Question
LD Services has recently opened their business and has been struggling to find a suitable candidate to do their bookkeeping. They have turned to
LD Services has recently opened their business and has been struggling to find a suitable candidate to do their bookkeeping. They have turned to you for assistance. The owner of LD Services provides you with the following ledger accounts for the month of March 2021: (a) Capital 40 000 Accounts payable Services rendered 5.000 Rent expense (b) 2000 Services rendered 10 000 Telephone 1500 (c) 55 000 Advertising 5.000 (d) 1.000 Wages 1250 Accounts payable Bank Equipment 10 000 5.000 Vehicles Bank Capital 50.000 30 000 Accounts Payable Bank 7.000 Bank 1000 Equipment (e) Capital (f) 40 000 (g) (h) Drawings Page 7 of 8 You are required to: a) Provide answers for (a) to (h) above. (8 marks) b) Complete the ledger accounts by balancing the above accounts. (10 marks) c) Using the information above, prepare the Nominal Accounts Section of the general ledger. (6 marks) d) Prepare a Trial Balance for LD Services for the period ended 31 March 2021. (7 marks)
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