On the 1.4.19X1 H Britton commenced a business dealing in subaqua equipment.

He paid £20,000 into the business bank account and the following transac¬
tions took place during the month of April.
1st From previous owner bought shop £8,000, fixtures and fittings £5,000 and stock £4,000 paying by cheque £17,000

Stock on hand 30 April cost £3,500 Required > Record the above transactions in the ledger accounts of H Britton maintaining separate cash and bank accounts and separate accounts for returned goods.
> Balance off the ledger accounts as at 30 April and extract a trial balance.
Prepare the profit and loss account for the month ended 30 April and close off all revenue and expense accounts.
>• Prepare a balance sheet as at 30 April.

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2nd Withdrew cash from bank for shop use 500 Paid for stationery and other incidentals 175 3rd Sold goods for cash 450 4th Sold goods on credit to A Britton 650 5th Cash sales 250 Wages paid in cash 160 8th Bought goods for resale on credit from R Sevier 950 A Britton returned faulty goods 100 9th Cash sales 340 Paid sundry expenses in cash 80 10th Sold goods on credit to R Sewell 11th Returned goods to R Sevier 12th Cash sales Wages paid in cash Paid excess cash into bank 15th Sold goods on credit to S Boatman 16th Bought goods for resale from P Ocean 17th Paid cheque on account to R Sevier 440 230 340 160 260 1,500 500 Received cheque on account from A Britton 400 18th Cash sales 550 Office expenses paid in cash 60 19th Paid wages in cash 160 22nd S Boatman paid on account by cheque 50 Paid P Ocean by cheque 900 Cash sales 850 24th Wages paid in cash 160 Office expenses paid in cash 50 Withdrew cash for personal use 400