accounts, and then extract a trial balance as at 30 June.June 1 Started in business with £10,500 cash.23456810Bought fixtures on time from Chiefs Ltd £610.Paid salaries in cash £790.1114Returned goods to: F. Hood £30; M. Smith £42.15 Bought van by cheque £6,500.Received loan from B. Barclay by cheque £2,000.Goods returned to us by: R. Tong £5; M. Singh £20.Cash sales £145.1618212426Put £9,000 of the cash into a bank account.Bought goods for cash £550.Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510.Bought stationery on time from Buttons Ltd £89.Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204.Paid rent by cheque £220.293030Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158.We paid the following by cheque: F. Hood £900; M. Smith £118.Received cheques from: R. Pleat £158; L. Fish £370.Received a further loan from B. Barclay by cash £500.Received £614 cash from A. Tom.

Name: 6.4A Record the following transactions for the month of January of a
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Description: 6.4A Record the following transactions for the month of January of a small finishing retailer,balance-off all the accounts, and then extract a trial balance as at 30 June.June 1 Started in business with £10,500 cash.23456810Bought fixtures on time f

Trial balanceA trial balance is a financial record where the totals of all ledger accounts, both in…

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6.4A Record the following transactions for the month of January of a small finishing retailer, balance-off all the accounts, and then extract a trial balance as at 30 June. Started in business with £10,500 cash. Put £9,000 of the cash into a bank account. Bought goods for cash £550. 3 4 Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510. Bought stationery on time from Buttons Ltd £89. 5 6 Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204. Paid rent by cheque £220. Bought fixtures on time from Chiefs Ltd £610. Paid salaries in cash £790. June 1 2 8 10 11 14 Returned goods to: F. Hood £30; M. Smith £42. Bought van by cheque £6,500. 15 16 Received loan from B. Barclay by cheque £2,000. Goods returned to us by: R. Tong £5; M. Singh £20. Cash sales £145. 18 Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158. We paid the following by cheque: F. Hood £900; M. Smith £118. Received cheques from: R. Pleat £158; L. Fish £370. Received a further loan from B. Barclay by cash £500. Received £614 cash from A. Tom. 21 24 26 29 30 30

6.4A Record the following transactions for the month of January of a small finishing retailer, balance-off all the accounts, and then extract a trial balance as at 30 June. Started in business with £10,500 cash. Put £9,000 of the cash into a bank account. Bought goods for cash £550. 3 4 Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510. Bought stationery on time from Buttons Ltd £89. 5 6 Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204. Paid rent by cheque £220. Bought fixtures on time from Chiefs Ltd £610. Paid salaries in cash £790. June 1 2 8 10 11 14 Returned goods to: F. Hood £30; M. Smith £42. Bought van by cheque £6,500. 15 16 Received loan from B. Barclay by cheque £2,000. Goods returned to us by: R. Tong £5; M. Singh £20. Cash sales £145. 18 Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158. We paid the following by cheque: F. Hood £900; M. Smith £118. Received cheques from: R. Pleat £158; L. Fish £370. Received a further loan from B. Barclay by cash £500. Received £614 cash from A. Tom. 21 24 26 29 30 30

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 6E: Record the following transactions in general journal form for Ford Education Outfitters and Romero...

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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6.4A Record the following transactions for the month of January of a small finishing retailer,
balance-off all the accounts, and then extract a trial balance as at 30 June.
June 1 Started in business with £10,500 cash.
2
3
4
5
6
8
10
Bought fixtures on time from Chiefs Ltd £610.
Paid salaries in cash £790.
11
14
Returned goods to: F. Hood £30; M. Smith £42.
15 Bought van by cheque £6,500.
Received loan from B. Barclay by cheque £2,000.
Goods returned to us by: R. Tong £5; M. Singh £20.
Cash sales £145.
16
18
21
24
26
Put £9,000 of the cash into a bank account.
Bought goods for cash £550.
Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510.
Bought stationery on time from Buttons Ltd £89.
Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204.
Paid rent by cheque £220.
29
30
30
Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158.
We paid the following by cheque: F. Hood £900; M. Smith £118.
Received cheques from: R. Pleat £158; L. Fish £370.
Received a further loan from B. Barclay by cash £500.
Received £614 cash from A. Tom.

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