Double Entry Principles and Striking of Trial Balance QUESTION 1. Record the following detail relating to a Carpet Retailer for the month of June 2015 and extract a trial balance as at June 30, 2015 2015 June 1 Started business with Ghc 150,000 in the bank. 3 Bought goods on credit from: Small Ghc 2,900; Brown Ghc 12,000; Rae Ghc 6,100; Charles Ghc 5,300 5 Cash sales Ghc 6,100 6 Paid rent by cheque Ghc 1,750 7 Paid business rate by cheque 1,300 11 Sold goods on credit to: Pots Ghc 850; Field Ghc 480; Gray Ghc 16,400 17 Paid wages by cash Ghc 290 18 We returned goods to: Small Ghc 180; Charles Ghc 270 19 Bought goods on credit from: Charles Ghc1,100; Rae Ghc 3,200; Jack Ghc 1,650 20 Goods returned to us by: Field Ghc 60; Pots Ghc 140 21 Bought Van on credit from German Motors Ghc 49,500 23 We pay the following by cheque Small Ghc 2,270; Brown Ghc 12,000; Rae Ghc 5,000 25 Bought another Van, paying by cheque immediately Ghc 62,000 26 Received loan of Ghc 7,500 cash from Benett 28 Received cheques from Pots Ghc 710; Field Ghc 420 30 Proprietor brings a further Ghc 9,000 into the business, a payment into the business bank account.
Double Entry Principles and Striking of
QUESTION 1.
Record the following detail relating to a Carpet Retailer for the month of June 2015 and extract a trial balance as at June 30, 2015
2015
June 1 Started business with Ghc 150,000 in the bank.
3 Bought goods on credit from: Small Ghc 2,900; Brown Ghc 12,000; Rae Ghc
6,100; Charles Ghc 5,300
5 Cash sales Ghc 6,100
6 Paid rent by cheque Ghc 1,750
7 Paid business rate by cheque 1,300
11 Sold goods on credit to: Pots Ghc 850; Field Ghc 480; Gray Ghc 16,400
17 Paid wages by cash Ghc 290
18 We returned goods to: Small Ghc 180; Charles Ghc 270
19 Bought goods on credit from: Charles Ghc1,100; Rae Ghc 3,200; Jack Ghc 1,650
20 Goods returned to us by: Field Ghc 60; Pots Ghc 140
21 Bought Van on credit from German Motors Ghc 49,500
23 We pay the following by cheque Small Ghc 2,270; Brown Ghc 12,000; Rae Ghc
5,000
25 Bought another Van, paying by cheque immediately Ghc 62,000
26 Received loan of Ghc 7,500 cash from Benett
28 Received cheques from Pots Ghc 710; Field Ghc 420
30 Proprietor brings a further Ghc 9,000 into the business, a payment into the
business bank account.
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