LEDGERS YEAR 9

[Homework]

1. The following are the transactions of Ee Wei for the month of April 2011:
2011
Apr 1 Balance owed by Aisha, $1,600.
4 Aisha bought goods goods from Ee Wei at the list price of $5,000 less 15% trade
discount.
9 Aisha returned faulty goods at the list price of $300. These goods were part of the
goods purchased on 4 April.
20 Aisha paid by cheque for the amount owing on 1 April.
29 Ee Wei sold goods on credit to Aisha at a net price of $1,500.

REQUIRED
Prepare the account of Aisha in the books of Ee Wei for the month of April 2011 and the balance the account
as at 30 April 2011. Dates and details must be shown clearly. [6]

……………………………………………………………………………………………………………………

2. Gerome buys goods on credit from Vela. The following transactions took place in July 2017.

July 1 Balance due to Vela $460

4 Gerome paid Vela by cheque the amount owing on 1 July, less 5% discount
11 Vela sold goods to Gerome, list price $1,100, less 20% trade discount.
15 Gerome returned goods bought on 11 July, list price $120.
25 Vela sold goods to Gerome, net price $400; transport costs of $40 were
charged.

REQUIRED
(a) Prepare Vela’s account in Gerome’s ledger for July 2017; balance the account at 31 July.
Dates and details must be shown clearly. [8]
(b) In which ledger of Gerome would you find Vela’s account? [1]