la2 Complete the Trial Balance (TB) for Carrick Ltd for the end of March 2022.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Q1 Prepare the T Accounts for Carrick Ltd for March 2022, completing the balancing off for each
Account.
lQ2 Complete the Trial Balance (TB) for Carrick Ltd for the end of March 2022.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe13a3d4-ca9f-45e2-9682-6f988ba982cc%2Fbbf877f4-c988-4415-9103-9c9b49f27dac%2Fdm0kh0f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Q1 Prepare the T Accounts for Carrick Ltd for March 2022, completing the balancing off for each
Account.
lQ2 Complete the Trial Balance (TB) for Carrick Ltd for the end of March 2022.
![Q1 The following transactions relate to Carrick Ltd - during March 2022, which is its first month
of business. The business has two shareholders Rede and Bridget and employs 18 members of
staff.
March Transaction
Rede invests £75,000 cash into the business.
A cash purchase was made for £12,399 from Hughes plc.
BT sent a phone invoice of £1,045 to be paid in on the last day of March.
A purchase for £5,958 is received from supplier Healy to be paid for in 14 Days
A bank loan of £105,000 was received from Northern Bank.
Cash sales of £2,125 were made to Hamilton Ltd.
The manager pays rent via DD of £6,957 per month.
A credit sale was made to Douglas plc, due in 21 days for £13,901
A vehicle is bought for £27,695 on 30 Day credit terms from TC Harrison Ltd.
Cash Sales of £8,377 were made.
An electricity invoice for £974 was received, to be paid immediately.
A credit sale was made to Pepper plc for £17,041
A Business Rates Invoice was received for £7,560 to be paid immediately.
There was another purchase on the same terms from Healy for £12,697
Cash Sales of £9,784 were made.
An invoice for water rates for £5,711 was received, to be paid in 10 days.
Bridget invested £95,000 into the business.
Credit sales were made to Pepper Ltd for £8,363
Rede returned 12% of Carrick's first purchase from Healy.
One member of staff goes pays £614 for stationery.
Carrick Ltd bought Machinery for £37,500 to be paid for in 21 days
Credit Sales for £11,592 made to Douglas plc on the same terms.
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Cash sales of £4,159 were banked.
29
Staff are paid wages of 18,645
Invoice received for £21,1215 for Fixtures & Fittings. This is due to be paid
immediately.
Credit sales of £17,628 were made to Pepper plc.
A purchase was made from Healy on the same terms for £13,187
Pepper plc returned 27% of their first purchase and then settled payment for their first
two invoices.
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01 Prepare the T Accounts for Carrick I td for March 2022 completing the balancing off for each](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe13a3d4-ca9f-45e2-9682-6f988ba982cc%2Fbbf877f4-c988-4415-9103-9c9b49f27dac%2Fsjnx1ax_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Q1 The following transactions relate to Carrick Ltd - during March 2022, which is its first month
of business. The business has two shareholders Rede and Bridget and employs 18 members of
staff.
March Transaction
Rede invests £75,000 cash into the business.
A cash purchase was made for £12,399 from Hughes plc.
BT sent a phone invoice of £1,045 to be paid in on the last day of March.
A purchase for £5,958 is received from supplier Healy to be paid for in 14 Days
A bank loan of £105,000 was received from Northern Bank.
Cash sales of £2,125 were made to Hamilton Ltd.
The manager pays rent via DD of £6,957 per month.
A credit sale was made to Douglas plc, due in 21 days for £13,901
A vehicle is bought for £27,695 on 30 Day credit terms from TC Harrison Ltd.
Cash Sales of £8,377 were made.
An electricity invoice for £974 was received, to be paid immediately.
A credit sale was made to Pepper plc for £17,041
A Business Rates Invoice was received for £7,560 to be paid immediately.
There was another purchase on the same terms from Healy for £12,697
Cash Sales of £9,784 were made.
An invoice for water rates for £5,711 was received, to be paid in 10 days.
Bridget invested £95,000 into the business.
Credit sales were made to Pepper Ltd for £8,363
Rede returned 12% of Carrick's first purchase from Healy.
One member of staff goes pays £614 for stationery.
Carrick Ltd bought Machinery for £37,500 to be paid for in 21 days
Credit Sales for £11,592 made to Douglas plc on the same terms.
26
1
2
3
3
4
8
10
11
12
14
15
16
16
17
18
20
21
21
23
25
Cash sales of £4,159 were banked.
29
Staff are paid wages of 18,645
Invoice received for £21,1215 for Fixtures & Fittings. This is due to be paid
immediately.
Credit sales of £17,628 were made to Pepper plc.
A purchase was made from Healy on the same terms for £13,187
Pepper plc returned 27% of their first purchase and then settled payment for their first
two invoices.
30
30
30
31
01 Prepare the T Accounts for Carrick I td for March 2022 completing the balancing off for each
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