Scribd
Upload
5 views1 page

Accounting

The document outlines a series of accounting transactions for three different businesses: F Murray, P Bernard, and D Gough. Each section requires the recording of asset, liability, and capital accounts based on specific transactions such as starting capital, purchases, sales, and payments. The transactions involve various financial activities including cash, bank deposits, and credit purchases.

Uploaded by

Ajeet Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
5 views1 page

Accounting

The document outlines a series of accounting transactions for three different businesses: F Murray, P Bernard, and D Gough. Each section requires the recording of asset, liability, and capital accounts based on specific transactions such as starting capital, purchases, sales, and payments. The transactions involve various financial activities including cash, bank deposits, and credit purchases.

Uploaded by

Ajeet Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

ACCOUNTING

General Journal, General Ledger & Trial Balance

Q1: Write up the asset and liability and capital accounts to record the following transactions in the
records of F Murray.

1. Started business with £15,000 in the bank.


2. Bought office furniture by cheque £1,200.
3. Bought machinery £1,400 on credit from Trees Ltd.
4. Bought a van paying by cheque £6,010.
5. Sold some of the office furniture – not suitable for the business – for £150 on credit to
D Twig & Sons.
6. Paid the amount owing to Trees Ltd £1,400 by cheque.
7. Received the amount due from D Twig & Sons £150 in cash.
8. Bought more machinery by cheque £650.

Q2: You are required to open the asset and liability and capital accounts and record the following
transactions for June 20X8 in the records of P Bernard.

1. Started business with £12,000 in cash.


2. Paid £11,700 of the opening cash into a bank account for the business.
3. Bought office furniture on credit from Dream Ltd for £1,900.
4. Bought a van paying by cheque £5,250.
5. Bought equipment from Pearce & Sons on credit £2,300.
6. Returned faulty office furniture costing £120 to Dream Ltd.
7. Sold some of the equipment for £200 cash.
8. Paid amount owing to Dream Ltd £1,780 by cheque.
9. Took £130 out of the bank and added to cash.
10. F Brown lent us £4,000 – giving us the money by cheque.

Q3: Write up the asset, capital and liability accounts in the books of D Gough to record the following
transactions:
1. Started business with £16,000 in the bank.
2. Bought van paying by cheque £6,400.
3. Bought office fixtures £900 on credit from Old Ltd.
4. Bought van on credit from Carton Cars Ltd £7,100.
5. Took £180 out of the bank and put it into the cash till.
6. Bought office fixtures paying by cash £120.
7. Paid Carton Cars Ltd a cheque for £7,100.
8. A loan of £500 cash is received from B Berry.
9. Paid £400 of the cash in hand into the bank account.
10. Bought more office fixtures paying by cheque £480.

Page 9

You might also like