Aboagye Mensah started business on January 1, 2009 with a capital of GHE16,000.The following transactions were camied out during the morth of JanuaryPurchased fumiture by cash GHe2400.Purchased stationery GH200 cash.Purchased goods by cash GH3,500.Purchased goods on credit Adoa GHE5.000.Sold goods for cash GHe6.000.Sold goods to Kwame on credit GHe2.400.Paid advertisement expenses Ghe200 cash.Januaryt315182025Paid Adjoa GH3,500 cash being part of settlements of goodspurchasedPaid rent in cash GH300Paid salaries and wages GHg600 cashYou are requinred to write up Ledger Accounts recording the above transactions and extract2831a Trial Balance

The trial balance is prepared from the T-accounts of the business and further financial statements…

Aboagye Mensah started business on January 1, 2009 with a capital of GHE16.000. The folowing transactions were camied out during the month of January Purchased fumiture by cash GH2400 Purchased stationery GH200 cash Purchased goods by cash G3.500. Purchased goods on credt Adoa GHeS.000 Sold goods for cash GHe.000 Sold goods to Kwame on oredt GH2.400 Paid advertisement expenses Gh200 cash Januaryt 15 10 20 25 Paid Adpe GH.500 cash being part of setements of goods purchased Paid rent in cash GH300 Paid salares and wages GHgt00 cash You are red o wte p Ledger Accounts reconding the above transactions and edract 28 31 Tral Balance

Aboagye Mensah started business on January 1, 2009 with a capital of GHE16.000. The folowing transactions were camied out during the month of January Purchased fumiture by cash GH2400 Purchased stationery GH200 cash Purchased goods by cash G3.500. Purchased goods on credt Adoa GHeS.000 Sold goods for cash GHe.000 Sold goods to Kwame on oredt GH2.400 Paid advertisement expenses Gh200 cash Januaryt 15 10 20 25 Paid Adpe GH.500 cash being part of setements of goods purchased Paid rent in cash GH300 Paid salares and wages GHgt00 cash You are red o wte p Ledger Accounts reconding the above transactions and edract 28 31 Tral Balance

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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