Option Wood_s Business ... × 6.4A Record the following transactions for the month of January of a small finishing retailer, balance-off all the accounts, and then extract a trial balance as at 31 January 2016. 2016 1 Started in business with £10,500 cash. Jan 2 Put £9,000 of the cash into a bank account. 3 4 Bought goods for cash £550. Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510. Bought stationery on time from Buttons Ltd £89. Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204. 5 6 8 Paid rent by cheque £220. 10 11 14 15 Bought fixtures on time from Chiefs Ltd £610. Paid salaries in cash £790. Returned goods to: F. Hood £30; M. Smith £42. Bought van by cheque £6,500. 16 Received loan from B. Barclay by cheque £2,000. 18 21 Goods returned to us by: R. Tong £5; M. Singh £20. Cash sales £145. 24 Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158. 26 29 We paid the following by cheque: F. Hood £900; M. Smith £118. Received cheques from: R. Pleat £158; L. Fish £370. 30 Received a further loan from B. Barclay by cash £500. 30 Received £614 cash from A. Tom.

Option Wood_s Business ... × 6.4A Record the following transactions for the month of January of a small finishing retailer, balance-off all the accounts, and then extract a trial balance as at 31 January 2016. 2016 1 Started in business with £10,500 cash. Jan 2 Put £9,000 of the cash into a bank account. 3 4 Bought goods for cash £550. Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510. Bought stationery on time from Buttons Ltd £89. Sold goods on time to: R. Tong £170; L. Fish £240; M. Singh £326; A. Tom £204. 5 6 8 Paid rent by cheque £220. 10 11 14 15 Bought fixtures on time from Chiefs Ltd £610. Paid salaries in cash £790. Returned goods to: F. Hood £30; M. Smith £42. Bought van by cheque £6,500. 16 Received loan from B. Barclay by cheque £2,000. 18 21 Goods returned to us by: R. Tong £5; M. Singh £20. Cash sales £145. 24 Sold goods on time to: L. Fish £130; A. Tom £410; R. Pleat £158. 26 29 We paid the following by cheque: F. Hood £900; M. Smith £118. Received cheques from: R. Pleat £158; L. Fish £370. 30 Received a further loan from B. Barclay by cash £500. 30 Received £614 cash from A. Tom.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter24: Recording International And Internet Sales

Section: Chapter Questions

Problem 1MP

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