Question
DATE DESCRIPTION Jan 1, 2016 Started business with bank balance 40,000, Building 90,000 and Furniture 5,000 Jan 2, 2016 Purchased goods costing 20,00 on credit
| DATE | DESCRIPTION |
| Jan 1, 2016 | Started business with bank balance 40,000, Building 90,000 and Furniture 5,000 |
| Jan 2, 2016 | Purchased goods costing 20,00 on credit from AA Ltd. |
| Jan 3, 2016 | Sold goods for 5,000 on cash |
| Jan 4, 2016 | Purchased Office Stationery for cash 2,00 |
| Jan 4, 2016 | Deposited 3,000 cash in the business bank account |
| Jan 5, 2016 | Sold goods on credit to A & K Ltd. and B & V Ltd. for 4,000 and 1,000 respectively |
| Jan 10, 2016 | Purchased goods with list price 1,600 on credit from Z & A Ltd. and get a trade discount 5% |
| Jan 15, 2016 | Donated goods costing 2,000 as a charity |
| Jan 16, 2016 | A & K Ltd. and B & V Ltd. in full through cheque which was immediately deposited in the bank account |
| Jan 20, 2016 | Purchased office supplies for 500 |
| Jan 22, 2016 | Paid AA Ltd. in full through cheque |
| Jan 25, 2016 | Paid 5,000 for salaries and wages through bank |
| Jan 30, 2016 | Paid insurance 500 through cheque |
| Jan 31, 2016 | Paid Office rent 1,000 through cheque |
Required:
- Journal Entries for the above business transactions.
- Ledger Accounts
- Trial Balances for the month of Jan 2016
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