Kaka has started online football gear retail business in March and has asked you for your help to record the following t

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Kaka Has Started Online Football Gear Retail Business In March And Has Asked You For Your Help To Record The Following T 1 (54.23 KiB) Viewed 15 times

Kaka has started online football gear retail business in March and has asked you for your help to record the following transactions for the month of March 2022. Mar-2022 == 01 Started in business with £6,000 in the business bank account. ==02 Withdrew £1,500 cash the bank as business cash. ==03 Bought computer equipment for £750 and paid cash. ==04 Bought goods for resale and paid £3,000 by cheque. ==06 Bought packing supplies worth £450 on credit from Packr Ltd. 07 Sold goods on credit to Freddy worth £2,000. ER 10 Paid rent for the business premises by cheque - £400. ==13 Received cheque of £1,200 from Freddy as part payment. == 15 Cash sales amounted to £1,500. == 15 Goods were returned to us for a cash refund worth £300. == 17 We returned goods and received the refund in bank £100. == 22 Paid utilities bill by cheque £75. == 30 Paid business insurance by cheque £50. == 31 Cash sales amounted to £3,100. == 31 Paid Salaries for the month by cheque £600. Required: (a) Record the above transactions as Journal entries. (b) Post the journal entries into T accounts and balance off the accounts. (c) Extract a trial balance as at 31" March 2022 for Kaka. (d) Briefly define trial balance. (30 Marks) (60 Marks) (07 Marks) (03 Marks)