No need to follow the book format. Use any format you like to. Question...
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Accounting
No need to follow the book format. Use any format you like to.
Question 3a (25 marks) Question 3a is based on 8124 Book 2, Chapters 1, 2 and 3. (Completing Activity 2.1 in Chapter 2 of Book 2 and the Self-assessed Question 1 (SAO 1) af the end of Book 2 would be excellent for this question) Ken owns and manages a small business, which sells toys to high street shops and market traders. Ken manages all aspects of the business, including delivery and collection of the toys The business accounts are balanced at the end of each month On 1 July the balances on his accounts were as follows Account name Debit Credit 50,000 Capital Van Bank 18,000 12,000 00.000 80.000 July, the following transactions No. Date Amount 1 2July 750 Ken pays by debit card to replace the tyres on the 3July 11,000 7 July 2.500 4 July 4,500 2 Ken receives payment from a receivable Ken pays by bank transfer the amount due to a Ken pays by debit card for petrol Ken invoices a new custommer on 30 days credit Ken pays cash for advertising 5 11 July 200 6 15 3,700 7 18 580 8 20 2.50o 9 21 July Ken purchases toys for resale, agreeing 30 days July 1.880 Ken purchases toys for resale and pays by cheque July Ken withdraws cash out of the business bank account for personal use 10 31 Julya . a Set out Ken's general ledger accounts at 1 July (s marks) . b. Continuing on. post to the relevant accounts the 10 transactions that took place n July (TO marks) C.Balance off the general ledger accounts (5 marks) .d. Present the trial balance at 1 August
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