Question
During the month of March 2019 the following transactions took place at Roberts' business: March 1Roberts opened bank account with 50,000 obtained from private resources.
During the month of March 2019 the following transactions took place at Roberts' business:
March 1Roberts opened bank account with 50,000 obtained from private resources.
March 4Van purchased for 15,000 paying by cheque
March 5Bought goods costing 3,000 on credit from Alison.
March 10Sold some goods on credit to Dave for 9,000
March 15Roberts transferred 800 of the bank account to open a petty cash account
March 18Roberts withdrew 950 in cash from the bank account for personal use.
March 20Sold goods on cash to Ebays for 10,000
March 23Roberts paid Alison's account by cheque after receiving cash discount of 400
March 25 Dave returned goods of 700 to Roberts and is allowed a cash discount of 300
March 30 van repairs of 300 paid out of the petty cash.
Required:
1.Journalise the above transactions
2.Post the above transactions in Roberts' ledger accounts of March 2019
3.Close & Balance off the accounts
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