- 1 1 Q1 The Following Transactions Relate To Katie S Travel Blog Ltd During October 2021 Which Is Its First Month Of B 1 (42.8 KiB) Viewed 68 times
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1 1 Q1 The following transactions relate to Katie's Travel Blog Ltd - during October 2021, which is its first month of business. The business has two shareholders Katie and Cameron and employs 22 members of staff. Oct Transaction Katie invests £155,000 cash into the business. A cash purchase from PJ Ltd was made for £14,703 2 Vehicles are bought for £58,000 on 30 Day credit terms from TC Harrison Ltd. 3 A purchase for £21,345 is received from supplier Doff Ltd to be paid for in 10 Days A credit sale was made to Envy plc, due in 21 days for £3,611 Credit sales were made to Indie plc for £14,622 to be paid on 21 Day Terms. Cash sales of £8,998 were made to Royal Ltd. 7 A bank loan of £105,000 was received from Barclays Bank. 10 An invoice for water rates for £1,895 was received, to be paid in 10 days. 12 A credit sale was made to Envy plc for £18,099 13 Credit Sales for £27,819 made to Indie plc. 19 Invoice received for £35,064 for a new Vehicle. This is due to be paid immediately. 22 Cash Sales of £12,602 were made. 25 Indie returned 23% of their first sale. 29 There was another purchase on the same terms from Doff Ltd for £15,680 31 Katie returned 22% of her purchase from PJ Ltd. 5 7 7 Prepare the T Accounts for Katie's Travel Blog Ltd for October 2021, completing the balancing off for each Account || Complete the Trial Balance (TB) for Katie's Travel Blog Ltd for the end of October 2021.