JANE MARSHALL – LEDGER ACCOUNTS AND TRIAL BALANCE Jane Marshall has set up trading on 5 June 20X9 by paying $6,200 into a business bank account. Her early transactions are as follows: (a) Sale on credit for $441 (b) Purchase on credit for $237 (c) Payment of rent by cheque of $180 (d) Sale on credit for $118 (e) Sale for cash of $52 (f) Purchase on credit of $162 (g) Payment of wages in cash of $56 (h) Purchase for cash of $66 (i) Sale on credit of $97 (j) Payment to payables totalling $237 (k) Withdrawal of $100 in cash by the owner (l) Receipt from receivables totalling $215 (m) Receipt of a loan of $1,000 from the bank. Required For each of these transactions indicate which ledger account would be debited and which would be credited in the table given below, then prepare the trial balance for the business Transactions Account to be debited Account to be credited (a) (b) ……. Trial balance as at… Cash and bank Capital Sales Receivables Purchases Payables Rent Wages Drawings Loan
JANE MARSHALL – LEDGER ACCOUNTS AND
Jane Marshall has set up trading on 5 June 20X9 by paying $6,200 into a business bank account. Her early transactions are as follows:
(a) Sale on credit for $441
(b) Purchase on credit for $237
(c) Payment of rent by cheque of $180
(d) Sale on credit for $118
(e) Sale for cash of $52
(f) Purchase on credit of $162
(g) Payment of wages in cash of $56
(h) Purchase for cash of $66
(i) Sale on credit of $97
(j) Payment to payables totalling $237
(k) Withdrawal of $100 in cash by the owner
(l) Receipt from receivables totalling $215
(m) Receipt of a loan of $1,000 from the bank.
Required
For each of these transactions indicate which ledger account would be debited and which would be credited in the table given below, then prepare the trial balance for the business
Transactions Account to be debited Account to be credited
(a)
(b)
…….
Trial balance as at…
Cash and bank
Capital
Sales Receivables
Purchases
Payables
Rent
Wages
Drawings
Loan
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