Urgrent ! POA help !
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Im having trouble with this question on Trial Balance and I need some help.
During the month of december 2009, the following transaction took place:
(ii) credit sales amounted to $5200
(iii) received amount of $5430 from debtors
(iv) paid $40 000 for motor vehicles.
Which one should i debit and credit ?
I have : capital, sales, purchases, purchases returns, motor vehicle($58 500), cash at bank, insurance, interest paid, premises, rent received, debtors and creditors.
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Can post the whole question?
Not bits and pieces.
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Capital 254600
Sales 79 900
Purchases 65 350
Purchases Returns 260
Motor Vehicle 58 500
Cash at bank 76 000
INsurance 3800
Interest paid 5400
Premises 125 000
Rent received 800
Debtors 18 300
Creditors 16 790
(i) cash sales 8760 banked in
(ii) credit sales amounted to 5200
(iii)received 5430 from debtors
(iv)paid 40 000 for motor vehicle
(v) paid 5900 to creditors
(vii) returned 600 worth of goods to suppliers.
Draw up a trial balance. (not suppose to introduce new accounts)
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Si mi is credit sales amounted to 5200?? mean Dr Debtors, Cr Sales 5200 is it ??
iii) Dr cash at Bank 5430 Cr Debtors 5430
iv) Dr Motor Vehicle, Cr cash at bank 40000
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I can't even be bothered to help because it's a half xxxx question.
Can't even be bothered to type out whole question.
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It's Trial balance.
Does not matter.
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Hmm theres no question.. The requirements is for you to draw up a trial balance after applying the updated transaction which i listed as (I),(ii) etc . Having trouble with part (I), (ii) and (iv).
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i) Dr Bank 8760 -- Cr Sales 8760
ii) Dr Debtor 5200 -- Cr Sales 5200
iii) Dr Bank 5430 -- Cr Debtor 5430
iv) Dr Motor Vehicle 40,000 -- Cr Bank 40,000
v) Dr Creditor 5900 -- Cr Bank 5900
vi) Dr Creditor 600 -- Cr Purchases Returns 600
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Capital = 254,600
Sales = 93,860
Purchases = 65,350
Purchases Returns = 860
Motor Vehicle = 98,500
Cash = 44,290
Insurance = 3,800
Interest Paid = 5,400
Premises = 125,000
Rent Rec'd = 800
Debtors = 18,070
Creditors = 10,290