You are provided with the following information of John Mlachake for the month of March 2014 March: 1 Started his business with capital in cash of Kshs. 800,000 and Kshs 2,200,000 in the bank. 2 Bought goods on credit from the following persons: J Ward Kshs 610,000; P Green Kshs. 214,000: M Taylor Kshs Kshs174,000; S Gemmill Kshs 345,000; P Tone Kshs 542,000. 4 Sold goods on credit to: J Sharpe Kshs 340,000; G Boycott Kshs 720,000; F Titmus Kshs 1,152,000. 6 Paid rent by cash Kshs 180,000 9 J Sharpe paid us his account by cheque Kshs 340,000. 10 F Titmus paid us Kshs 1,000,000 by cheque. 12 We paid the following by cheque: M Taylor Kshs 174,000; J Ward Kshs 610,000. 15 Paid carriage by cash Kshs 38,000. 18 Bought goods on credit from P Green Kshs 291,000; S Gemmill Kshs 940,000. 21 Sold goods on credit to G Boycott Kshs 810,000. 31 Paid rent by cheque Kshs Kshs 230,000. Required to: Enter the above transactions in the ledger accounts and balance off the accounts.

You are provided with the following information of John Mlachake for the month of March 2014 March: 1 Started his business with capital in cash of Kshs. 800,000 and Kshs 2,200,000 in the bank. 2 Bought goods on credit from the following persons: J Ward Kshs 610,000; P Green Kshs. 214,000: M Taylor Kshs Kshs174,000; S Gemmill Kshs 345,000; P Tone Kshs 542,000. 4 Sold goods on credit to: J Sharpe Kshs 340,000; G Boycott Kshs 720,000; F Titmus Kshs 1,152,000. 6 Paid rent by cash Kshs 180,000 9 J Sharpe paid us his account by cheque Kshs 340,000. 10 F Titmus paid us Kshs 1,000,000 by cheque. 12 We paid the following by cheque: M Taylor Kshs 174,000; J Ward Kshs 610,000. 15 Paid carriage by cash Kshs 38,000. 18 Bought goods on credit from P Green Kshs 291,000; S Gemmill Kshs 940,000. 21 Sold goods on credit to G Boycott Kshs 810,000. 31 Paid rent by cheque Kshs Kshs 230,000. Required to: Enter the above transactions in the ledger accounts and balance off the accounts.

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Description: You are provided with the following information of John Mlachake for the month ofMarch 2014March: 1 Started his business with capital in cash of Kshs. 800,000 and Kshs 2,200,000 in thebank.2 Bought goods on credit from the following persons: J Ward

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter3: Financial Statements, Tools, And Budgets

Section: Chapter Questions

Problem 5DTM

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