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  • P.O.a Ka Practice Q 1

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    king heart
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    A business started with $7,000 cash in the bank. It purchased $500 of furniture and had $2,000 of cash purchases and $600 of credit purchases. It had $3,500 of cash sales and $700 of credit sales. The business paid $1,500 rent for 15 months, $400 in cash salaries, and $100 of $120 total utility bills.

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    P.O.a Ka Practice Q=1

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    A business started with $7,000 cash in the bank. It purchased $500 of furniture and had $2,000 of cash purchases and $600 of credit purchases. It had $3,500 of cash sales and $700 of credit sales. The business paid $1,500 rent for 15 months, $400 in cash salaries, and $100 of $120 total utility bills.

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    © All Rights Reserved
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    13 views1 page

    P.O.a Ka Practice Q 1

    Uploaded by

    king heart
    A business started with $7,000 cash in the bank. It purchased $500 of furniture and had $2,000 of cash purchases and $600 of credit purchases. It had $3,500 of cash sales and $700 of credit sales. The business paid $1,500 rent for 15 months, $400 in cash salaries, and $100 of $120 total utility bills.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Question # 1

    Q: Pass double entries (Dr. & Cr.), make ledger accounts and, prepare trial
    balance as at 31st December 2017 from the following details.

    1. Started business with capital in Bank of $7,000


    2. Bought furniture of $500
    3. Cash purchases of $2,000
    4. Credit Purchases $600
    5. Cash sales of $3,500
    6. Credit Sales $700
    7. Paid rent of $1500 on first day of the accounting year for 15 months
    8. Paid salaries in cash $400
    9. Total utility bills for the year 2017 are $120. However, only $100 is paid
    in cash.

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