Cameron Findlay opens his fishing tackle shop on 1 June 20X8. During that month he makes the following business transactions: (a) paid $1,500 into a business bank account (b) paid one month’s rent of $230 (c) purchased rods for $420, by cheque (d) purchased nets for $180, by cheque (e) sold some of the rods for $240 cash (f) purchased live bait for $10, by cheque (g) sold live bait for $16 (h) purchased flies for $80, by cheque (i) paid shop assistant’s wages of $95 (j) sold some of the flies for $50 (k) paid sundry expenses of $10. Required: Record the above transactions in the following ledger accounts (T – Account) and prepare the trial balance.
Cameron Findlay opens his fishing tackle shop on 1 June 20X8. During that month he makes the following business transactions:
(a) paid $1,500 into a business bank account
(b) paid one month’s rent of $230
(c) purchased rods for $420, by cheque
(d) purchased nets for $180, by cheque
(e) sold some of the rods for $240 cash
(f) purchased live bait for $10, by cheque
(g) sold live bait for $16
(h) purchased flies for $80, by cheque
(i) paid shop assistant’s wages of $95
(j) sold some of the flies for $50
(k) paid sundry expenses of $10.
Required:
Record the above transactions in the following ledger accounts (T – Account) and prepare the
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