1
Louise Baldwin commenced business as a wholesaler on 1 March 2009.
Her sales on credit during March 2009 were:
March 9 Neville’s Electrical
4 computer monitors list price £180 each, less 20% trade discount
March 17 Maltby plc
20 computer printers list price £200 each, less 25% trade discount
March 29 Neville’s Electrical
Assorted software list price £460, less 20% trade discount
All transactions are subject to Value Added Tax at 10%.
(a)
Rule up a sales
day book and head the main columns as follows.
Date Name and Details List price less trade discount VAT Total
£–p £–p £–p
Enter the above information in the sales day book, totalling and ruling off at the end of March
2009.
(b) Make the necessary postings from the sales day book to the personal and nominal accounts in
the ledger.
(c) Prepare a trial balance as at 31 March 2009.
(Edexcel Foundation, London Examinations: GCSE)