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Hwk 2: Enter the transactions in the accounts below. At the end of the month balance/close off all accounts and create the Trial Balance.
Estimated Score
PWD:
Your Score:
Note: Use "balance c/d" and "balance b/d" when balancing accounts. Ensure no extra spaces in cells. Use exact names on accounts.
May
1
The owner starts the business with £50,000 deposited in the business bank account.
3
Goods bought on credit: £540 from M Windu, £300 from D Vader and £380 from B Fett.
4
Cash sales: £160
5
Paid wages in cash: £80.
8
Commissions Received for book repair, £75 paid by cheque.
10
Sold goods on credit to the following customers: H Solo £230, C Bacca £360, P Leia £85. Use this order in Sales.
11
Goods bought for cash: £55
14
The owner takes £30 from the business bank account for personal use.
15
Goods are returned to the following suppliers: D Vader £40, B Fett £110.
16
A delivery van is bought by cheque for £5,500
19
£2,000 is taken from the bank to be used as business cash.
20
H Solo returns £20 of goods and pays £70 of his bill by cheque.
22
Motor insurance paid in cash: £350.
23
Further goods bought on credit from D Vader: £650
25
A Akbar lends to business £3,000 in the form of a cheque.
26
We pay the amount owing to D Vader in cash and he gives us a 10% discount. (Enter the discount first in the accounts).
27
H Solo buys goods on credit valued at £130.
28
H Solo pays his bill in cash and we give a 10% discount. (Enter the discount first in the accounts).
Capital
May
£
May
£
June
£
June
£
Bank
May
£
May
£
June
£
June
£
Cash
May
£
May
£
June
£
June
£
Discounts Received
May
£
May
£
June
£
June
£
Discounts Allowed
May
£
May
£
June
£
June
£
Drawings
May
£
May
£
June
£
June
£
Purchases
May
£
May
£
June
£
June
£
Sales
May
£
May
£
June
£
June
£
Returns In
May
£
May
£
June
£
June
£
Returns Out
May
£
May
£
June
£
June
£
H Solo
May
£
May
£
C Bacca
May
£
May
£
June
£
June
£
P Leia
May
£
May
£
June
£
June
£
Wages
May
£
May
£
June
£
June
£
Motor Insurance
May
£
May
£
June
£
June
£
Van
May
£
May
£
June
£
June
£
Commissions Received
May
£
May
£
June
£
June
£
A Akbar
May
£
May
£
June
£
June
£
M Windu
May
£
May
£
June
£
June
£
D Vader
May
£
May
£
B Fett
May
£
May
£
June
£
June
£
DR
CR
Trial Balance
£
£
Enter accounts in the Trial Balance in the order they appear in the ledger above.
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