Question 1: Wellinton Sole Proprietorship Business On 1 January 20 '5, Mr. Wellinton started business Weliware Ventures with GH10,000 which he paid into the business account at Stanbic Bank in Accra and Stock of goods valued at GH9,850. On the same day, he purchased a Motor Van from Toyota Company valued at GH6,000 and paid half of the amount by cheque. The following transactions took place in the month of January: 2/01 Negotiated a Loan from Stanbic for an amount of GH20,000 which was granted at an interest of 12% per annum payable monthly. Paid GH7,000 by cheque as rent advance to his landlord for the premises of the business covering a period of 10 years. 3/01 Purchased goods from GeeMerchants Ltd valued at GH52,000 and paid for half of the amount by cheque, after a cash discount of 4% 4/01 Purchased Office Equipment valued at GH2,500 and Furniture and Fittings valued at GH3,000 paying all by cheque. 7/01 Sold goods valued at GH8,500 for cash and paid for some stationery valued at GH900 by cash. 9/01 Sold goods to Mr. Tarzan valued at GH6,700 who paid three quarter of the amount by cheque. 11/01 In order to increase sales Mr. Wellinton decided to run a promotion from 12th January to 20th January. All sales with cash payment will be given a 5% discount and all sale of GH10,000 and above will qualify for a trade discount of 6%. 12/01 Mr. James Brown came to purchase goods valued at GH14,500 and paid half of the amount due by cheque, after necessary discounts. Total cash sales for the day also amounted to GH8,974 13/01 Sold goods valued at GH5,000 to Akua Cynthia 14/01 Total cash sales for the day amounted to GH12,896 and cash banked amounted to GH14,500 15/01 Sold goods to Malik Baako Ventures valued at GH16,785 who paid half of the amount due by cash. Sent GH16,500 from the safe to bank. 18/01 Purchased goods from K. Gyasi Ltd valued at GH37,880 and paid half of the amount due by cheque after a 5% cash discount. Total cash sales for the day amounted to GH9,678 19/01 Sold goods to Honey Love valued at GH18,964, who paid three quarters of the amount due by cheque. Paid GeeMerchants the full balance on their account by cheque. 20/01 Total cash sales for the day amounted to GH18,259 and cash purchases were also GH8,689. Received a cheque for GH4,680 from Akua Cynthia as full settlement. 22/01 Sold goods valued at GH11,380 to Mr. Ugly Head who paid half of the amount due by cash. Total cash lodged at the bank was GH33,860 25/01 Paid K. Gyasi GH8,940 by cheque on account and received final payment by cheque from Malik Baako Ventures and cash sales amounted to GH11,380. 30/01 Paid salaries of GH3,820 by cheque and utility bills of GH860 by cash. Received a cheque for GH3,240 from Mr. Ugly Head as payment on account. At 31 January 20 5 closing stock amounted to GH5,375. Requirements (a) (b) (c) Write up the ledger accounts using the three column cash book. Extract a trial balance at 31 January 20 '5 Prepare a trading and profit and loss account for the months ended 31 January 20 5 and a balance sheet at that date.