accounting accounting accounting This is the book of Mr. Lindsay Carlos Jan 1 Ja

Question

accounting accounting accounting This is the book of Mr. Lindsay Carlos Jan 1 Jan 2 Jan 3 Jan 4 Jan 5 Jan 7 Jan 9 Jan 11 started business with $6000 in the bank and $500 cash in hand bought $2500 goods on credit from Allen. D credit sales: Leon. F $660; Earl. A $250; Cecil. H $43 goods bought for cash $230 Bought motor van paying by cheque, $2560 paid motor expenses by cheque, $72 credit sales: Marlon. W, $240; White. K, $260; Lloyd. C, $650 goods bought on credit: Allen. D $240; Terrence. S $62; Tyrone. S$460 Jan 13 goods returned by us to Allen D$ 25 Jan 15 paid motor expenses by cash, $50 Jan 19 Jan 20 cstaken for own use (drawings), $ 100 Jan 21 Jan 23 Jan 25 Ceci. H paid us by cheque, $43 Jan 26 csles, $340 Jan 27 Jan 28 goods returned by us to Allen. D $42 Jan 29 paid for postage stamps by cash, $24 Jan 30 Required a) The above transactions are to be entered in the relevant accounts using the T. b) Extract a trial balance as at 31 Jan. 2009 goods returned to us by Earl. A $110 paid the following by cheque: Terrence. S, $62; Tyrone. S, $460 Leon. F paid us in cash $660 cash taken for own use, $124 credit sales: Earl. A, $143; Mark. W, $67; White. K, $245 Account. Balance off all accounts (25 marks)

Explanation / Answer

Cash 1-Jan $500 4-Jan $230 23-Jan $660 15-Jan $50 26-Jan $340 20-Jan $100 27-Jan $124 29-Jan $24 31 Jan. Bal. $972

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