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. :)
Originally posted by Jessie bear 84: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. :)
Are you asking people to do the homework for you ?
The double entries for the above transactions are very straightforward and easy.
Just use the CALER method to do the double entries.
For the 1st transaction to start business with cash,
Cash is asset and the cash is contributed by the owner ie Capital.
So, debit cash account and credit capital account.