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2.2: Marly company has the draft statement of financial position at 30 Jun 20X0: Assets...

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Accounting

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2.2: Marly company has the draft statement of financial position at 30 Jun 20X0: Assets Value (S) Non-current assets Land and buildings 150,000 Current assets Inventory 70,000 Receivables 30,500 Cash at bank 12,000 Total Assets 262,500 Equity and liabilities Capital 180,000 Retained earnings 25,500 Liabilities 57,000 Total Equity and Liabilities 262,500 Requirements: (a) Students self-create FIVE economic transactions in July, 20X0 in the Marly Co (b) Posting these FIVE transactions to the ledger accounts in term of Dr/Cr and in term of T- account as the below sample: Sample: (a) In July 2, 20X0: the Marly Co purchases inventory 10,000$ in cash (b) Journal entry: Dr Inventory: 10,000$ Cr Cash: 10,000$ T-Account: Dr CASH Cr Balance b/d: Inventory: 10,000$ Balance c/d

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