Exercise 1

Date (April 2015) Details Amount (frs)

April 1 Nkeng starts business with cash 20,000

April 2 He buys goods for cash 15,000
April 4 He buys goods from Ngu on credit 6,000
April 5 Furniture is purchase for cash 1,000
April 9 Cash sales 1,500
April 11 Goods sold on credit to Percy 4,000
April 16 Payment made to Ngu 6,000
April 19 Cash sales 4,300
April 21 Purchase of stationary for cash 120
April 25 Sales on credit to Ayuk 1,770
April 30 Rent for the month paid in cash 1,500
April 30 Cash received from Percy on 2,000
Account

Required:
a) Post the above transactions into the various ledger accounts
b) Prepare a trial balance

Execise 2

Date (May 2015) Details Amount (frs)

May 1 Commenced business with cash 250,000

May 5 Purchase furniture for cash 20,000
May 8 Cash purchases 150,000
May 9 Cash deposited to the bank 30,000
May 10 Bought goods from Perry 40,000
May 14 Goods sold to Britney for cash 14,000
May 15 Stationary purchased 1,000
May 17 Bought goods from Fortzin 26,000
May 19 Sold goods to Carel 8,000
May 22 Rent for two years paid in cash 24,000
May 23 Drawings by proprietor for household expenses 4,000
May 24 Cash withdrawn from the bank 25,000
May 25 Sold goods to Mufor on credit 9,000
May 28 Purchase of goods by cheque 2,900
May 30 Cash received from Percy on Account 10,000
May 30 Cash paid to Fortzin 24,700
Required:
a) Journalized the above transaction
b) Post the above transactions into the various ledger accounts
c) Prepare a trial balance