Question
The following are the purchases daybook, and the purchases returns daybook for the business for the month of January 2021. Purchases Daybook Date Creditor Net
The following are the purchases daybook, and the purchases returns daybook for the business for the month of January 2021.
| Purchases Daybook | ||||
| Date | Creditor | Net (BD) | VAT (BD) | Gross (BD) |
| Jan 02, 2021 | Karama plc | 500 | 25 | 525 |
| Jan 23, 2021 | Karama plc | 360 | 18 | 378 |
| Jan 24, 2021 | Sabeel Ltd | 840 | 42 | 882 |
| Purchases Returns Daybook | ||||
| Date | Creditor | Net (BD) | VAT (BD) | Gross (BD) |
| Jan 12, 2021 | Karama plc | 60 | 3 | 63 |
| Jan 29, 2021 | Sabeel Ltd | 40 | 2 | 42 |
From the above daybooks, you are required to:
- Prepare the following creditors accounts for the month of January in the provided format, showing the balance of the account at the end of the month. (7 marks)
| Karama plc | |||
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| Sabeel Ltd | |||
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The following is the Sales daybook, for the business for the month of February 2021.
| Sales Daybook | ||||
| Date | Debtor | Net (BD) | VAT (BD) | Gross (BD) |
| Feb 11, 2021 | Alsedri Tradings | 4,200 | 210 | 4,410 |
| Feb 19, 2021 | Almarzooq co | 3,800 | 190 | 3,990 |
| Feb 28, 2021 | Alhaddad plc | 2,600 | 130 | 2,730 |
| Total | 10,600 | 530 | 11,130 | |
- Apply the rules of double entry bookkeeping to show the entries required in the general ledger for the above sales daybook. (6 marks)
| General ledger | ||
| Ledger Account | Debit(BD) | Credit(BD) |
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