Lemmy Sahar owns a business called Nyoni Services that provides a service paving courtyards and driveways. These
Question:
Lemmy Sahar owns a business called Nyoni Services that provides a service paving courtyards and driveways.
These balances were from the books at the beginning of a new financial period on 1 January.
Transactions for January:
2 Paid Korobrik Ltd for bricks (consumable stores), R490.
5 Cash receipts for services rendered, R680 (cash slip 213).
6 Paid wages by cheque, R85.
7 Cashed a cheque for cash float, R100.
12 Paid Brick Suppliers Ltd for bricks (consumable stores), R355.
13 Cash receipts for services rendered, R520.
Received cash for paving job completed, R675.
15 Paid rent by cheque, R300, to S. Minx.
17 Paid wages by cheque, R85.
18 Hilet Ltd paid for courtyard paved, R694.
21 Paid by cheque for new equipment bought form Len Ltd, R2 500.
22 Cash receipts for services rendered, R520.
25 Received a cheque for R120 from J. Ivanhof for services rendered.
27 Paid wages by cheque, R85.
28 Received a cheque from Garage Ltd for paving, R3 200.
You are required to:
1. Enter the transactions into appropriate ledger accounts using the format in Figure 6.4.
2. Prepare a classified trial balance as at 31 January.
Figure 6.4.
Step by Step Answer:
Transaction 1 Paid Korobrik Ltd for bricks consumable stores R490 Debit Consumable Stores an asset account with R490 Credit Bank with R490 Transaction 2 Cash receipts for services rendered R680 cash s...View the full answer
Fundamental Accounting
ISBN: 9781485112112
7th Edition
Authors: David Flynn, Carolina Koornhof, Ronald Arendse, Anna C. E. Coetzee, Edwardo Muriro, Louise Christel Posthumus, Louise Mancy Smit
