Answer Happy

Double Entry Principles and Striking of Trial
Balance
QUESTION 1.
Record the following detail relating to a Carpet Retailer
for the month of June 2015 and extract a trial balance as at June
30, 2015
2015
June
1 Started
business with Ghc 150,000 in the bank.
3 Bought
goods on credit from: Small Ghc 2,900; Brown Ghc 12,000; Rae
Ghc
6,100; Charles Ghc 5,300
5 Cash sales
Ghc 6,100
6 Paid rent
by cheque Ghc 1,750
7 Paid
business rate by cheque 1,300
11 Sold goods on credit
to: Pots Ghc 850; Field Ghc 480; Gray Ghc 16,400
17 Paid wages by cash Ghc
290
18 We returned goods to:
Small Ghc 180; Charles Ghc 270
19 Bought goods on credit
from: Charles Ghc1,100; Rae Ghc 3,200; Jack Ghc 1,650
20 Goods returned to us
by: Field Ghc 60; Pots Ghc 140
21 Bought Van on credit
from German Motors Ghc 49,500
23 We pay the following
by cheque Small Ghc 2,270; Brown Ghc 12,000; Rae Ghc
5,000
25 Bought another Van,
paying by cheque immediately Ghc 62,000
26 Received loan of Ghc
7,500 cash from Benett
28 Received cheques from
Pots Ghc 710; Field Ghc 420
30 Proprietor brings a
further Ghc 9,000 into the business, a payment into the
business bank account.