Question
1. Kenith has been in a business since 1 st of March 2019. The following is a list of his transactions for month of March
1. Kenith has been in a business since 1st of March 2019. The following is a list of his transactions for month of March 2019.
March 01 - Started the business by contributing Rs.250,000.
March 03 - Deposited Rs.200,000 in the bank.
March 09 Cash purchases Rs.30,000
March 11 Cash sales Rs.50,000
March 16 - A land and furniture were bought by issuing cheques valued at Rs.100,000 and Rs.58,000
March 17 Cash purchases Rs.20,000
March 18 - Purchases on credit.
Victor Rs.65,000
March 19 - Deposited Rs.55,000 in the bank.
March 22 Sales on credit.
Antony Rs.70,000
March 25 Paid following expenses in cash.
Advertising Rs.5,000
Electricity Rs.2,500
Stationary Rs. 500
March 27 Received a Rs. 40,000 amounted cheque from Antony and deposited into bank for collection immediately.
March 28 Cash sales Rs. 30,000
March 30 Issued a Rs. 35,000 amounted cheque to Victor.
March 31 Paid following expenses by cheques.
Rent Rs.6,500
Salary Rs. 21,000
(I) Record above transactions in relevant subsidiary books.
(II) Prepare the general ledger.
(III) Prepare the trial balance as at 31st March 2019.
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