Question
Journalize the following transactions in the books of XYZ & Company and post them into the ledger accounts and prepare the Trial Balance for the
Journalize the following transactions in the books of XYZ & Company and post them into the ledger accounts and prepare the Trial Balance for the year ending January 31, 2005.
Jan 1 | Started business with a capital | $ 150,000 |
5 | Bought Furniture on account | 4,100 |
7 | Bought goods for cash | 875 |
9 | Paid into the Bank | 2,500 |
10 | Sold merchandise for cash | 270.50 |
11 | Purchased supplies on account | 246 |
12 | Wages paid | 72.50 |
15 | Purchased equipment paying 20% down payment and the balance a note payable | 15,500 |
17 | Paid cash for the supplies purchased on Jan 11th | 200 |
17 | Sold goods on account | 4,200 |
18 | Received cash for the goods sold on Jan 177h | 4,200 |
25 | Paid for Salaries | 2,500 |
31 | Paid rent | 2,400 |
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