17.3 You are to open the books of F Polk, a trader, via the journal to record the assets and liabil- ities, and are then to record the daily transactions for the month of May. A trial balance is to be extracted as on 31 May 20X9. 20X9 1 Assets: Premises £34,000; Van £5,125; Fixtures £810; Stock £6,390. Debtors: P Mullen £140; F Lane £310. Cash at bank £6,240; Cash in hand £560. Liabilities: Creditors: S Hood £215; J Brown £460. 1 Paid storage costs by cheque £40. 2 Goods bought on credit from: S Hood £145; D Main £206; W Tone £96; R Foot £61. 3 Goods sold on credit to: J Wilson £112; T Cole £164; F Syme £208; J Allen £91; P White £242; F Lane £77. 4 Paid for motor expenses in cash £47. 7 Cash drawings by proprietor £150. 9 Goods sold on credit to: T Cole £68; J Fox £131. 11 Goods returned to Polk by: J Wilson £27; F Syme £41. 14 Bought another van on credit from Abel Motors Ltd £4,850. 16 The following paid Polk their accounts by cheque less 5 per cent cash discount: P Mullen; F Lane; J Wilson; F Syme. 19 Goods returned by Polk to R Foot £6. 22 Goods bought on credit from: L Mole £183; W Wright £191. 24 The following accounts were settled by Polk by cheque less 5 per cent cash discount: S Hood; J Brown; R Foot. 27 Salaries paid by cheque £480. 30 Paid business rates by cheque £132. 31 Paid Abel Motors Ltd a cheque for £4,850. May %3D %3D %3D %3D %3D ミミ:ミミ
17.3 You are to open the books of F Polk, a trader, via the journal to record the assets and liabil- ities, and are then to record the daily transactions for the month of May. A trial balance is to be extracted as on 31 May 20X9. 20X9 1 Assets: Premises £34,000; Van £5,125; Fixtures £810; Stock £6,390. Debtors: P Mullen £140; F Lane £310. Cash at bank £6,240; Cash in hand £560. Liabilities: Creditors: S Hood £215; J Brown £460. 1 Paid storage costs by cheque £40. 2 Goods bought on credit from: S Hood £145; D Main £206; W Tone £96; R Foot £61. 3 Goods sold on credit to: J Wilson £112; T Cole £164; F Syme £208; J Allen £91; P White £242; F Lane £77. 4 Paid for motor expenses in cash £47. 7 Cash drawings by proprietor £150. 9 Goods sold on credit to: T Cole £68; J Fox £131. 11 Goods returned to Polk by: J Wilson £27; F Syme £41. 14 Bought another van on credit from Abel Motors Ltd £4,850. 16 The following paid Polk their accounts by cheque less 5 per cent cash discount: P Mullen; F Lane; J Wilson; F Syme. 19 Goods returned by Polk to R Foot £6. 22 Goods bought on credit from: L Mole £183; W Wright £191. 24 The following accounts were settled by Polk by cheque less 5 per cent cash discount: S Hood; J Brown; R Foot. 27 Salaries paid by cheque £480. 30 Paid business rates by cheque £132. 31 Paid Abel Motors Ltd a cheque for £4,850. May %3D %3D %3D %3D %3D ミミ:ミミ
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter2: Analyzing Transactions: The Accounting Equation
Section: Chapter Questions
Problem 4SEB: EFFECTS OF TRANSACTIONS (BALANCE SHEET ACCOUNTS) Jon Wallace started a business. During the first...
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Transcribed Image Text:17.3 You are to open the books of F Polk, a trader, via the journal to record the assets and liabil-
ities, and are then to record the daily transactions for the month of May. A trial balance is to be
extracted as on 31 May 20X9.
20X9
1 Assets: Premises £34,000; Van £5,125; Fixtures £810; Stock £6,390. Debtors: P Mullen
£140; F Lane £310. Cash at bank £6,240; Cash in hand £560.
Liabilities: Creditors: S Hood £215; J Brown £460.
1 Paid storage costs by cheque £40.
2 Goods bought on credit from: S Hood £145; D Main £206; W Tone £96; R Foot £61.
3 Goods sold on credit to: J Wilson £112; T Cole £164; F Syme £208; J Allen £91; P White
£242; F Lane £77.
4 Paid for motor expenses in cash £47.
7 Cash drawings by proprietor £150.
9 Goods sold on credit to: T Cole £68; J Fox£131.
11 Goods returned to Polk by: J Wilson £27; F Syme £41.
14 Bought another van on credit from Abel Motors Ltd £4,850.
16 The following paid Polk their accounts by cheque less 5 per cent cash discount:
P Mullen; F Lane; J Wilson; F Syme.
19 Goods returned by Polk to R Foot £6.
22 Goods bought on credit from: L Mole £183; W Wright £191.
24 The following accounts were settled by Polk by cheque less 5 per cent cash discount:
S Hood; J Brown; R Foot.
27 Salaries paid by cheque £480.
30 Paid business rates by cheque £132.
31 Paid Abel Motors Ltd a cheque for £4,850.
Мay
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