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9 Ledger WS

Mona started a business on January 1, 2018. In the first two weeks, various transactions occurred including purchasing and returning goods from suppliers, selling goods to customers, receiving payments, withdrawing cash, and paying expenses such as rent and wages. The document provides details of these transactions that need to be recorded in the appropriate ledger accounts and balances calculated.

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Saeed Mahmood
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91 views

9 Ledger WS

Mona started a business on January 1, 2018. In the first two weeks, various transactions occurred including purchasing and returning goods from suppliers, selling goods to customers, receiving payments, withdrawing cash, and paying expenses such as rent and wages. The document provides details of these transactions that need to be recorded in the appropriate ledger accounts and balances calculated.

Uploaded by

Saeed Mahmood
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Mona started business on 1 January 2018.

Following transections took place in first two weeks of


trading.

January 1 Capital $20 000 was paid into business bank account.
Paid rent $550 by cheque.
2 Bought goods on credit from Mohammad $3 300, Asawar $ 2570
4 Returned goods to Mohammad $ 410, Asawar $ 50
7 Sold goods on credit to Aswan Traders $1 700, T Thomas $3 600.
9 Received $120 commission by cheque.
10 Paid Mohammad $ 2500 and Asawar $ 2000 by cheque.
12 Aswan Trader returned goods to us $90
Received $ 1000 from Aswan Traders and $ 3000 from T Thomas by cheque.
13 Cash Sales $1000
Cash withdrew for personal use $500
14 Paid sundry expenses $20 in cash
Paid wages $ 500 and rent $ 700 by cheque.

Required:

Entre above transections in the ledger of Mona. Balance the accounts.

Bank Account

Date Detail $ Date Detail $


2018 2018

Capital Account

Date Detail $ Date Detail $


2018 2018

Purchases Account

Date Detail $ Date Detail $


2018 2018
Purchases Return Account

Date Detail $ Date Detail $


2018 2018

Sales Account

Date Detail $ Date Detail $


2018 2018

Sales Return Account

Date Detail $ Date Detail $


2018 2018

Cash Account

Date Detail $ Date Detail $


2018 2018

Sundry Expense Account

Date Detail $ Date Detail $


2018 2018
Drawings Account

Date Detail $ Date Detail $


2018 2018

Rent Account

Date Detail $ Date Detail $


2018 2018

Wages Account

Date Detail $ Date Detail $


2018 2018

Commission Income Account

Date Detail $ Date Detail $


2018 2018

Mohammad Account

Date Detail $ Date Detail $


2018 2018
Asawar Account

Date Detail $ Date Detail $


2018 2018

Aswan Traders Account

Date Detail $ Date Detail $


2018 2018

T Thomas Account

Date Detail $ Date Detail $


2018 2018

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