1
Record the following transactions for the month of January of a small finishing retailer,
Balance -off all the accounts, and then extract a trial balance as at 31 January 2008:
2008
Jan 1 Started in business with £10,500 cash.
2 Put £9,000 of the cash into a bank account.
3 Bought goods for cash £550.
4 Bought goods on credit from: T Dry £800; F Hood £930; M Smith £160; G Low £510.
5 Bought stationery on credit from Buttons Ltd £89.
6 Sold goods on credit to: R Tong £170; L Fish £240; M Singh £326; A Tom £204.
8 Paid rent by cheque £220.
10 Bought fixtures on credit from Chiefs Ltd £610.
11 Paid salaries in cash £790.
14 Returned goods to: F Hood £30; M Smith £42.
15 Bought van by cheque £6,500.
16 Received loan from B Barclay by cheque £2,000.
18 Goods returned to us by: R Tong £5; M Singh £20.
21 Cash sales £145.
24 Sold goods on credit to: L Fish £130; A Tom £410; R Pleat £158.
26 We paid the following by cheque: F Hood £900; M Smith £118.
29 Received cheques from: R Pleat £158; L Fish £370.
30 Received a further loan from B Barclay by cash £500.
30 Received £614 cash from A Tom.