The following statement of financial position reflected the financial position of Ulinzi Feeds as at 1^st October 2021.

Ulinzi Feeds

Statement of Financial Position

As at 1^st October 2021

Non Current Assets

Buildings 191,712

Current Assets

Trade Debtors 41,216

Prepaid Rent Expense 11,605

244,533

Financed By:

Capital 167,695

Current Liabilities

Bank Overdraft 38,200

Accrues Insurance Expense 14,320

Trade Creditors 24,318

244,533

The following transactions took place in the month of October 2021

04/10/2021: Made credit sales worth Kes 94,160

09/10/2021: Mr Phenes the proprietor withdrew Kes 16,500 from the business bank account for personal use

11/10/2021: Paid Insuarance Expense Kes 8,900 cash

14/10/2021: Made credit purchases worth Kes 64,800

26/10/2021:Paid Kes 58,104 cash to trade creditors

27/10/2021: Received an invoice of Kes 17,000 from the Landlord (Mr.General) in respect of the rent expense for the month of October 2021.

30/10/2021: Received Kes 27,400 cash from a debtor

Required:

1. Post the above transactions in the ledger accounts and balance off (5 Marks)

Extract a trial balance as t 30^th October 2021

The following statement of financial position reflected the financial position of Ulinzi Feeds as at 1^st October 2021.

Ulinzi Feeds

Statement of Financial Position

As at 1^st October 2021

Non Current Assets

Buildings 191,712

Current Assets

Trade Debtors 41,216

Prepaid Rent Expense 11,605

244,533

Financed By:

Capital 167,695

Current Liabilities

Bank Overdraft 38,200

Accrues Insurance Expense 14,320

Trade Creditors 24,318

244,533

The following transactions took place in the month of October 2021

04/10/2021: Made credit sales worth Kes 94,160

09/10/2021: Mr Phenes the proprietor withdrew Kes 16,500 from the business bank account for personal use

11/10/2021: Paid Insuarance Expense Kes 8,900 cash

14/10/2021: Made credit purchases worth Kes 64,800

26/10/2021:Paid Kes 58,104 cash to trade creditors

27/10/2021: Received an invoice of Kes 17,000 from the Landlord (Mr.General) in respect of the rent expense for the month of October 2021.

30/10/2021: Received Kes 27,400 cash from a debtor

Required:

1. Post the above transactions in the ledger accounts and balance off (5 Marks)

Extract a trial balance as t 30^th October 2021

question 2

The following financial transactions took place at Bosire shoes dealers during the month of January 2022

02/01/2022	Opening Cash account Kes 32,400 (DR) and bank account Kes 19,800( CR)
03/01/2022	Borrowed Kes 72,200 cash from Winnie
04/01/2022	Bought goods at Kes 19,900 on credit from Aisha
05/01/2022	Deposited Kes 31,650 cash in the bank
07/01/2022	Returned goods worth Kes 4,350 to Aisha
08/01/2022	Paid telephone expense at Kes 8,300 using a cheque
09/01/2022	Received a cheque of Kes 36,900 as rent income
10/01/2022	Made credit sales of Kes 24,300 to Sekundo
17/01/2022	Paid by Cash the full amount due to Aisha
27/01/2022	Received in cash form the amount due from Sekundo less 2% discount
28/01/2022	Made credit purchases worth Kes 40,500 from Abdi
29/01/2022	Paid by cheque the amount due to Abdi less 3% discount
31/01/2022	Deposited all the cash available in the business into the bank account except Kes 10,000

Required: Record the above transactions in a three column cash book as at 31/01/2022 ( 10 Marks)