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The following information is available for the business of Greg Samuels, a bookseller maker. January...

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Accounting

The following information is available for the business of Greg Samuels, a bookseller maker.

January

  1. Started business with 10,000 in business bank account
  2. Made purchase for 200 cash
  3. Further purchases from Cabbage for 400 on credit
  4. Paid rent 1000 cash
  5. Bought stationery for 60 cash
  6. Bought an old van for 4000 from Peters promising to pay later
  7. Sold rare books to Greene for 1000 cash
  8. Paid Cabbage 140
  9. Sold book on credit to Doy for 140
  10. Bought more stationery for 40 cash
  11. Paid cash of 150 for motor expenses
  12. Paid Peters 1000
  13. Took 300 from the business to pay for living expenses
  14. Received 100 for Doy

Requirements

  1. Show how these transactions would be recorded in the ledger accounts
  2. Balance the ledger accounts and extract a trial balance
  3. Extract a SOPL and SOFP for Greg Samuels (a sole trader).

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