Record the following details relating to a carpet retailer for the month of November 2013 and extract
Question:
Record the following details relating to a carpet retailer for the month of November 2013 and extract a trial balance as at 30 November 2013.
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2013 Nov 1 Started in business with 15,000 in the bank. 3 Bought goods on credit from: J. Small 290; F. Brown 1,200; T. Rae 610; R. Charles 530. 5 Cash sales 610. 6 Paid rent by cheque 175. 7 Paid business rates by cheque 130. 11 Sold goods on credit to: T. Potts 85; J. Field 48; T. Gray 1,640. 17 Paid wages by cash 290. 18 We returned goods to: J. Small 18; R. Charles 27. 19 Bought goods on credit from: R. Charles 110; T. Rae 320; F. Jack 165. 20 Goods were returned to us by: J. Field 6; T. Potts 14. 21 Bought van on credit from Turnkey Motors 4,950. 23 We paid the following by cheque: J. Small 272; F. Brown 1,200; T. Rae 500. 25 Bought another van, paying by cheque immediately 6,200. Received a loan of 750 cash from B. Bennet. 26 28 30 Received cheques from: T. Potts 71; J. Field 42. Proprietor brings a further 900 into the business, by a payment into the business bank account.
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To extract a trial balance as of November 30 2013 we will need to summarize the transactions of the carpet retailer for the month Each transaction aff...View the full answer
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Puhspendra Verma
I have done my schooling from St. Don Bosco school and currently I am pursuing B.tech (III year) from Sardar Vallabhbhai National Institute of Technology, Surat (NIT Surat). I have also cleared IIT-JEE advanced.
I have worked as a researcher at IIT-Indore in the topic "jet impingement".
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Frank Woods Business Accounting
ISBN: 9780273759287
12th Edition
Authors: Frank Wood. Sangster, Alan
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