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Enter the following transactions of an antiques shop in the accounts and extract a trial balance as at 31 March 20X6. 20X6 March --1 Started in business with £8,000 in the bank. == 2 Bought goods on credit from the following persons: L Frank £550; G Byers £290; P Lee £610. -- 5 Cash sales £510. == 6 Paid wages in cash £110. -- 7 Sold goods on credit to: J Snow £295; K Park £360; B Tyler £640. == 9 Bought goods for cash £120. -- 10 Bought goods on credit from: G Byers £410; P Lee £1,240. == 12 Paid wages in cash £110. -- 13 Sold goods on credit to: K Park £610; B Tyler £205. == 15 Bought shop fixtures on credit from Stop Ltd £740. == 17 Paid G Byers by cheque £700. == 18 We returned goods to P Lee £83. -- 21 Paid Stop Ltd a cheque for £740. == 24 B Tyler paid us his account by cheque £845. -- 27 We returned goods to L Frank £18. == 30 G Prince lent us £1,000 by cash. == 31 Bought a van paying by cheque £6,250.

Enter the following transactions of an antiques shop in the accounts and extract a trial balance as at 31 March 20X6. 20X6 March --1 Started in business with £8,000 in the bank. == 2 Bought goods on credit from the following persons: L Frank £550; G Byers £290; P Lee £610. -- 5 Cash sales £510. == 6 Paid wages in cash £110. -- 7 Sold goods on credit to: J Snow £295; K Park £360; B Tyler £640. == 9 Bought goods for cash £120. -- 10 Bought goods on credit from: G Byers £410; P Lee £1,240. == 12 Paid wages in cash £110. -- 13 Sold goods on credit to: K Park £610; B Tyler £205. == 15 Bought shop fixtures on credit from Stop Ltd £740. == 17 Paid G Byers by cheque £700. == 18 We returned goods to P Lee £83. -- 21 Paid Stop Ltd a cheque for £740. == 24 B Tyler paid us his account by cheque £845. -- 27 We returned goods to L Frank £18. == 30 G Prince lent us £1,000 by cash. == 31 Bought a van paying by cheque £6,250.

FINANCIAL ACCOUNTING
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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Enter the following transactions of an antiques shop in the accounts and extract a trial balance as at 31 March 20X6. 20X6 March ==1 Started in business with £8,000 in the bank. == 2 Bought goods on credit from the following persons: L Frank £550; G Byers £290; P Lee £610. == 5 Cash sales £510. == 6 Paid wages in cash £110. == 7 Sold goods on credit to: J Snow £295; K Park £360; B Tyler £640. == 9 Bought goods for cash £120. == 10 Bought goods on credit from: G Byers £410; P Lee £1,240. == 12 Paid wages in cash £110. == 13 Sold goods on credit to: K Park £610; B Tyler £205. == 15 Bought shop fixtures on credit from Stop Ltd £740. == 17 Paid GByers by cheque £700. == 18 We returned goods to P Lee £83. == 21 Paid Stop Ltd a cheque for £740. == 24 B Tyler paid us his account by cheque £845. == 27 We returned goods to L Frank £18. == 30 G Prince lent us £1,000 by cash. == 31 Bought a van paying by cheque £6,250.
Transcribed Image Text:Enter the following transactions of an antiques shop in the accounts and extract a trial balance as at 31 March 20X6. 20X6 March ==1 Started in business with £8,000 in the bank. == 2 Bought goods on credit from the following persons: L Frank £550; G Byers £290; P Lee £610. == 5 Cash sales £510. == 6 Paid wages in cash £110. == 7 Sold goods on credit to: J Snow £295; K Park £360; B Tyler £640. == 9 Bought goods for cash £120. == 10 Bought goods on credit from: G Byers £410; P Lee £1,240. == 12 Paid wages in cash £110. == 13 Sold goods on credit to: K Park £610; B Tyler £205. == 15 Bought shop fixtures on credit from Stop Ltd £740. == 17 Paid GByers by cheque £700. == 18 We returned goods to P Lee £83. == 21 Paid Stop Ltd a cheque for £740. == 24 B Tyler paid us his account by cheque £845. == 27 We returned goods to L Frank £18. == 30 G Prince lent us £1,000 by cash. == 31 Bought a van paying by cheque £6,250.
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