Nominal Ledger opening balances as at August 1st 2021 Bank 10,000 Van 15,000 Fixtures and fittings 6,000 irrecoverable debts 1,000 Trade Receivables 2,000 Purchases 18,000 Sales 25,000 Trade Payables 4,000 Capital 23,000 Bob classifies his sales as either computer sales, printer sales or 'other sales' Other sales are items such as software, paper, keyboards etc August 2021 Transactions August 1 st 2021 Transferred personal savings to the business bank account Paid a deposit on the premises by cheque Completed the purchase of the business premises at High Street, Treforest, Pontypridd The mortgage of 70,000 has been arranged with the bank The bank repayments are 700 per month, payable by direct debit This will go out on the 25 th of each month The payments represent a figure for interest of 585 and a repayment of capital of 115 Bob transferred his personal van to the business, valued at 6,000 50000 00 30000 00 6000 00 August 2 nd Transferred from the bank account to petty cash Purchased carpets for the office and shop from Caring Carpets Ltd on credit Purchased goods for resale, paying from the bank account 100 00 1280 60 3,000 August 3 rd Purchased desks, chairs and filing cabinets for the office from Office Supplies Ltd 4631 20 Made the following payments by cheque BT telephone connections Insurance (for 12 months) Second hand shop equipment for the office and shop, purchased from Traders second hand office equipment Ltd Advertising , arranged by JW Promotions Ltd 150 00 423 05 1558 32 1200 00 August 4 th Purchased catalogue and promotional printing from Publicity printers Ltd on credit Purchased office stationary on credit from Highwood printers 1534 00 232 00 August 5 th Made the following credit purchases Supplier 1 Supplier 2 9472 00 3473 66 August 6 th Made the following credit sales Sale of other to customer 1 Sale of other to customer 2 Sale of printers to customer 3 700 00 800 00 250 00 August 8 th Made the following credit sales Sale of other to customer 5 Sale of printers to customer 4 108 10 286 35 August 9 th Made the following credit sales Sale of other to customer 1 Sale of computers to customer 6 Sale of computers to customer 2 115 00 1311 00 4222 80 August 10 th Made a credit sale to customer 4 of printers 575 00 August 11 th Made a credit sale of other to customer 7 115 00 August 12 th Made a cash sale of other Transferred money from the bank to the petty cash float 58 00 85 03 August 13 th Cash sale of printer 456 30 August 14 th Made a credit sale of printers to customer 5 230 00 August 16 th Purchased petrol, paying from petty cash (the only petty cash payment this month) Made a credit sale of others to customer 1 Made a credit sale of others to customer 4 18 00 150 00 400 00 August 17 th Made the following cash sales, which as immediately banked Printers Other Made a credit sale of computers to customer 3 384 23 34 50 2831 30August 18 th August 18th Made the following credit purchases Supplier 3 Supplier 4 Supplier 1 Supplier 4 Made a credit sale of others to customer 1 452 00 650 00 400 00 387 00 103 50 August 20 th Purchased a limited edition AC DC computer in a specially designed case to celebrate the anniversary of the release of For Those About to Rock 5000 00 August 22 nd Made the following credit purchases Supplier 3 Supplier 5 Paid supplier 1 by cheque Made a credit sale of others to customer 6 Made a credit sale of printers to customer 2 723 00 615 00 9472 00 100 00 286 35 August 23rd Made a cash sale of other Customer 5 paid us the amount outstanding Made a credit sale of printers to customer 8 Made a credit sale of printers to customer 7 50 00 108 10 730 25 853 30 August 24 th Made a credit sale of printers to customer 1 776 25 August 25 th Cash sale of other Made a credit sale of others to customer 2 67 87 345 00 August 26 th Returned faulty goods to supplier 5 85 0 Required 1 Record the above transactions in the books of original entry (day books) and from there make the relevant entries in the ledgers (nominal, sales and purchases) that you consider Kenny should keep (ignore VAT) Do not forget the opening balances in the nominal ledger

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Nominal Ledger opening balances as at August 1st 2021 Bank 10,000 Van 15,000 Fixtures and fittings 6,000 irrecoverable debts 1,000 Trade Receivables 2,000

Nominal Ledger opening balances as at August 1st 2021

£ £

Bank 10,000

Van 15,000

Fixtures and fittings 6,000

irrecoverable debts 1,000

Trade Receivables 2,000

Purchases 18,000

Sales 25,000

Trade Payables 4,000

Capital 23,000

Bob classifies his sales as either computer sales, printer sales or 'other sales'. Other sales are items such as software, paper, keyboards etc.

August 2021 Transactions

August 1^st 2021

Transferred personal savings to the business bank account.
Paid a deposit on the premises by cheque
Completed the purchase of the business premises at High Street, Treforest, Pontypridd. The mortgage of £70,000 has been arranged with the bank. The bank repayments are £700 per month, payable by direct debit. This will go out on the 25^th of each month. The payments represent a figure for interest of £585 and a repayment of capital of £115
Bob transferred his personal van to the business, valued at £6,000

50000.00

30000.00

6000.00

August 2^nd
Transferred from the bank account to petty cash Purchased carpets for the office and shop from Caring Carpets Ltd on credit. Purchased goods for resale, paying from the bank account	100.00 1280.60 3,000
August 3^rd
Purchased desks, chairs and filing cabinets for the office from Office Supplies Ltd	4631.20
Made the following payments by cheque BT telephone connections Insurance (for 12 months) Second hand shop equipment for the office and shop, purchased from Traders second hand office equipment Ltd Advertising , arranged by JW Promotions Ltd	150.00 423.05 1558.32 1200.00
August 4^th
Purchased catalogue and promotional printing from Publicity printers Ltd on credit Purchased office stationary on credit from Highwood printers	1534.00 232.00
August 5^th	£
Made the following credit purchases Supplier 1 Supplier 2	9472.00 3473.66

August 6^th Made the following credit sales Sale of other to customer 1 Sale of other to customer 2 Sale of printers to customer 3	700.00 800.00 250.00
August 8^th Made the following credit sales Sale of other to customer 5 Sale of printers to customer 4	108.10 286.35
August 9^th
Made the following credit sales Sale of other to customer 1 Sale of computers to customer 6 Sale of computers to customer 2	115.00 1311.00 4222.80
August 10^th
Made a credit sale to customer 4 of printers	575.00
August 11^th Made a credit sale of other to customer 7	115.00
August 12^th
Made a cash sale of other Transferred money from the bank to the petty cash float	58.00 85.03

August 13^th
Cash sale of printer	456.30
August 14^th Made a credit sale of printers to customer 5	230.00
August 16^th
Purchased petrol, paying from petty cash (the only petty cash payment this month) Made a credit sale of others to customer 1 Made a credit sale of others to customer 4	18.00 150.00 400.00
August 17^th
Made the following cash sales, which as immediately banked Printers Other Made a credit sale of computers to customer 3	384.23 34.50 2831.30August 18^th
August 18th
Made the following credit purchases Supplier 3 Supplier 4 Supplier 1 Supplier 4 Made a credit sale of others to customer 1	452.00 650.00 400.00 387.00 103.50
August 20^th Purchased a limited edition AC/DC computer in a specially designed case to celebrate the anniversary of the release of For Those About to Rock.	5000.00
August 22^nd
Made the following credit purchases Supplier 3 Supplier 5 Paid supplier 1 by cheque Made a credit sale of others to customer 6 Made a credit sale of printers to customer 2	723.00 615.00 9472.00 100.00 286.35
August 23rd
Made a cash sale of other Customer 5 paid us the amount outstanding Made a credit sale of printers to customer 8 Made a credit sale of printers to customer 7	50.00 108.10 730.25 853.30
August 24^th Made a credit sale of printers to customer 1	776.25

August 25^th

Cash sale of other
Made a credit sale of others to customer 2

67.87

345.00

August 26^th

Returned faulty goods to supplier 5

85.0

Required:

1. Record the above transactions in the books of original entry (day books) and from there make the relevant entries in the ledgers (nominal, sales and purchases) that you consider Kenny should keep (ignore VAT). Do not forget the opening balances in the nominal ledger.

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DATE PARTICULARS DEBIT CREDIT 01082021 Bank Ac dr 50000 To Capital ac 50000 Deposit ac dr 30000 To Bank ac 30000 Business Premises ac 6000 To Bank ac ... blur-text-image