Question
DATE DESCRIPTION Jan 1, 2017 Stated business with cash 10,000 Jan 5, 2017 Purchased goods on credit from SMB Limited for 5,000 Jan 10, 2017
DATE | DESCRIPTION |
Jan 1, 2017 | Stated business with cash 10,000 |
Jan 5, 2017 | Purchased goods on credit from SMB Limited for 5,000 |
Jan 10, 2017 | Paid in cash to SMB Limited and received 2% discount for the early payment |
Jan 15, 2017 | Donated 500 as a charity in cash |
Jan 20, 2017 | Purchase Office Equipment for 3,500 and paid in cash |
Jan 25, 2017 | Goods with list price of 10,000 was sold at 5% trade discount on cash |
Jan 30, 2017 | Paid Insurance premium for 500 |
Jan 30, 2017 | Paid Office Rent 1,000 in cash |
Jan 31, 2017 | Paid Salaries & Wages 3,000 in cash to the office staff |
Jan 31, 2017 | Paid 250 for repair and maintenance of the building |
Jan 31, 2017 | Purchase office supplies for 500 |
Required:
- Journal Entries for the above business transactions.
- Ledger Accounts
- Trial Balances for the month of Jan 2017
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