Question
You are to enter the following transactions in the books of PP Enterprise, post to accounts, balance off the accounts, extract a trial balance and
You are to enter the following transactions in the books of PP Enterprise, post to accounts, balance off the accounts, extract a trial balance and prepare profit or loss statement and balance sheet as on July, 2016
1. Credit purchases from: K Hill 380; M Norman 500; N Senior 106,: R Morton 200; J Cook 180; D Edwards 410; C Davies 66.
2. Credit sales to: E Rigby 510; E Phillips 246; F Thompson 356, A Green 307; H George 250; J Ferguson 185.
3. Returns outwards to: M Norman 30; N Senior 16.
4. Returns inwards from: E Phillips 18; F Thompson 22.
5. Credit sales to: E Phillips 188; F Powell 310; E Lee 420
6. Credit purchases from: C Ferguson 550; K Ennevor 900.
7. Returns inwards from: E Phillips 27; E Rigby 30.
8. Returns outwards to: J Cook 13; C Davies 11.
9. Credit sales: T Thompson 56; L Rodriguez 148; K Barton 145.
10. Credit purchases: P Potter 144; H Harris 25; B Spencer 76, B Perkins 24; H Harris 58; H Miles 123
11. Credit sales: K Kelly 89; N Mendes 78; N Lee 257.
12. Goods returned by us to: P Potter 12; B Spencer 22.
13. Goods returned to us by: T Thompson 5; K Barton 11; K Kelly 14.
14. Credit purchases: H Harris 54; B Perkins 65; L Nixon 75.
15. Goods returned by us to B Spencer 14.
16. Credit sales: K Mohammed 57; K Kelly 65; O Green 112.
17. Goods returned to us by N Mendes 24.
18. Credit sales: N Lee 55.
19. Credit purchase from F Bean 324.
20. Credit purchases from the following: A Clerk 216; B Lock 322; F Turner 64; G Rill 130
21. Goods returned by us to the following: F Bean 56; A Clerk 28.
22. Credit purchase from B Lock 140.
23. Credit purchases from the following: J Top 230; I Gray 310; F Low 405; P Able 180.
24. Goods returned by us to the following: I Gray 140; B Lock 34.
25. Received a further loan from B Barclay by cash 500.
26. Credit purchases from: F Turner 174; T Burns 230.
27. Credit sales to: B Dock 240; M Ryan 126; G Soul 94; F Trip 107.
28. Credit sales to: P Coates 182; L Job 203; T Mann 99
29. Goods returned to us by: B Dock 19; F Trip 32
30. Bought goods for cash 550.
31. Bought goods on credit from: T Dry 800; F Hood 930; M Smith 160; G Low 510.
32. Bought stationery on credit from Buttons Ltd 89.
33. Sold goods on credit to: R Tong 170; L Fish 240; M Singh 326; A Tom 204.
34. Paid rent by cheque 220.
35. Bought fixtures on credit from Chiefs Ltd 610
36. Paid salaries in cash 790.
37. Returned goods to: F Hood 30; M Smith 42.
38. Bought van by cheque 6,500.
39. Received loan from B Barclay by cheque 2,000.
40. Goods returned to us by: R Tong 5; M Singh 20.
41. Cash sales 145.
42. Sold goods on credit to: L Fish 130; A Tom 410; R Pleat 158.
43. We paid the following by cheque: F Hood 900; M Smith 118.
44. Received cheques from: R Pleat 158; L Fish 370.
45. Received 614 cash from A Tom.
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
