Use the journal to open the books of T Wai ,a sole trader. Then record the daily transactions for the month of July 2008 in the books of original entry.
2008
Jul 1 Assets: Buildings $120,000; Fixture$28,000; Motor vehicles$72,000;
Inventory$13,550;Accounts receivable: H Chow$4,400,T Sin$6,880,
L Ho$600;Cash at Bank$45,640;Cash in hand$1,700.
Liabilities: Loan from W Ming $40,000;Accounts payable: K Yip$1,200, T Ngai$5,430,
` W Lee$800.
1 Paid$1,330 by cheque for motor expenses.
2 Credit Sales to: T Sin$1,120, L Ho$1,000,H Chow$1,600.
4 T Wai put in $8,000 cash as capital.
6 Credit purchases from: T Ngai$700,W Lee$5,000, Lok Sauce Co$600,K Yip$2,000
8 Paid$167 in cash for postage.
11 Bought fixtures on credit from Superfitting Ltd for $10,000
14 Paid$1,200 by cheque for repairs.
16 Credit sales to: L Ho$1,900, W Young$3,400.
18 Credit purchases from: W Lee$4,200,T Ngai$900.
` 21 Paid$199 in cash for a telephone bill.
23 T Sin returned$270 worth of goods to us.
` 24 Returned goods to: T Ngai$1,400,W Lee$920
25 Drawings of $2,000 were made in cash.
27 H Chow returned goods of $400 us.
` 28 The following trade creditors’ accounts were settled by cheque, less a 5% cash discount:
K Yip, Lok Sauce Co
29 Paid $2,200 in cash for wags.
29 The followings people fully settled their accounts by cheque: H Chow, less$300 discount; L Ho,
Less$180 discount.
30 Paid$6,000 to Superfittings Ltd by cheque.
31 Bought a motor vehicle for $20,000 by cheque.作者: genius1314 時間: 11-3-19 11:18 PM
