Tuesday, January 15, 2013

Need help with business (accounting) related school work ...

I am having trouble with this. Double entry book keeping. Record following transactions for March. Balance off accounts and extract a trial balance as at 31st March

01/03 start business with ?3500 cash
02/03 put ?2800 into bank
03/03 bought goods for ?150 cash
04/03 bought goods for on credit from: M Wells ?360; K Ross ?490; P Davis ?110; D Shell ?340
05/03 bought stationary on credit from Finery Ltd ?170
06/03 Sold goods on credit to S Wilson ?90; C Corner ?150; K Stewert ?190; C Wiles ?160
08/03 Paid rent by cheque ?55
10/03 Bought Fixtures on credit from Sharps Ltd ?480
11/03 Paid salaries in cash ?120
14/03 Returned goods to K Ross ?40; P Davis ?60
15/03 Bought van by cheque ?700
16/03 Got loan from B Chad by cheque 600
18/03 goods returned to us by: S Wilson ?20; K Stewert ?40
21/03 Cash Sales ?90
24/03 Sold goods on credit to: C Corner ?100; C Wiles ?340; H Brown ?115
26/03 Paid the following by cheque: K Ross ?450; P Davis ?50
29/03 Received cheques from: H BRown ?115; C Corner ?250
30/03 Received further loan from B Chad by cash ?200
30/03 Recieved ?500 cash from C Wiles

I am really struggling with this task and would be grateful for the help. :)

Source: http://sgforums.com/forums/2297/topics/464438

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