Recording transactions by journal entries II Refer to P3.1. Set out in the problem are details of Datini SpA’s transactions in January x3.

Required

(a) Set up ledger accounts for Datini’s wholesale business.

(b) Prepare journal entries to record the transactions of the company in January x3.

(c) Post the amounts to the ledger accounts.

(Note: the balances in the accounts at the end of January should agree with the balances in the worksheet you prepared for P3.1.)

88 PART 1 • FOUNDATIONS Rollers Company Balance sheet at start- and end-quarter 1, x7

(amounts in 000)

Quarter 1, x7 Quarter 1, x7 Start End Start End Current assets Current liabilities Cash 11 10 Accounts payable, Accounts receivable 63 56 merchandise suppliers 83 101 Merchandise inventory 168 181 Salaries payable 14 6 242 247 97 107 Fixed assets Shareholders’ equity Shop and equipment, Share capital 270 270 net of depreciation 240 253 Retained profits 115 123 385 393 Total liabilities and Total assets 482 500 shareholders’ equity 482 500 Exhibit 4.15 AppenedixLO1