You have the following details for A. Bird of transactions with customers and suppliers. (a) 1 June
Question:
You have the following details for A. Bird of transactions with customers and suppliers.
(a) 1 June credit purchases of £8,000, £6,000 and £5,000 from Robin, Falcon and Sparrow, respectively.
(b) 4 June A. Bird returns goods unpaid of £1,000 and £2,000 to Robin and Falcon, respectively.
(c) 6 June A. Bird makes credit sales of £4,000, £7,000 and £6,000 to Thrush, Raven and Starling, respectively.
(d) 7 June Starling returns £1,000 goods unpaid which are faulty.
Required:
(i) Write up the relevant ledger accounts.
(ii) Balance off the accounts on 7 June for the income statement. Bring them forward on 7 June, however, there is no need actually to transfer them to the income statement.
(iii) Bring forward balances for assets and liabilities on 8 June.
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