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Question 2 Alex started business as a sole trader on February 2, 2020. The following information relates to the business during the first month: February

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Question 2 Alex started business as a sole trader on February 2, 2020. The following information relates to the business during the first month: February 2: Started business with GHC8,000 in the bank. 3: Received a loan of GHC4,000 from SSB Ltd, by cheque. 5: Bought premises by cheque GHC3,500.0 6; Bought Motor vehicle GHC3,000 on credit from Toyota Ltd. 8; Bought Office furniture by cheque GHC1, 500 11: Withdrew an amount of GHC4,000 from the bank for business used. 15; Bought additional motor vehicle, on credit from Japan Motors for GHC2000. 20: Paid the amount owing to Toyota Ltd in full by cheque. 22: Took GHC 2000 out of the cash safe and put it into the bank. 23: The proprietor withdrew GHC650 cash for his private use. 25: Paid part of SSB Ltd's Loan by cash GHC1000 30; Bought office furniture by cheque GHCI, 250 Required a) Post the transactions to the assets, capital and liabilities accounts in the books of Alex Major Topic: Double System for Asset, Capital & Liabilities Blooms Designation: CR Score: 15 b) Balance off the respective accounts Major Topic: Balance off Blooms Designation: EV Score: 5 TOTAL SCORE: [20 MARKS]

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