Question
show all working out Marsha is a sole trader who has hired you to take care of his books. He has provided you with the
show all working out
Marsha is a sole trader who has hired you to take care of his books. He has provided you with the following transactions for the month:
2021 |
|
January |
|
3 | Started Business with a capital of $6,400 in the bank and $5,600 in cash. |
4 | Bought goods on credit from the following persons: Brown $2,000 |
5 | Sold goods on credit to Jane $4500 |
6 | Paid Rent by cash $1,000. |
9 | Jane paid $1,500 on her account by cheque |
12 | We paid the following by Brown $600 by cheque |
31 | Took $500 from the bank for personal use. |
Required:
a. Record the transactions for the month in the:
i. General journal
ii. Ledgers
b. Extract a trial balance as at January 31, 2021
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