Question

In: Accounting

the following are the transaction of unza limited for the month of june 2018 june 1...

the following are the transaction of unza limited for the month of june 2018

june 1 introduced capital of k 95,000 into the bank

june 2 purchased goods on credit from smith and co for k 8000

june 3 cash sales k320

june 5 sold goods on credit to p jones for k 700

june 6 cash purchases k300

june 8 purchased goods on credit from smith and co. for k 1600

june 9 paid smith and co. k 7000 by cheque

june 11 paid wages k 960 by cheque

june 12 paid wages by cash k80

june 15 sold goods on credit to s.roche for k 1600

june 17 s. roche returned goods , k700

june 19 p.jones paid k 90 and was allowed k 6 % discount

june 22 paid ligh and heat by cheque k 400

june 23 purchsed delivery van by cheque k 8000

june 25 s.roche cleared his account and was allowed 5 % discount

june 27 paid wages by cheque by cheque k 820

june 28 cash sales k 1000

june 29 drawings by cheque k 450

june 30 paid wages by cheque k 820

1) complete the double entries for each transaction clearly indicating a debit and credit entires

2) post the entries to the ledger or T accounts and balance the accounts

3) complete the trial balance

4) prepare the income statement

5) prepare the balance sheet

Solutions

Expert Solution

ekkarill92 answered 1 year ago
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