Answer to Question #138985 in Accounting for Alicia

Question

SUBSIDIARY BOOKS & LEDGER/TRIAL BALANCE
On 1st January 2018 Kijana Raburu commenced a retail business with Sh.270,000 in cash, a second-hand car worth Sh.252,000 and an office desk valued at Sh.18,000
The following transactions were recorded during the month of January:
1 Opened bank current account with Sh.180,000 cash
1 Paid office rent by cheques Sh.9,000
3. Bought goods for resale and paid by cheques Sh.67,500
4. Cash sales Sh.43,200, paid wages Sh.3,375 in cash
5. Sold goods to Alfred on credit Sh.36,000
8. Bought goods worth Sh.63,000 on credit from Thika Wholesalers, less 10% trade
Discount.
11 Cash sales Sh.18,000
11 Paid cash into bank Sh.13,500
13 Cash purchases Sh.40,500


Q1)Post entries into the ledger accounts, balance off the ledger accounts

Answer 1

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