Q9. On 1 October 20X9, the owner of the USS Enterprise, Mr Kirk, decided that he...
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Q9. On 1 October 20X9, the owner of the USS Enterprise, Mr Kirk, decided that he will boldly go and keep his records on a double entry system. His assets and liabilities at that date were: RM Fixtures and equipment 20,000 Stock including weapons 15,000 Balance at Universe Bank 17,500 Cash 375 Creditors - Spot 3,175 - Scott 200 500 -Choy Kirk's transactions during October were as follows: 1 Sold faculty phasers, original cost RM500, to Klingon Corp, for cash RM5,000 2 Bought Photon Torpedoes (weapons), on credit from Central Council RM2,500 3 Sold Stocks to Aardvarks, original cost RM250, on credit, RM1,500 4 Bought Cloaking Device (Fixture and Fittings) from Klingon Corp RM3,500 5 Paid the balance owed to Spock at 1 October less a 5% cash discount 6 7 8 Paid Central Council full amount due by cheque Received full amount due from Aardvarks by cheque Paid Klingon Corp by cheque after deducting 20% trade discount 9 Paid, by bankers' order, RM10,000 for repairs to Enterprise following disagreement over amount owing to Klingon Corp and faculty phasers. Required: Open Enterprise's ledger accounts at 1 October, record all transactions for the month, balance the ledger accounts, and prepare a trial balance as at 31 October. Q9. On 1 October 20X9, the owner of the USS Enterprise, Mr Kirk, decided that he will boldly go and keep his records on a double entry system. His assets and liabilities at that date were: RM Fixtures and equipment 20,000 Stock including weapons 15,000 Balance at Universe Bank 17,500 Cash 375 Creditors - Spot 3,175 - Scott 200 500 -Choy Kirk's transactions during October were as follows: 1 Sold faculty phasers, original cost RM500, to Klingon Corp, for cash RM5,000 2 Bought Photon Torpedoes (weapons), on credit from Central Council RM2,500 3 Sold Stocks to Aardvarks, original cost RM250, on credit, RM1,500 4 Bought Cloaking Device (Fixture and Fittings) from Klingon Corp RM3,500 5 Paid the balance owed to Spock at 1 October less a 5% cash discount 6 7 8 Paid Central Council full amount due by cheque Received full amount due from Aardvarks by cheque Paid Klingon Corp by cheque after deducting 20% trade discount 9 Paid, by bankers' order, RM10,000 for repairs to Enterprise following disagreement over amount owing to Klingon Corp and faculty phasers. Required: Open Enterprise's ledger accounts at 1 October, record all transactions for the month, balance the ledger accounts, and prepare a trial balance as at 31 October. Q9. On 1 October 20X9, the owner of the USS Enterprise, Mr Kirk, decided that he will boldly go and keep his records on a double entry system. His assets and liabilities at that date were: RM Fixtures and equipment 20,000 Stock including weapons 15,000 Balance at Universe Bank 17,500 Cash 375 Creditors - Spot 3,175 - Scott 200 500 -Choy Kirk's transactions during October were as follows: 1 Sold faculty phasers, original cost RM500, to Klingon Corp, for cash RM5,000 2 Bought Photon Torpedoes (weapons), on credit from Central Council RM2,500 3 Sold Stocks to Aardvarks, original cost RM250, on credit, RM1,500 4 Bought Cloaking Device (Fixture and Fittings) from Klingon Corp RM3,500 5 Paid the balance owed to Spock at 1 October less a 5% cash discount 6 7 8 Paid Central Council full amount due by cheque Received full amount due from Aardvarks by cheque Paid Klingon Corp by cheque after deducting 20% trade discount 9 Paid, by bankers' order, RM10,000 for repairs to Enterprise following disagreement over amount owing to Klingon Corp and faculty phasers. Required: Open Enterprise's ledger accounts at 1 October, record all transactions for the month, balance the ledger accounts, and prepare a trial balance as at 31 October. Q9. On 1 October 20X9, the owner of the USS Enterprise, Mr Kirk, decided that he will boldly go and keep his records on a double entry system. His assets and liabilities at that date were: RM Fixtures and equipment 20,000 Stock including weapons 15,000 Balance at Universe Bank 17,500 Cash 375 Creditors - Spot 3,175 - Scott 200 500 -Choy Kirk's transactions during October were as follows: 1 Sold faculty phasers, original cost RM500, to Klingon Corp, for cash RM5,000 2 Bought Photon Torpedoes (weapons), on credit from Central Council RM2,500 3 Sold Stocks to Aardvarks, original cost RM250, on credit, RM1,500 4 Bought Cloaking Device (Fixture and Fittings) from Klingon Corp RM3,500 5 Paid the balance owed to Spock at 1 October less a 5% cash discount 6 7 8 Paid Central Council full amount due by cheque Received full amount due from Aardvarks by cheque Paid Klingon Corp by cheque after deducting 20% trade discount 9 Paid, by bankers' order, RM10,000 for repairs to Enterprise following disagreement over amount owing to Klingon Corp and faculty phasers. Required: Open Enterprise's ledger accounts at 1 October, record all transactions for the month, balance the ledger accounts, and prepare a trial balance as at 31 October.
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