Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Help with preparing ledgers,trial balances ,balance sheetsand income statements for the two consecutive months transactions below 1. Transactions for the month of March 2015 Day
Help with preparing ledgers,trial balances ,balance sheetsand income statements for the two consecutive months transactions below
1. Transactions for the month of March 2015 Day 1 commenced business introducing cash 2 bought machinery paid by cheque Deposited cash into bank account 3 received a loan from ABSA into the bank 4 purchased packaging materials cash 5 Bought ingredients by cash 5 Paid advertising by cheque 6 received a cheque for sales 7 bought a motor vehicle cheque 10 paid rent by cheque 12 paid insurance fee by cash 15 sold goods on credit to Organic Hair Salon 20 bought furniture by cheque packaging materials on credit from MW packing Ltd 25 bought fittings for cash Paid cheque for carriage outwards 27 paid salary by cheque 30 received cash from Organic Hair Salon 22 purchased 2. Transactions for the month of April 2015 Day 1 sold goods for cash 2 bought ingredients and paid by cheque 3 10 sold goods on credit to Dynamic Cash and Curry 12 13 Purchased packaging materials cash Discount received 17 23 deposited cash into business account 25 sold goods for cash 27 paid salary cheque 30 purcahsed packaging materials by cheque P 100 000 15 000 50 000 200 500 1 500 10600 500 20 000 30 000 3 000 5 000 1 000 3 500 2 000 500 250 1 000 1 000 P 10 000 2 500 2 500 1 000 250 2 500 30 000 1 000 8 000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started