The following transactions relates to Jane a sole trader in Kiambu County: 2020 May: 1 Started in business with Kshs.2,500,000 in bank “ 3 Bought machinery worth Kshs.750,000 on credit from XYZ ltd. “ 5 Bought a motor van paying by cheque Kshs.600, 000 “ 8 Paid the amount owing to XYZ Ltd by cheque “ 15 Purchased stock from Unga Ltd. on credit Kshs.200,000 “ 17 Sold goods on credit to Stima Club Kshs.100,000 “ 18 Returned goods to Unga Ltd worth Kshs.10,000 “ 23 Stima Club returned goods to us worth Kshs.15,000 “ 25 Paid the amount owing to Unga Ltd. by cheque “ 30 Bought more machinery by cheque Kshs.280,000 Required: (i) Prepare the relevant ledger accounts and balance them off b) The following details relates to a second hand bookshop at Mariakani. 2019 Nov: 1st: Balance brought forward from the previous month: cash sh 105; Bank sh2164. 2nd: Cash sales sh 605. 3rd: Took sh 500 from the cash till and paid it into the bank 4th: J Mathews paid us sh 217 by a cheque 5th: We paid for postage stamps sh 60 cash. 6th: Bought office equipment by cheque sh 189. 7th: We paid J.Lucas by cheque sh 50 9th:We received rates refund by cheque sh 72. 11th: Withdrew sh 250 from the bank for business use. 12th: Paid wages in cash sh 239. 14th: Paid motor expenses by cheque sh 57. 16th: L Levy lent us sh 200 in cash Required: From the above transactions write up a two column cash book.
a)The following transactions relates to Jane a sole trader in Kiambu County:
2020 May:
1 Started in business with Kshs.2,500,000 in bank
“ 3 Bought machinery worth Kshs.750,000 on credit from XYZ ltd.
“ 5 Bought a motor van paying by cheque Kshs.600, 000
“ 8 Paid the amount owing to XYZ Ltd by cheque
“ 15 Purchased stock from Unga Ltd. on credit Kshs.200,000
“ 17 Sold goods on credit to Stima Club Kshs.100,000
“ 18 Returned goods to Unga Ltd worth Kshs.10,000
“ 23 Stima Club returned goods to us worth Kshs.15,000
“ 25 Paid the amount owing to Unga Ltd. by cheque
“ 30 Bought more machinery by cheque Kshs.280,000
Required:
(i) Prepare the relevant ledger accounts and balance them off
- b) The following details relates to a second hand bookshop at Mariakani.
2019 Nov:
1st: Balance brought forward from the previous month: cash sh 105; Bank sh2164.
2nd: Cash sales sh 605.
3rd: Took sh 500 from the cash till and paid it into the bank
4th: J Mathews paid us sh 217 by a cheque
5th: We paid for postage stamps sh 60 cash.
6th: Bought office equipment by cheque sh 189.
7th: We paid J.Lucas by cheque sh 50
9th:We received rates refund by cheque sh 72.
11th: Withdrew sh 250 from the bank for business use.
12th: Paid wages in cash sh 239.
14th: Paid motor expenses by cheque sh 57.
16th: L Levy lent us sh 200 in cash
Required:
From the above transactions write up a two column
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