Q1 Prepare the T Accounts for DW Ltd for October 2020 and trial banlance

78 Q1 The following transactions relate to DW Ltd - during October 2020, which is its first month of business. - The business has two shareholders Joe and Jill and employs 20 members of staff. Oct Transaction 1e Joe invests 255,000 cash into the business. 22 Vehicles are bought for 295,750 on 30 Day credit terms from TC Harrison Ltd. 22 A purchase is received from supplier Shepherd Ltd to be paid for in 21 Days for 47,0654 22 An invoice for Business Rates was received for 13,065 to be paid on 28th October 2e A cash purchase was made from Richardson Ltd for 35,250 32 Cash sales of 17,345 were made to Rexel Ltd. 3e A credit sale was made to Ulsterbus plc, due in 14 days for 18,3052 5e One member of staff goes pays 1,085 for stationery. Jill invested 375,000 into the business. 8e An electricity invoice for 15,601 was received, to be paid for immediately. Cash Sales of 9,587 were made. 102 Hughes Transport Ltd paid 450,000 for a Building to run the business from. 11e An invoice for water rates for 3,056 was received, to be paid immediately." 12e The manager pays rent via DD of 11,645 per month. It is payable on 10th of each month. 13e Credit sales were made to Ulsterbus plc for 14,6450 15e A credit sale was made to Stabilo plc on 21 days terms for 21,0684 There was another purchase on the same terms from Shepherd Ltd for 23,0452 BT sent a phone invoice of 3,645 to be paid for immediately. 17e Cash Sales of 22,163 were made. 21e Joe was unhappy with the quality of some product received and returned 20% of Shepherd Ltd's second delivery. 24e Invoice received for 175,000 for Equipment. This is due to be paid in 14 days time. 25e A bank loan of 275,000 was received from HSBC. 262 Cash sales of 32,000 were made. 28 Staff are paid wages of 31,601 302 Another sale for 8,015 was made to Ulsterbus plc on the same terms. 31e Rexel sent back to you 45% of the sale from earlier in the month. 31e Cash sales of 17,345 were banked 152 162