0 ratings0% found this document useful (0 votes) 52 views2 pagesUntitled Document
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content,
claim it here.
Available Formats
Download as PDF or read online on Scribd
Name of account(s)_ Name of accounts)
todebit tocreait
rent account bank account
Paid rent by cheque. other expense account — bank account
2 Postage and stationery paid by cheque.
Telephone bill paid from the bank account by standing order telephone expense bank account
a account
‘7 Hesting and Hehting bill paid fvom the bank account by
standing order.
Paid wages by cheque wage account bank account
© Rentreceived directly into the bank account, bank account ent account
7 Bank interest received into the bank account, bank account savings account
8 Business owner takes money out of the bank account for
personal expenses drawing account bank account
9 Loan received from a friend, Lee bank account lee’ s account
410. Loan repayment made on the loan from Lee. lee account bank account
11. Purchases paid by debit card. purchase account bank account
12 Sold goods and banked the takings. bank account sales account
13 Returned goods to supplier and banked the refund, bank acount —_ purchase return account|
‘Refunded money to customer by cheque for goods retumied. sales return bank
‘Camiage inwards [2] paid by cheque. account account
cafriage inward acc bankace
BT ae carriage outward acc bank ace, Below are the financial transactions for Mira’s new business. Open the necessary ledger accounts and post
the following financial transactions to them. All transactions use the bank account.
June
1
we eran
‘Mira commenced business by paying $20 000 into her business bank account,
Mira then had the following financial transactions
Purchased machinery, $12 000.
aid rent for office space, $1 200.
Bought goods for resale, $4 000.
aid carriage inwards for delivery of goods supplied, $30.
Sold some goods for $3 500.
aid for heating and lighting, $200,
Received rent for subletting part of the office, $300.
Bought more machinery, $800,
Bought more goods for resale, $2 000.
10 Sold goods, $2 050.
‘Paid carriage outwards for delivery to customer, $50.
11 Repaid by cheque to customers for goods retumed, $100.
12 Bank interest received, $10. t
