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.

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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

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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

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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