Question
Compile a ledger account using this information? Vale has been in business for some years. The following balances were brought for- ward in his books
Compile a ledger account using this information?
Vale has been in business for some years. The following balances were brought for-
ward in his books of account as at 31 December 2004:
During the year to 31 December 2005 the following transactions took place:
1 Goods bought from Dodd on credit for 30 000.
2 Cash sales of 20 000.
3 Cash purchases of 15 000.
4 Goods sold to Fish on credit for 50 000.
5 Cheques sent to Dodd totalling 29 000.
6 Cheques received from Fish totalling 45 000.
7 Cash received from Fish amounting to 7000.
8 Office expenses paid in cash totalling 9000.
9 Purchase of delivery van costing 12 000 paid by cheque.
10 Cash transfers to bank totalling 3000.
:
(a) Compile Vales ledger accounts for the year 31 December 2005, balance off the
accounts and bring down the balances as at 1 January 2006.
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