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| | |-+  i need help wit dis question it is not balancing
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Author Topic: i need help wit dis question it is not balancing  (Read 781 times)
ghost616
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« on: November 07, 2010, 02:46:03 PM »

help me wit dis i am new to accounts



A/C                                 Type of A/C                  + increase                   - decrease
Cash         
Bank         
Motor car         
Land         
Sales         
Depreciations         
Purchases         
Sundry expenses         
Rent         
capital         

You are required to:
1.   Record the transaction in ledger accounts.
2.   Balance off all accounts.
3.   Prepare trial balance as at 31 dec 2009
a.   Bought goods on credit from A. Smith on credit $8000
b.   Injected further capital into the business of $50,000
c.   Sold goods to C. Tomas for $10,000 giving a discount of 10%
d.   Sold goods on credit to S&S Ltd $3,000
e.   Paid A. Smith $5,000
f.   Bought machinery for $150,000 from J&S engineering on credit
g.   Received commission from central government services Ltd $10,000
h.   Purchased $5,000 worth of goods paying by cheque
i.   Sold $3,000 goods to J&S on credit
j.   J&S returned $1,000 worth of goods due to wrong specification
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