Question 2: Journal (5 Marks) Ledger (5 Marks) and Trail Balance (5 Marks)
Total 15 Marks
John Brothers started their new venture at Port Moresby. From the following transactions pass journal
entries and prepare the necessary ledger account and a trial balance for the month of January 2019.
2-1-2019
Commenced Business with cash
100000.00
3.1.2019
Raw materials purchased for cash
20000.00
4.1.2019
Equipment purchased from Cook & Co on credit
20000.00
4.1.2019
Purchased office stationery from Stanley Ltd.
5000.00
6.1.2019
Raw materials purchased from Mr. Newton on credit
16000.00
10.1.2019
Cash deposited into the bank
25000.00
15.1.2019
Paid Wages by cash
6000.00
16.1.2019 Cash sales to Mr. Peter
15000.00
17.1.2019
Cash withdrawal from the bank for office use
5000.00
18.1.2019
Cash was paid to Mr. Newton
4000.00
19.1.2019
Credit sales to Mr. Donald
15000.00
25.1.2019
Cash withdrawal from the bank for personal use
8000.00
28.1.2019
Cash received from Mr. Donald (discount allowed K 500)
30.1.2019
Manager salary paid through bank
31.1.2019
Paid to Cook & Co by cheque
14500.00
5000.00
25000.00
31.1.2019
Cash received from Mr. Edwin
8,000.00
31.1.2019
GST paid
2000.00
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