Required: a. Record all the transaction in the general journal b. Record the transaction in the appropriate ledger accounts and balance all the account c. Prepare the trial balance as at 30 October 2020
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- The following transactions relate to Pat’s business for the month of December 2019.1.12.19 Started the business with Rs.10000 in cash.2.12.19 Bought goods on credit from the following suppliers:Grass Rs.6000Seed Rs.700010.12.19 Sold goods on credit to the following customers:Fog Rs.3000Mist Rs.400012.12.19 Returned goods to the following suppliers:Grass Rs.1000Seed Rs.200015.12.19 Bought additional goods on credit from Grass for Rs.3000 and from Seed for Rs.4000.20.12.19 Sold more goods on credit to Fog for Rs. 2000 and to Mist for Rs. 3000.24.12.19 Paid office expenses of Rs. 5000 in cash. 29.12.19 Received Rs. 4000 in cash from Fog and Rs. 6000 in cash from Mist.31.12.19 Pat paid Grass and Seed Rs. 6000 and Rs.8000, respectively, in cash.You are required to:Enter the above transactions in Pat’s journal and ledger accounts and compile a trial balance as at 31 December 2019.Enter the following transaction in the ledger accounts and balance them October 2020: 1 Started in business with Ksh. 75,000 cash. 3 Bought goods for cash Ksh. 11,000. 7 Bought goods on credit Ksh. 32,000 from F Herd. 10 Sold goods for cash Ksh. 6,400. 14 Returned goods to F Herd Ksh. 4,600. 18 Bought goods on credit Ksh. 41,400 from D Exodus. 21 Returned goods to D Exodus Ksh. 3,100. 24 Sold goods to B Squire Ksh. 8,200 on credit. 25 Paid F Herd’s account by cash Ksh. 27,400. 31 B Squire paid us his account in cash Ksh. Ksh. 8,200.1. Record the following transaction in the appropriate journal, ledger accounts andbalance off the accounts at 30 September 2020.Sept 3 Bought goods on credit for RM846 from Labu Enterprise6 Sold goods for cash of RM737 Bought motor vehicle by cheque for RM4,30011 Sold goods to Karas Sdn Bhd on credit for RM38013 Karas Sdn Bhd returned goods to Labu Enterprise worth RM14317 Returned goods to Labu Enterprise worth RM8320 Received cheque for RM60 from Karas Sdn Bhd on acount24 Bought office furniture by cheque for RM36527 Sent cheque to Labu Enterprise in settlement of account29 Sold goods to Sakun Enterprise on credit fro RM412
- 1. Record the following transaction in the appropriate journal, ledger accounts andbalance off the accounts at 30 September 2020.Sept 3 Bought goods on credit for RM846 from Labu Enterprise6 Sold goods for cash of RM737 Bought motor vehicle by cheque for RM4,30011 Sold goods to Karas Sdn Bhd on credit for RM38013 Karas Sdn Bhd returned goods to Labu Enterprise worth RM14317 Returned goods to Labu Enterprise worth RM8320 Received cheque for RM60 from Karas Sdn Bhd on acount24 Bought office furniture by cheque for RM36527 Sent cheque to Labu Enterprise in settlement of account RM16029 Sold goods to Sakun Enterprise on credit fro RM41245) Minimart business has the following transactions for the month of May 2019. 11- Sold goods and received cash of RO 4,500 14- Received rent of RO 1,400 19- Received cash from RK traders of RO 1,850 for the goods sold on May 8 2019, on credit. 26- Sold goods to Rainbow traders and received cash of RO 5,600 29- Paid cash to MN traders for the goods purchased of RO 2,000 Calculate and show the amount which will be transferred to Total column of Cash receipts book for the month of May 2019? a. RO 15,350 b. RO 7,750 c. RO 13,350 d. RO 11,50045)Minimart business has the following transactions for the month of May 2019. 11- Sold goods and received cash of RO 4,500 14- Received rent of RO 1,400 19- Received cash from RK traders of RO 1,850 for the goods sold on May 8 2019, on credit. 26- Sold goods to Rainbow traders and received cash of RO 5,600 29- Paid cash to MN traders for the goods purchased of RO 2,000 Calculate and show the amount which will be transferred to Total column of Cash receipts book for the month of May 2019?
- Journalise the following transactions in the books of Mr.K: 2020 March 01-Sold goods on credit to Mr.M=75,000 12th March-Purchased goods on credit from Mr.B=70,000 15th March-Sold goods for cash to Mr.D=50,000 20th March-Received from Mr.M=70,000 25th March-Paid to Mr.B=50,000They sold $50,000 worth of goods on credit, with terms 3/10, n/20, on 2/1/2021. Record this journal entry using both the net and gross methods. Record the journal entry if the customer pays off this account on 2/5/2021. Record the journal entry if the customer pays off this account on 3/1/2021.On 10 January 2021, Mrs D Africa sold goods to three different clients, Mr P Lucky, Mrs V Happy and Mr T Busy. Sales invoices number 0001, 0002 and 0003 were issued to them respectively. They have paid the amounts and receipts number 0002, 0003 and 0004 were issued to Mr P Lucky, Mrs V Happy and Mr T Busy respectively. The source document to be used to record this transaction is a/an ... . Select one: a. cash register roll b. duplicate receipt c. original receipt d. original cash invoice
- On 1st January, 2020, Kamal 's account in Vimal's ledger showed a debit balance of * 15,000. The following transactions took place between Vimal and Kamal during the quarter ended 31st March, 2020: Jan. Jan. 2020 Feb. Feb. Feb. March March March 11 24 01 04 07 01 18 23 Vimal sold goods to Kamal Vimal received a promissory note from Kamal due after 3 months Kamal sold goods to Vimal Vimal sold goods to Kamal Kamal returned goods to Vimal Kamal sold goods to Vimal Vimal sold goods to Kamal Kamal sold goods to Vimal ₹ 18,000 15,000 30,000 24,600 3,000 16,800 27,600 12,000 Accounts were settled on 31st March, 2020 by means of a cheque. Prepare an Account Current to be submitted by Vimal to Kamal as on 31 March, 2020, taking interest into account @ 10% per annum. Calculate interest to the nearest multiple of a rupee.first sale! They sold $100,000 worth of goods on credit, with terms 3/10, n/20, on 2/1/2021. Record this journal entry using both the net and gross methods. Record the journal entry if the customer pays off this account on 2/5/2021. Record the journal entry if the customer pays off this account on 3/1/2021.1. The following credit sales for Edan enterprises took place during May 2020: May 1: Credit sales to Axel May 2: Credit sales to Bisham May 4: Credit sales to Cloe May 5: Credit sales to N.Roben May 7: Credit sales to S.Wijnelden €300 May 10: Credit sales to T. Hector May 11: Credit sales to P. Sneijder €500 May 17 Credit sales to N.Roben May 23: Credit sales to Cloe May 30: Credit sales to Axel €800 €500 €400 €700 €800 €600 €1,000 €900 Required: (a) Record the above transactions in a sales day book (b) Record the above transactions in the following ledger accounts: (i) (ii) Sales Ledger (C Transfer the total to the sales account in the General ledger