Answer to Question #315319 in Marketing for cosette

Question

On March 1, of the current year, Ms. Jocelyn Montery made the following initial

investments on her consultancy office:

Cash deposited in Metro Bank Ᵽ 100,000

Revolving fund for current operation 20,000

Required:

1) Record the transactions in a two-column general journal.

2) Post to the ledger.

3) Prepare the Trial Balance.

Answer 1

1) Dr Bank 100,000

Cr Capital 100,000

Dr Cash In Hand 20,000

Cr Capital 20,000

2) Dr Cash 120,000

Cr Capital 120,000

3) Trial Balance

Dr Cr

Cash/Bank 120,000 Capital 120,000