Question 3

Prepare a Trial balance from the following transaction below. (20 marks)

Capital $ 49 000

Drawings $ 2 647

Loan $ 9000

Equipment $ 14 600

Accumulated depreciated on equipment $ 2680

Vehicles $ 34 500

Accumulated depreciation on vehicles $ 7 360

Accounts receivable $ 6 435

Allowance for doubtful debts $ 290

Trading Inventory $20 230

Bank $18 907

Sales 102 359

Returns inwards $ 3624

Purchases $ 49 085

Freight of purchases $ 6 485

Packaging materials $ 1 894

Bad debts $ 214

Wages 47 555

Rent $ 3 619

Telephone $ 894

9 Costs of erecting new machine 10 Fire insurance Question 3 Prepare a Trial balance from the following transaction bellow. (20 Marks) Capital $49 000, Drawings $2 647, Loan $9 000, Equipment $14 600, Accumulated depreciation on equipment $2 680, Vehicles $34 500, Accumulated depreciation on vehicles $7 360, Accounts receivable $6 435, Allowance for doubtful debts $290, Trading Inventory $20 230, Bank $18 907, Sales $102 359, Returns inwards $3 624, Purchases $49 085, Freight of purchases $6 485, Packaging materials $1 894, Bad debts $214, Wages 47 555, Rent $3 619, Telephone $894 Question 4 Dr Mutasa started a new business on 1 January 2017. The following transactions took place during his first month in business. 2017 1.1 Started business with N$10000 in cash. 1.2 Put N$8000 of the cash into the business bank account 1.3 Bought a van on credit from Sensei's Kung-Fu Dojo for N$3000 1.4 Paid rent $1000 by cheque 1.5 Bought goods on credit from Roy limited for N$4000 1.6 Paid shop expenses N$1500 by cheque 1.7 Sold goods on credit to Scott Company 1.8 Paid Perkin N$3000 by cheque 1.9 Received a cheque from Scott Company for N$2000 1.10 Paid Roy limited N$500 by cheque 1.11 Bought goods for N$3000 from Roy limited on credit 1.12 Cash sales N$2000 3