Question

Enter the following transactions for Rojo in ledger accounts, and then balance off the accounts and transfer the balances into a trial balance.

Date Transactions

Jan 1 Started business putting £5,000 into the bank and £500 into petty cash

Jan 2 Bought inventory on credit from C. Higgins, £250; F. Gulmohammed, £450; S. O’ Hare, £650, J. Ballantine, £850

Jan 3 Returned goods to J. Ballantine, £80 and F. Gulmohammed, £40

Jan 4 Sold inventory on credit to: C. Doogan, £1,000; S. Totten, £800 and C. Magee, £1,500

Jan 6 Purchased goods by cheque, £4,000

Jan 8 Purchased goods by in cash, £250

Jan 11 Bought a motor car for £8,000 using a loan received from the bank.

Jan 12 Put diesel in the car, £50 cash, bought motor tax, £120 (by cheque) and insured the car (£500 – paid for by cheque)

Jan 15 Sold goods in cash, £560

Jan 15 Sold goods – received a cheque, £750

Jan 16 Purchased goods on credit from J. Ballantine, £80; C. Higgins, £560; F. Gulmohammed, £350; S O Hare, £650

Jan 18 Sold goods on credit to S. Totten, £650; C. Magee, £980 and M.Farmer, £150

Jan 21 S. Totten returned goods - £60 and C. Magee returned goods - £100

Jan 22 Returned goods to C. Higgins, £60

Jan 23 Paid by cheque C. Higgins, £500; J. Ballantine, £800; S. O Hare, £300

Jan 25 Received cash from C. Doogan - £800 (banked £500 of this)

Jan 25 Received a cheque from S. Totten for £750 and C. Magee, £2,000

Jan 26 Purchased diesel, £50 (in cash)

Jan 30 Cash sales, £500

Jan 31 Sales, £2,200 (cheques received)

Jan 31 S. Totten purchased £2,500 worth of goods

Jan 31 Purchased £850 of goods from J. Ballantine