3.6A Enter the following transactions in the accounts: 20X9 May 1 Started in business with £18,000 in the bank. 2 Bought goods on credit from B Hind £1,455. 3 Bought goods on credit from G Smart £472. 5 Sold goods for cash £210. 6 We returned goods to B Hind £82. 8 Bought goods on credit from G Smart £370. 10 Sold goods on credit to P Syme £483. Sold goods for cash £305. Took £250 of the cash and paid it into the bank. Bought a printer by cheque £620. 21 22 Sold goods on credit to H Buchan £394. 23 P Syme returned goods to us £160. 25 #1 #1 #1 #1 #1 #1 #1 #1 #1 #1 #1 #1 #1 12 18 H Buchan returned goods to us £18. 28 We returned goods to G Smart £47. We paid Hind by cheque £1,373. 29 31 Bought machinery on credit from A Cobb £419.
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- Question No 2: Enter the following transactions in the accounts: 20X9 May 1 Started in business with £18,000 in the bank. == 2 Bought goods on credit from B Hind £1,455. == 3 Bought goods on credit from G Smart £472. == 5 Sold goods for cash £210. == 6 We returned goods to B Hind £82. == 8 Bought goods on credit from G Smart £370. == 10 Sold goods on credit to P Syme £483. == 12 Sold goods for cash £305. == 18 Took £250 of the cash and paid it into the bank. == 21 Bought a printer by cheque £620. == 22 Sold goods on credit to H Buchan £394. == 23 P Syme returned goods to us £160. == 25 H Buchan returned goods to us £18. == 28 We returned goods to G Smart £47. == 29 We paid Hind by cheque £1,373. == 31 Bought machinery on credit from A Cobb £419. Apply concept of financial accounting to prepare: Double entriesEnter the following transactions in the accounts of L Linda: 20X7July == == == == == == == == == == == == == == == == == == == == == 1 Started in business with £20,000 in the bank.2 R Hughes lent us £5,000 in cash.3 Bought goods on credit from B Brown £1,530 and I Jess £4,162.4 Sold goods for cash £1,910.6 Took £200 of the cash and paid it into the bank.8 Sold goods on credit to H Rise £1,374.10 Sold goods on credit to P Taylor £341.11 Bought goods on credit from B Brown £488.12 H Rise returned goods to us £65.14 Sold goods on credit to G Pate £535 and R Sim £262.15 We returned goods to B Brown £94.17 Bought van on credit from Aberdeen Cars Ltd £4,370.18 Bought office furniture on credit from J Winter Ltd £1,800.19 We returned goods to I Jess £130.20 Bought goods for cash £390.24 Goods sold for cash £110.25 Paid money owing to B Brown by cheque £1,924.26 Goods returned to us by G Pate £34.27 Returned some of office furniture costing £180 to J Winter Ltd.28 L Linda put a further…Q1. Journalize the following transaction and prepare Cash Ledger only. 1. Started business with OMR 45,000 2. Purchase goods from Mr. Ahmed OMR 9,000 3. Bought machine for OMR 7,000 4. Paid rent OMR 5000 5. Sold goods on credit to Mr. Yusuf for OMR 12,000 6. Received interest OMR 11000 7. Sold goods for OMR 20000 8. Purchase goods for OMR 4000 and paid 50% cash. 9. Withdrawn 10 % of capital from the business for personal use. 10. Deposited OMR 2,000 in the bank. 11. Sold car for OMR 6000 12. Withdrawn money from bank OMR 1,000
- 4. Below are the transactions for the month of February 2020 for Mrs Lamuna, a sole trader:Feb 1 Started business with RM12,000 cash2 Bought goods on credit from Shahirah RM1,0003 Paid rent by cash RM2004 Paid RM11,000 of the business cash into the business bank account6 Sold goods on credit to Tini RM6007 Bought stationery by cheque RM5011 Cash sales RM10014 Returned goods to Shahirah RM15015 Sold goods on credit to Tinggasamy RM1,20018 Goods returned by Tini RM4523 Paid Shahirah by cheque RM85025 Cash purchases RM25027 Received cheque from Tinggasamy RM50028 Received commission by cash RM100Required:a. Record the transaction in the appropriate ledger accounts and balance all the accountusiness AccountingQ&A Library1. Record the following transaction in the appropriate journal, ledger accounts and balance off the accounts at 30 September 2020. Sept 3 Bought goods on credit for RM846 from Labu Enterprise 6 Sold goods for cash of RM73 7 Bought motor vehicle by cheque for RM4,300 11 Sold goods to Karas Sdn Bhd on credit for RM380 13 Karas Sdn Bhd returned goods to Labu Enterprise worth RM143 17 Returned goods to Labu Enterprise worth RM83 20 Received cheque for RM60 from Karas Sdn Bhd on acount 24 Bought office furniture by cheque for RM365 27 Sent cheque to Labu Enterprise in settlement of account RM160 29 Sold goods to Sakun Enterprise on credit fro RM412 1. Record the following transaction in the appropriate journal, ledger accounts and balance off the accounts at 30 September 2020. Sept 3 Bought goods on credit for RM846 from Labu Enterprise 6 Sold goods for cash of RM73 7 Bought motor vehicle by cheque for RM4,300 11 Sold goods to Karas Sdn Bhd on credit…Question 2 The following are the transactions of Lim Trading in May: May 1 Start a business with Cash in hand RM800 and Cash at bank RM1,000 2 Purchased goods by cheque RM400 2 Paid rates to Dewan Bandaraya Kuala Lumpur by cheque RM40 4 Bought goods on credit from Qin Co RM200 8 Sold goods to Tali on credit RM300 9 Cash sales RM80 10 Paid transport by cash RM12 13 Credit sales to Tali RM300 14 Paid for stationery in cash RM16 15 Introduced further capital RM1,000 by cheque 16 Tali paid for the amount owing by cheque, less 5% discount (calculate the amount) 20 Withdrew cash for own use RM120 24 Purchased goods with office cash RM28 25 Paid Qin Co a cheque in full settlement of the amount owing, less 5% discount (calculate the amount) 26 Sold goods on credit to Tali RM450 28 Paid transport by cash RM10 30 Transferred cash from office to bank RM400 30 Credit purchase from Qin Co…
- Enter the following transactions in the appropriate accounts: 20X6 Aug 1 Started in business with £7,400 cash. == 2 Paid £7,000 of the opening cash into the bank. == 4 Bought goods on credit £410 from J Watson. == 5 Bought a van by cheque £4,920. == 7 Bought goods for cash £362. == 10 Sold goods on credit £218 to L Less. == 12 Returned goods to J Watson £42. == 19 Sold goods for cash £54. == 22 Bought fixtures on credit from Firelighters Ltd £820. == 24 F Holmes lent us £1,500 paying us the money by cheque. == 29 We paid J Watson his account by cheque £368. == 31 We paid Firelighters Ltd by cheque £820. Apply concept of financial accounting to prepare : Double entries, T Ac, Trial balance of above transactions.QUESTION 2 The following are the transactions of Hus Cycle Enterprise in May: 1 Started a business with Cash in hand RM1,200 and Cash at bank RM1,100. 2 Purchased goods by cash RM200. 4 Bought goods on credit from Raise Enterprise RM500. 5 Paid rent by cheque RM720. 7 Paid advertising by cash RM330 8 Sold goods to Emas Enterprise on credit RM300. 9 Cash sales RM800. 10 Paid transport by cash RM12. 13 Credit sales to Emas Enterprise RM600. 14 Paid for stationery in cash RM16. 15 Contributed further capital RM3,000 by cheque. 16 Emas Enterprise paid for the amount owed by cheque, provide 2% discount to Emas. 20 Drawing by cheque for personal use RM150. 24 Bought goods on credit from Ally amount RM400. 25 Sold goods on credit to Lisa RM450. 26 Paid Ally by cheque in full settlement of the amount owing, received 5% discount. 28 Paid electricity by cash RM120. 30 Transferred cash from office to bank RM500. 30 Credit purchase from Nissa Co RM300. 31 Refunded cash to…Group 7 Mrs. Agustin is wholesale trader; following transactions are record in Accounting Equation? 1. Commence business with cash P400,000 and Land P70,000. 2. Bought merchandising for cash P 9,000. 3. Cash sales of worth P35,000. 4. Bought goods on credit from Salman of worth P6,000. 5. Sales on account to Ali Raza P 13,000. 6. Purchase furniture of the value of P 6,000 by cash. 7. Received cash form Ali Raza of P 11,000. 8. Return defective furniture of worth P1,000. 9. Paid wages P1,000, Rent 2,000 and Electricity Bill Payable P1,500. NOTE: PLEASE ALSO INCLUDE SOME EXPLANATION BELOW, SINCE THIS WILL BE FOR MY REPORT. THANK YOU
- 4. Below are the transactions for the month of February 2020 for Mrs Lamuna, a soletrader: Feb 1 Started business with RM12,000 cash2 Bought goods on credit from Shahirah RM1,0003 Paid rent by cash RM2004 Paid RM11,000 of the business cash into the business bank account6 Sold goods on credit to Tini RM6007 Bought stationery by cheque RM5011 Cash sales RM10014 Returned goods to Shahirah RM15015 Sold goods on credit to Tinggasamy RM1,20018 Goods returned by Tini RM4523 Paid Shahirah by cheque RM85025 Cash purchases RM25027 Received cheque from Tinggasamy RM50028 Received commission by cash RM100Required:a. Record all the transaction in the general journal (with narration)b. Record the transaction in the appropriate ledger accounts and balance all theaccountc. Prepare the trial balance as at 28 February 2020Enter the following transactions in the accounts: 20X9 May 1 Started in business with £18,000 in the bank. == 2 Bought goods on credit from B Hind £1,455. == 3 Bought goods on credit from G Smart £472. == 5 Sold goods for cash £210. == 6 We returned goods to B Hind £82. == 8 Bought goods on credit from G Smart £370. == 10 Sold goods on credit to P Syme £483. == 12 Sold goods for cash £305. == 18 Took £250 of the cash and paid it into the bank. == 21 Bought a printer by cheque £620. == 22 Sold goods on credit to H Buchan £394. == 23 P Syme returned goods to us £160. == 25 H Buchan returned goods to us £18. == 28 We returned goods to G Smart £47. == 29 We paid Hind by cheque £1,373. == 31 Bought machinery on credit from A Cobb £419. Apply concept of financial accounting to prepare: Double entriesV1801 January Kirill introduced $17,000 cash and a vehicle (costing $2,000) as capital01 January Purchased a machine by cash, $1,80001 January Received a bank loan principal $2,10002 January Purchased furniture on credit, $2,00017 January Invoiced a customer for services, $1,90021 January Bought goods for cash, $1,40022 January Sold goods on credit, $2,50031 January Accrued wages, $80031 January Paid interest expense, $10Cost of goods available at 31 January is $110, their market value is $140.RequiredPrepare:(iv) a statement of profit or loss (income statement) for the year to date;(v) a statement of financial position (balance sheet).