question archive You are to enter up the necessary accounts for the month of October from the following infor- mation relating to a small printing firm
You are to enter up the necessary accounts for the month of October from the following infor- mation relating to a small printing firm
Subject:AccountingPrice:2.84 Bought3
You are to enter up the necessary accounts for the month of October from the following infor-
mation relating to a small printing firm. Then balance-off the accounts and extract a trial balance as
at 31 October 2017.
2017 1 Started in business with capital in cash of £3,600 and £8,400 in the bank.
October 2 Bought goods on time from: A. Bell £1,220; J. Smith £1,030; T. Hand £348; L.
Smart £690; S. long £1,084
4 Sold goods on time to: P. Hunt £680; A. Dexter £1,440; P. Spin £2,304.
6 Paid rent by cash £820.
9 P. Hunt paid us his account by cheque £680.
10 P. Spin paid us £2,000 by cheque.
12 We paid the following by cheque: T. Hand £348; A. Bell £1,220.
15 Paid carriage in cash £76.
18 Bought goods on time from J. Smith £582; L. Smart £1,880.
21 Sold goods on time to A. Dester £1,620.
31 Paid rent by cheque £980.
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| Date | Accounts | Debit $ | Credit $ |
| 1 Oct 2017 | Cash A/c | 3,600 | |
| Bank A/c | 8,400 | ||
| To Capital A/c | 12,000 | ||
| Started Business with Amount in bank & cash | |||
| 2-Oct-2017 | Purchases a/c | 4,372 | |
| To A.Bell payable a/c | 1,220 | ||
| To J.Smith payable a/c | 1,030 | ||
| To T.Hand payable a/c | 348 | ||
| To L.Smart payable a/c | 690 | ||
| To S.Long payable a/c | 1,084 | ||
| Being Credit Purchases Made | |||
| 4-Oct-2017 | P.Hunt Receivable A/c | 680 | |
| A.Dexter Receivable A/c | 1,440 | ||
| P.Spin Receivable A/c | 2,304 | ||
| To Sales A/c | 4,424 | ||
| Being Credit Sales made | |||
| 6-Oct-2017 | Rent A/c | 820 | |
| To Cash A/c | 820 | ||
| Rent Paid in cash | |||
| 9-Oct-2017 | Bank A/c | 680 | |
| To P.Hunt Receivable A/c | 680 | ||
| being amount received from debtors | |||
| 10-Oct-2017 | Bank A/c | 2,000 | |
| To P.Spin Receivable A/c | 2,000 | ||
| being amount received from debtors | |||
| 12-Oct-2017 | T.Hand Payable A/c | 348 | |
| A.Bell Payable A/c | 1,220 | ||
| To Bank A/c | 1,568 | ||
| Being Amount paid to Creditors | |||
| 15-Oct-2017 | Carriage Expenses A/c | 76 | |
| To Cash A/c | 76 | ||
| Being Carriage Expenses paid | |||
| 18-Oct-2017 | Purchases A/c | 2,462 | |
| To J.Smith Payable A/c | 582 | ||
| To L.Smart Payable A/c | 1,880 | ||
| Being Credit Purchases Made | |||
| 21-Oct-2017 | A.Dexter Receivable A/c | 1,620 | |
| To sales A/c | 1,620 | ||
| Being Sales made | |||
| 31-Oct-2017 | Rent A/c | 980 | |
| To Bank A/c | 980 | ||
| Being Rent Expenses paid | |||
| 31-Oct-2017 | Accounts Receivable A/c | 3,364 | |
| To A.Dexter Receivable(1,440+1,620) | 3,060 | ||
| To P.Spin Receivable A/c(2,304-2,000) | 304 | ||
| 31-Oct-2017 | J.Smith Payable A/c(1030+582) | 1,612 | |
| L.Smart payable A/c(690+1,880) | 2570 | ||
| S.Long payable A/c | 1,084 | ||
| To Accounts Payable A/c | 2,804 | ||
| 31-Oct-2017 | Profit & Loss A/c | 1,876 | |
| To Rent A/c | 1,800 | ||
| To Carriage Expenses A/c | 76 | ||
| 31-Oct-2017 | Profit & loss A/c | 6,834 | |
| To Purchases A/c | 6,834 | ||
| 31-Oct-2017 | Sales A/c | 6,044 | |
| To Profit & loss A/c | 6,044 |
Ledger Accounts
Accounts Receivable A/c
| Particulars | Debit ($) | Particulars | Credit($) |
| A.Dexter Receivable A/c | 3,060 | ||
| P Spin Receivable A/c | 304 | Balance c/d |
3,364 |
| Total | 3,364 | Total | 3,364 |
Accounts Payable A/c
| Particulars | Debit ($) | Particulars | Credit($ |
| L.Smith Payable A/c | 1,612 | ||
| L.Smart Payable A/c | 2,570 | ||
| S.Long Payable A/c | 1,084 | ||
| Balance C/d | 5266 | ||
| Total | 2,804 | Total | 2,804 |
Cash A/c
| Particulars | Debit ($) | Particulars | Credit($) |
| Capital | 3,600 | Rent | 820 |
| Carriage Exp | 76 | ||
| balance c/d | 2,704 | ||
| Total | 3,600 | Total | 3,600 |
Bank A/c
| Particulars | Debit ($) | Particulars | Credit($ |
| Capital A/c | 8,400 | T.Hand Payable | 348 |
| P.Hunt Receivable | 680 | A.Bell Payable | 1,220 |
| P.Spin Receivable | 2,000 | Rent | 980 |
| Balance c/d | 8,532 | ||
| 11,080 | 11,080 |
Rent A/c
| Particulars | Debit ($) | Particulars | Credit($ |
| Cash | 820 | Profit Loss A/c | 1,800 |
| Bank | 980 | ||
| Total | 1,800 | Total | 1,800 |
Carriage Expenses A/c
| Particulars | Debit ($) | Particulars | Credit($ |
| Cash | 76 | Profit & Loss A/c | 76 |
| Total | 76 | Total | 76 |
Purchases A/c
| Particulars | Debit ($) | Particulars | Credit($) |
| A.Bell payable | 1,220 | Proft & Loss A/c | 6,834 |
| J.Smith payable | 1612 | ||
| T.Hand payable a/c | 348 | ||
| L.Smart payable a/c | 2,570 | ||
| S.Long payable a/c | 1,084 | ||
| Total | 6,834 | Total | 6,834 |
Sales
| Particulars | Debit ($) | Particulars | Credit($ |
| Profit & Loss | 6,044 | P.Hunt Receivable | 680 |
| A.Dexter Receivable | 3,060 | ||
| P.Spin Receivable | 2,304 | ||
| Total | 6,044 | Total | 6,044 |
Profit & Loss A/c
| Particulars | Debit ($) | Particulars | Credit($) |
| Rent A/c | 1,800 | Sales | 6,044 |
| Carriage Expenses | 76 | ||
| Purchases | 6,834 | ||
| Net Loss | 2,666 | ||
| Total | 8,710 | Total | 8,710 |
3.Trial Balance For the October month
| Particulars | Debit($) | Credit($) |
| Cash | 2,704 | |
| Bank | 8,532 | |
| Accounts Receivableble | 3,364 | |
| Accounts Payable | 5,266 | |
| Sales | 6,044 | |
| Purchases | 6,834 | |
| Carriage Expenses | 76 | |
| Rent | 1,800 | |
| Capital | 12,000 | |
| Total | 23,310 | 23,310 |
