Open accounts in Mr J Mwero’s ledger and post above transactions in the ledger and the three column cash book.
Mr J Mwero, a wholesale merchant had the following balances in his ledger at 1 March 2019.Cash in hand Sh.3,000; Bank overdraft Sh.7,000; Motor vans Sh.56,000; Furniture and Equipment Sh.11,900; Creditor (R. Osoro) Sh.4,800; Debtor (B. Anyumba) Sh.3,000; Capital Sh.20,000; Loan from Kokise Investment Ltd. Sh. 42,100.
At the end of the month, Mr. J Mwero was able to provide the following information from his records:
Cash Transactions:
I) Receipts -
March 7: Cash Sales - Sh.1,200 “
26: Cash from bank - Sh.3,500
ii) Payments -
March 10: Electricity - Shs.200 “
14: Salaries - Sh.1,800 “
25: Postage and Stationery - Sh.960
Bank Transactions:
i) Receipts -
March 17: B. Anyumba - Sh.48,000
ii) Payment -
March 20: R. Osoro - Sh. 20,600 in full Settlement less Sh.200 cash discount
March 27: Kokise Investment Ltd. - Shs.2,100
Other Transactions:
March 5:Purchase goods - Sh.16,000 from R OsoroMarch
11: Sold goods to B Anyumba - Shs.50,000March
13: Bought office chair - Sh.280 on credit from United Furniture martMarch
15: B Anyumba returned goods worth Sh.150 Required, Open accounts in Mr J Mwero’s
Required,
Open accounts in Mr J Mwero’s ledger and post above transactions in the ledger and the three column cash book.
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