Date Transaction details 1-Aug-13 Started business by investing $20,000 from personal savings into a business’ bank account and a car and furniture worth…

Date

Transaction details

1-Aug-13

Started business by investing $20,000 from personal savings into a business’ bank account and a car and furniture worth $90,000 and $30,000 respectively.

2-Aug-13

Purchased office furniture from Standards for $3,000 paying by cheque.

4-Aug-13

Purchased goods for resale from Cedric on credit for $1,200.

5-Aug-13

Purchased goods for resale on credit from Dream Roar for $750.

7-Aug-13

Took $3,000 from the bank account for cash use.

8-Aug-13

Cash sales $900.

9-Aug-13

Credit sales to Denni and Manni for $800 and $1,000 respectively.

9-Aug-13

Returned goods to Cedric worth $110.

11-Aug-13

Cash sales $2,000.

11-Aug-13

Purchased goods for resale from Juan Ltd paying by cash $900.

12-Aug-13

Paid fuel expenses $200 by cash.

13-Aug-13

Manni returned goods amounting to $100.

14-Aug-13

Denni paid $350 in cash to his account.

15-Aug-13

Sold goods to G. Sandy for $800 on credit.

16-Aug-13

Purchased goods on credit from Cedric for $900.

18-Aug-13

Paid Dream Roar$500 on their account by cheque.

20-Aug-13

Manni paid $600 on her account by cash.

21-Aug-13

Took cash of $1,000 for personal use.

22-Aug-13

Paid Cedric $1,000 on their account by cheque.

25-Aug-13

Paid electricity expenses of $190 by cash.

26-Aug-13

Paid water expenses of $160 by cash.

27-Aug-13

Paid telephone expenses $200 by cash.

28-Aug-13

Received cash of $500 from G. Sandy

29-Aug-13

Cash Sales of $1,200.

 

Required:

a)    Record the transactions in the relevant journals

b)    Post to respective ledger and sub-ledger accounts

c)    Balance off ledger accounts and extract a Trial Balance

 

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