OJD Ltd runs a small hotel which commenced trading on 1 March. The following transactions occurred during the month of March: 1 March Share capital of €50,000 was invested by the owners who also paid €5,000 for the first month's rent. 2 March Supplies were bought for the bar for €5,000 cheque payment and goods for the restaurant from Best Supplies Ltd for €1,500, for later payment. 5 March Weekend takings from customers amounted to €3,750. 8 March Wages paid of €1,600 and general expenses of €400. 9 March Takings from restaurant and bar sales of €7,100 were banked. 10 March A private party was held for I. Dance and an invoice sent for €5,200. 15 March Wages of €2,300 were paid. 21 March Clean Company’s laundry bill for €700 was received. 25 March Best Supplies Ltd was paid but a further delivery of provisions costing €2,500 was received. 28 March Wages paid of €1,800. 30 March Takings from customers, €6,100, were banked. You are required to: (a) record the transactions in the ledger accounts; (b) calculate the final balance on each account at the end of the month

OJD Ltd runs a small hotel which commenced trading on 1 March. The following transactions occurred during the month of March: 1 March Share capital of €50,000 was invested by the owners who also paid €5,000 for the first month's rent. 2 March Supplies were bought for the bar for €5,000 cheque payment and goods for the restaurant from Best Supplies Ltd for €1,500, for later payment. 5 March Weekend takings from customers amounted to €3,750. 8 March Wages paid of €1,600 and general expenses of €400. 9 March Takings from restaurant and bar sales of €7,100 were banked. 10 March A private party was held for I. Dance and an invoice sent for €5,200. 15 March Wages of €2,300 were paid. 21 March Clean Company’s laundry bill for €700 was received. 25 March Best Supplies Ltd was paid but a further delivery of provisions costing €2,500 was received. 28 March Wages paid of €1,800. 30 March Takings from customers, €6,100, were banked. You are required to: (a) record the transactions in the ledger accounts; (b) calculate the final balance on each account at the end of the month

Name: OJD Ltd runs a small hotel which commenced trading on 1 March. The fo
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Description: OJD Ltd runs a small hotel which commenced trading on 1 March. The following transactionsoccurred during the month of March:1 March Share capital of €50,000 was invested by the owners who also paid €5,000 for the firstmonth's rent.2 March Supplies w

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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