QUESTION 4: Problem 3.21. Preparation of running balance ledger accounts and trial balance (Non-GST version) On 1st October 2021, James Taylor decided to open Taylor's Tailormade that makes suits, trousers and jackets and repairs and alters clothes. He contributed for this purpose sewing equipment $38 000 and a commercial van $44 000, and deposited $20 000 cash in a business bank account. Transactions during October were as follows (ignore GST). 1 I October 4 Took a 3-year lease on a shop and paid first month's rent of $1800. 4 6 Purchased haberdashery supplies for $4200; paid with an electronic transfer of $1200 and paid for the rest with credit. Cash received for minor clothing repairs, $120. Revenue earned for tailor making a two-piece suit for Andrew Fraser on credit, $840. 7 Purchased a sewing machine, $3800, paying $800 cash and taking out a loan for the balance. 8 Cash revenue earned, $1260. 11 Engaged a sewer at an agreed wage of $1100 per week. 12 Paid petrol $120, postage $40, and electricity bill $420. 13 Cash of $200 received for over-the-counter repairs. Revenue of $1500 earned from a customer on credit. 14 Paid for haberdashery supplies purchased on credit on 4 October. 15 Withdrew $600 for own use. 16 Cash revenue received, $1850. 17 Haberdashery supplies purchased for $500 on credit. 18 Paid wages to employee. 21 Revenue earned for making clothes: cash $1340; on account $2500. 23 Andrew Fraser paid the bill for services rendered on 6 October. 24 Petrol expenses paid, $80. 25 Paid weekly wages to employee. 28 Revenue earned for clothes $2420, receiving $200 in cash and the remainder on credit. 31 Haberdashery supplies used, $620. REQUIRED (a) Make the journal entries to record thee transactions for October. Hint: ensure you include the original contributions made on October 1st. (b) Prepare running balance ledger accounts. Give each account a suitable account number. As an example, the first two entries to the Cash at Bank ledger are shown below. Account: Cash at Bank Account No. 100 Date 2121 Explanation Debit Credit Balance

QUESTION 4: Problem 3.21. Preparation of running balance ledger accounts and trial balance (Non-GST version) On 1st October 2021, James Taylor decided to open Taylor's Tailormade that makes suits, trousers and jackets and repairs and alters clothes. He contributed for this purpose sewing equipment $38000 and a commercial van $44000, and deposited $20000 cash in a business bank account. Transactions during October were as follows (ignore GST). October 4 Took a 3-year lease on a thop and paid first month's rent of $1800. 4 Purchased haberdashery supplies for 54200 ; paid with an electronic trander of 51200 and paid for the rest with credit. 6 Cash recelved for minor clothing repairs, 5120 . Revenue earned for tailor making a two-piece suit for Andrew Fraser on credit, 5840. 7 Purchased a sewing machine, $3600, paying $900 cash and taking out a loan for the balance. 8. Cashrevenue eamed, 51260 . 11. Engaged a sewer at an azreed wape of $1100 per week. 12 Paid petrol $120, postage $40, and electricity bill $420. 13 Cash of 5200 recelved for over-the-counter repain. Revenue of 51500 earned from a customer on credit. 14 Paid for habendashery supplies purchased on credit on 4 October. 15 Withdrew 5600 for own use. 16 Cash revenue received, 51850. 17 Haberdashery supplies purchased for 5500 on credit. 16 Paid wages to employes. 21 Revenue earned for making clothes: cash 51340 ; co account $2500. 23 Andrew fraser paid the bill for services rendered on 6 octobec. 24 Petrol expenses paid, 560. 25 Paid weekly wages to employte. 25 Revenue earned for clothes 52420 , recelving 5200 in cash and the remainder on credic. 31 Haberdashery supplies used, S520. REQUIRED (a) Make the journal entries to record thee transactions for October. Hint: ensure you include the original contributions made on October 1 R. (b) Prepare running balance ledger accounts. Give each account a suitable account number. As an example, the first two entries to the Cash at Bank ledger are shown below