June 30 Recerved 7.6X You are required to enter up the following transactions for May 2005. The accounts are then to be balanced off and a trial balance extracted as at 31 May 2005. 2005 May I R. Groves started firm by depositing $15.000 into a bank account. May 2 Bought motor van on credit from K. Fung and Son, $3,400. May 2 Bought shop fittings by cheque, $600. May 3 Bought goods on credit from: K. Hollar Lid, $ 1,350; C. DeSouza, $810; P. Tucker, $180; C. Ross Lid, $440. May 4 Paid rent by cheque, $80. May 5 Received loan of $300 in cash from D. Kong. May 5 Sold goods on credit to: H. Tai and Partners, $500; P. Nunes, $373; D. Price, $140; P. Wong Ltd, $390. May 6 Bought office equipment on credit from Arthir Young and Co., $740. May 7 Cash sales, $260. May 8 Paid staff in cash, $90. May 9 Bought office stationery for cash, $28. May 11 Sold goods on credit to: D. Price, $80; L. Grant and Son, $115. May 12 Returned goods to: C. DeSouza, $54; C. Ross Ltd. $60. May 13 Paid K. Fung and Son $3,400 by cheque. May 14 Bought office stationery on credit from Rowland Supplies, $150. May 15 Bought goods on credit from: P. Tucker, $310; R. Grizzle, $770. May 16 Goods retumed to us by: P. Nunes, $11; P. Wong Ltd, $ 45. May 17 Paid K. Hollar Ltd, $1,350 by cheque. May 18 Paid staff in cash, $95. May 19 Repaid part of D . Kong's loan by cheque, $120. May 20 Cheques received from D. Price, $80; P. Wong Ltd, $345. May 21 R. Groves took $100 drawings in cash. May 22 Some of the shop fittings were unsuitable and were sold for $60cash. May 24 Bought another motor van paying by cheque immediately, $3,700. May 26 Paid staff in cash, $110. May 28 Bought goods for cash, $90.
June 30 Recerved 7.6X You are required to enter up the following transactions for May 2005. The accounts are then to be balanced off and a trial balance extracted as at 31 May 2005. 2005 May I R. Groves started firm by depositing $15.000 into a bank account. May 2 Bought motor van on credit from K. Fung and Son, $3,400. May 2 Bought shop fittings by cheque, $600. May 3 Bought goods on credit from: K. Hollar Lid, $ 1,350; C. DeSouza, $810; P. Tucker, $180; C. Ross Lid, $440. May 4 Paid rent by cheque, $80. May 5 Received loan of $300 in cash from D. Kong. May 5 Sold goods on credit to: H. Tai and Partners, $500; P. Nunes, $373; D. Price, $140; P. Wong Ltd, $390. May 6 Bought office equipment on credit from Arthir Young and Co., $740. May 7 Cash sales, $260. May 8 Paid staff in cash, $90. May 9 Bought office stationery for cash, $28. May 11 Sold goods on credit to: D. Price, $80; L. Grant and Son, $115. May 12 Returned goods to: C. DeSouza, $54; C. Ross Ltd. $60. May 13 Paid K. Fung and Son $3,400 by cheque. May 14 Bought office stationery on credit from Rowland Supplies, $150. May 15 Bought goods on credit from: P. Tucker, $310; R. Grizzle, $770. May 16 Goods retumed to us by: P. Nunes, $11; P. Wong Ltd, $ 45. May 17 Paid K. Hollar Ltd, $1,350 by cheque. May 18 Paid staff in cash, $95. May 19 Repaid part of D . Kong's loan by cheque, $120. May 20 Cheques received from D. Price, $80; P. Wong Ltd, $345. May 21 R. Groves took $100 drawings in cash. May 22 Some of the shop fittings were unsuitable and were sold for $60cash. May 24 Bought another motor van paying by cheque immediately, $3,700. May 26 Paid staff in cash, $110. May 28 Bought goods for cash, $90.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:June 30 Recerved 7.6X You are required to enter up the following transactions for May 2005. The accounts
are then to be balanced off and a trial balance extracted as at 31 May 2005. 2005 May I R. Groves started
firm by depositing $15.000 into a bank account. May 2 Bought motor van on credit from K. Fung and Son,
$3,400. May 2 Bought shop fittings by cheque, $600. May 3 Bought goods on credit from: K. Hollar Lid, $
1,350; C. DeSouza, $810; P. Tucker, $180; C. Ross Lid, $440. May 4 Paid rent by cheque, $80. May 5
Received loan of $300 in cash from D. Kong. May 5 Sold goods on credit to: H. Tai and Partners, $500; P.
Nunes, $373; D. Price, $140; P. Wong Ltd, $390. May 6 Bought office equipment on credit from Arthir
Young and Co., $740. May 7 Cash sales, $260. May 8 Paid staff in cash, $90. May 9 Bought office
stationery for cash, $28. May 11 Sold goods on credit to: D. Price, $80; L. Grant and Son, $115. May 12
Returned goods to: C. DeSouza, $54; C. Ross Ltd. $60. May 13 Paid K. Fung and Son $3,400 by cheque.
May 14 Bought office stationery on credit from Rowland Supplies, $150. May 15 Bought goods on credit
from: P. Tucker, $310; R. Grizzle, $770. May 16 Goods retumed to us by: P. Nunes, $11; P. Wong Ltd, $
45. May 17 Paid K. Hollar Ltd, $1,350 by cheque. May 18 Paid staff in cash, $95. May 19 Repaid part of D
. Kong's loan by cheque, $120. May 20 Cheques received from D. Price, $80; P. Wong Ltd, $345. May
21 R. Groves took $100 drawings in cash. May 22 Some of the shop fittings were unsuitable and were sold
for $60cash. May 24 Bought another motor van paying by cheque immediately, $3,700. May 26 Paid staff
in cash, $110. May 28 Bought goods for cash, $90.
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