Record the following details relating to a carpet retailer f
Question and Solution
Record the following details relating to a carpet retailer for the month of November 20X7 and extract a trial balance as
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Record the following details relating to a carpet retailer for the month of November 20X7 and extract a trial balance as at 30 November 20X7: 20X7 Nov 1 Started in business with £15,000 in the bank. == 3 Bought goods on credit from: J Small £290; F Brown £1,200; T Rae £610; R Charles £530. == 5 Cash sales £610. == 6 Paid rent by cheque £175. == 7 Paid business rates by cheque £130. == 11 Sold goods on credit to: T Potts £85; J Field £48; T Gray £1,640. == 17 Paid wages by cash £290. == 18 We returned goods to: J Small £18; R Charles £27. == 19 Bought goods on credit from: R Charles £110; T Rae £320; F Jack £165. == 20 Goods were returned to us by: J Field £6; T Potts £14. == 21 Bought van on credit from Turnkey Motors £4,950. == 23 We paid the following by cheque: J Small £272; F Brown £1,200; T Rae £500. == 25 Bought another van, paying by cheque immediately £6,200. == 26 Received a loan of £750 cash from B. Bennet. == 28 Received cheques from: T Potts £71; J Field £42. == 30 Proprietor brings a further £900 into the business, by a payment into the busin bank account.
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