You are to enter up the necessary accounts for the month of June from the following information relating to a small printing firm. Then balance off the accounts and extract a trial balance as at 30 June 2020. June 1 Started in business with capital in cash of $800 and $2200 in the bank. June 2 Bought goods on credit from the following persons: J Ward $610; P Green $214; M Taylor $174; Gemmill $345; P Tone $542 June 4 Sold goods on credit to: J Sharpe $340; G Boycott $720; F Titmus $1,152 June 6 Paid rent by cash $180 June 9 J Sharpe paid us his account by cheque $340. June 10 F Titmus paid us $1000 by cheque June 12 we paid the following by cheque: M Taylor $174; J Ward $610 June 15 Paid carriage by cash $38 June 18 Bought goods on credit from P Green $291; S Gemmill $940 June 21 Sold goods on credit to G Boycott $810 June 30 Paid rent by cheque $230
You are to enter up the necessary accounts for the month of June from the following information relating to a small printing firm. Then balance off the accounts and extract a trial balance as at 30 June 2020. June 1 Started in business with capital in cash of $800 and $2200 in the bank. June 2 Bought goods on credit from the following persons: J Ward $610; P Green $214; M Taylor $174; Gemmill $345; P Tone $542 June 4 Sold goods on credit to: J Sharpe $340; G Boycott $720; F Titmus $1,152 June 6 Paid rent by cash $180 June 9 J Sharpe paid us his account by cheque $340. June 10 F Titmus paid us $1000 by cheque June 12 we paid the following by cheque: M Taylor $174; J Ward $610 June 15 Paid carriage by cash $38 June 18 Bought goods on credit from P Green $291; S Gemmill $940 June 21 Sold goods on credit to G Boycott $810 June 30 Paid rent by cheque $230
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You are to enter up the necessary accounts for the month of June from the following information relating to a small printing firm. Then balance off the accounts and extract a trial balance as at 30 June 2020.
June 1 Started in business with capital in cash of $800 and $2200 in the bank.
June 2 Bought goods on credit from the following persons: J Ward $610; P Green $214; M Taylor $174; Gemmill $345; P Tone $542
June 4 Sold goods on credit to: J Sharpe $340; G Boycott $720; F Titmus $1,152
June 6 Paid rent by cash $180
June 9 J Sharpe paid us his account by cheque $340.
June 10 F Titmus paid us $1000 by cheque
June 12 we paid the following by cheque: M Taylor $174; J Ward $610
June 15 Paid carriage by cash $38
June 18 Bought goods on credit from P Green $291; S Gemmill $940
June 21 Sold goods on credit to G Boycott $810
June 30 Paid rent by cheque $230
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