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SCENARIO 1 Mr. Tom has started a new business and has hired you to maintain his business transactions using double-entry bookkeeping system. Draw a trial
SCENARIO 1 Mr. Tom has started a new business and has hired you to maintain his business transactions using double-entry bookkeeping system. Draw a trial balance for the month ending 31st January, based on the following transactions 10th Mr Tom started business with 180,000 deposited in bank 11th He bought fixtures and fittings from Delta ltd for 25,000 12th Tom purchased goods by cheque, 12,000 13th He purchased goods from B. Sen & Co. for 15,000 14th Tom paid rent from bank account 7000 15th Cash sales 17,000 16th He purchased stationary for 2000 from X.Stationary Mart 17th Tom sold goods to Cris for 12,000 18th He bought machinery for 4,000 and payment by bank. 19th Goods returned by Cris for 4,000 20th Payment to B. Sen & Co. by cash 5,000 21th Withdrew from bank for personal use 3,000 22th Interest paid through cheque 2,000 23th Withdrew from bank for office expenses 10,000 24th Cash received from Cris 5,000 25th Tom paid electricity bill for 500 in cash 26th Cash sales for 6,000 27th Commission received by cheque 5,000
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