Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is a list of transaction relates to Wusakile womens club for the month of October 2017. 01.10.2017 started the business with $ 10,000

The following is a list of transaction relates to Wusakile womens club for the month of October 2017.

01.10.2017 started the business with $ 10,000 in cash

02.10.2017 paid $8,000 held in cash into a business bank account

10.10.2017 purchased salt for $ 1,000 paid cash

10.10.2017 purchased more salt costing $6,000 on credit from Bakopala

12.10.2017 Cash sales of $3,000

15.10.2017 Goods sold on credit terms to Nkana East for $ 4,000

20.10.2017 The kasama swag womens club settles Bakopala account by cheque

30.10.2017 received a cheque of $ 2,000 from Nkana East as part paymen

Required

a)Enter the above transaction in Wusakile Womens club ledger account and balance them off.

b)Then extract Wusakile Womens club Trial Balance as at 30th October 2017.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions