Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prom the following information you are required to prepare the relevant ledger account for Minn Lizza May Iat She introduced Kah150,000 into her business and

Prom the following information you are required to prepare the relevant
ledger account for Minn Lizza
May Iat
She introduced Kah150,000 into her business and on the same
May 2nd
Bought good worth Kah 15000
May 3rd
She bought furniture worth Kah 15000 and paid in cash
May 4th
Sold good worth Ksh5000 and received cash
May 5th
Bought more stock worth Ksh13000 and paid in cash
May 10th
Sold goods and received a cheque of Kah 7300
May lIth
Sold on credit to Mike worth Ksh 21000
May 12th
Bought goods from XYZ on credit worth Kshs 16900
May 15th
Sold goods and received cash Ksh17000
May 21st
Bought a motor car for transporting, goods from ABC motors and
cheque and the balance
to be settled later.
May 23rd
Sold goods worth Kshs 12900 on credit
May 27th
Bought goods and paid using cheque for Kshs45000
May 28th
Paid his rent which had accrued for 2 month and also 3 months in
using a cheque
owing information you are required to prepare the relevant
ledger accounts for Miss Lizza.
She introduced Ksh150,000 into her business and on the same
Bought goods worth Ksh 15000
She bought furniture worth Ksh 15000 and paid in cash
old goods worth Ksh5000 and received cash
ought more stock worth Ksh13000 and paid in cash
old goods and received a cheque of Ksh 7300
old on credit to Mike worth Ksh 21000
ought goods from XYZ on credit worth Kshs 16900
ld goods and received cash Ksh17000
ought a motor car for transporting goods from ABC motors and
e balance
to be settled later.
old goods worth Kshs 12900 on credit
ught goods and paid using cheque for Kshs45000
id his rent which had accrued for 2 month and also 3 months in
ledger account

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

Step: 3

blur-text-image

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

Accounting A Smart Approach

Authors: Mary Carey, Cathy Knowles, Jane Towers-Clark

3rd Edition

0198745133, 978-0198745136

More Books

Students also viewed these Accounting questions

Question

4. When is it appropriate to show grace toward others?

Answered: 1 week ago