Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Zapatero Ltd. Following information has been extracted from the books of Zapatero Ltd. for the month of Jan 2017 DATE DESCRIPTION Jan 1, 2017 Started

image text in transcribed
Zapatero Ltd. Following information has been extracted from the books of Zapatero Ltd. for the month of Jan 2017 DATE DESCRIPTION Jan 1, 2017 Started business with bank balance : 40,000, Building 90,000 and Furniture 5,000 Jan 2, 2017 Purchased goods costing 20,00 on credit from AFF Ltd. Jan 3, 2017 Sold goods for 5,000 on cash Jan 4, 2017 Purchased Office Stationery for cash 2,00 Jan 4, 2017 Deposited 3,000 cash in the business bank account Jan 5, 2017 Sold goods on credit to R & S Ltd. and K & S Ltd. for 4,000 and 1,000 respectively Purchased goods with list price 1,600 on credit from D & S Ltd. and get a trade discount 5% Jan 15, 2017 Donated goods costing 2,000 as a charity Jan 16, 2017 R & S Ltd. and K & S Ltd. in full through cheque which was immediately deposited in the bank account Jan 20, 2017 Purchased office supplies for 500 Jan 22, 2017 Paid AFF Ltd. in full through cheque Jan 25, 2017 Paid 5,000 for salaries and wages through bank Jan 30, 2017 Paid insurance 500 through cheque Jan 31, 2017 Paid Office rent 1,000 through cheque Required: 1) Journal Entries for the above business transactions. 2) Ledger Accounts 3) Trial Balances for the month of Jan 2017

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Forensic And Investigative Accounting

Authors: Professor D. Larry Crumbley, Lester E. Heitger, G. Stevenson Smith

8th Edition

0808046241, 9780808046240

More Books

Students also viewed these Accounting questions

Question

=+b) Should the company send the fact-finding trip? Explain.

Answered: 1 week ago

Question

Does your message use dishonest or misleading language?

Answered: 1 week ago

Question

Does your product/program have a descriptive and memorable name?

Answered: 1 week ago

Question

How could any of these nonverbal elements be made stronger?

Answered: 1 week ago