Answers to Review Questions Volume 1 - Chapter 4

1. 20X9 Capital 20X9 Jul 1 Bank 20X9 5,500 Jul 6 Jul 10 Purchases 20X9 540 Sales 20X9 Jul 5 Jul 14 N Devinish 20X9 450 Jul 23 C Badjonat 20X9 Jul 2 Rent 20X9 450 Cash 20X9 800 Jul 22 180 Jul 31 Insurance 20X9 45 Returns inwards 20X9 180 DWit Autos Ltd 20X9 Jul 27 Bank 5,500 450 800

20X9 Jul 1

Capital

Rent Cash

20X9 Jul 2 20X9

C Badjonat

N Devinish Cash

450 180 180 540

20X9 Jul 5 20X9

Sales

Returns inwards

C Badjonat

20X9 Jul 6 20X9 Jul 10 Jul 14 20X9 Jul 22 20X9 Jul 23 20X9

Bank

Bank Sales

Insurance Sundry expenses

45 67

Cash

N Devinish

Van

2,500

20X9 Jul 27 20X9 Jul 31 2. 20X1

DWit Autos Ltd

Van 20X9 2,500 Sundry expenses 20X9 67 Capital 20X1 Aug 1 Bank 20X1 4,500 Aug 3 330 Aug 3 Aug 16 Rent 20X1 500 Office sundries 20X1 120 Purchases 20X1 250 80 L Parker 20X1 Aug 4 Sales 20X1 Aug 8 W Yik 20X1 440 Aug 21 Aug 31

Cash

Bank

4,500 500 120 700

20X1 Aug 1 Aug 31

Capital W Yik

Rent Office sundries Cash

20X1 Aug 3 20X1 Aug 3 20X1 Aug 4 Aug 20 20X1

Bank

Bank

L Parker Cash

Purchases

250 440 110 330 50

20X1

W Yik

20X1 Aug 8

Sales

Returns inwards Bank

20X1

Commission Received 20X1 Aug 14 Cash

20X1 Aug 14 Aug 16 20X1 Aug 21 20X1 Aug 27 3. 20X6

Commission Received Bank

Cash 20X1 50 Aug 20 700 Aug 27 Returns inwards 20X1 110 Drawings 20X1 25 Capital 20X6 Mar 1 Cash 20X6 3,500 Mar 2 250 Mar 19 Mar 19 Bank 20X6 2,500 Mar 13 Mar 28 L Hill 20X6 560 Mar 4 M Miller 20X6 100 Mar 4 Purchases 20X6 560 240

Purchases Drawings

80 25

W Yik

Cash

Cash

3,500 2,500 85 28 1,200 560 560 240

20X6 Mar 1 Mar 30

Capital R Rollo

Bank Wages Advertising

20X6 Mar 2

Cash

Motor vehicle L Hill

20X6 Mar 28 20X6 Mar 9 20X6 Mar 4 Mar 4 20X6

Bank

Purchases

Returns outwards

Purchases

L Hill M Miller

Returns outwards 20X6 Mar 9 M Miller Motor vehicles 20X6 1,200

100

20X6 Mar 13

Bank

20X6 Mar 19 20X6 Mar 19 20X1 Mar 23 20X1

Cash

Wages 20X6 85 Advertising 20X6 28 Office equipment 20X1 2,500 Mar 31

Cash

Supplies Warehouse

Drawings

500 2,500 250 345

Supplies Warehouse 20X1 Mar 23 Office equipment R Rollo 20X1 345 Mar 30 Sales 20X1 Mar 26 Drawings 20X1 500 Capital 20X4 June 1 Bank 20X4 8,000 June 6 June 12 Purchases 20X4 210 J Carter 20X4 June 3 Wages 20X4 450

20X1 Mar 26 20X1

Sales

Cash

R Rollo

20X1 Mar 31 4. 20X4

Office equipment

Bank

2,000 450 500

20X4 June 1

Capital

Wages Drawings

20X4 June 3 20X4

J Carter

Purchases

210

20X4 June 6

Bank

20X4

Sales 20X4 June 10 June 23 Cash 20X4 99 June 18 D Jackson 20X4 320 Drawings 20X4 500

Cash D Jackson

99 320 75

20X4 June 10 20X4 June 23 20X4 June 12

Sales

Returns inwards

Sales

Bank