Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with the following question please - Ben Cook owns and operates a business called Ben Cook Traders, which sells products to retail

I need help with the following question please -

Ben Cook owns and operates a business called Ben Cook Traders, which sells products to retail outlets throughout the country.

The business has been trading for 10 years. On the3rd July 2014 a fire destroyed the building in which all the accounting documentation was held. All business documentation was burned however, Ben had recently prepared his end of financial year business trial and had kept a copy on his computer at home.

Ben needs to get some documentation completed again and has asked you to do it for him. He has provided you with the trial balance sheet from home and has requested you complete the following tasks:

1.Record the account balances in the general ledger accounts

__________________________

The assignment provides a trail balance. I can't copy it all but here is some of the trail balance.

Advertising 55000 DR

Bad debts 12000 DR

Bank 30000 CR

Buildings 80,0000 DR

Buying expenses 14,800 DR

How would you record this in a general ledger?

They have provided a table that has the following headings for me to record the transactions.

Date |PARTICULARS | Ref | DEBIT | Credit Balance | DR/CR

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Educational Foundations

Authors: Leslie Kaplan, James D Stice, William Owings

2nd Edition

1285968298, 9781285968292

More Books

Students also viewed these Accounting questions