Reference no: EM133000836
Problem 1: Draw up the double-entry accounts of Jane Doe from the following transactions and balance off each account at the end of the month then construct the Trial Balance.
Date: 2010
1 st November: Jane Doe opens a business bank account with £8,500 of her own money.
3 rd November: Machinery is bought for £1,500, payment made by cheque.
4 th November: Machinery insurance of £95 is paid by cheque.
7 th November: Purchases on credit are made as follows: £65 from M Hodge, and £21 from B Bolder.
10 th November: A vehicle is bought for £4,300 on credit from Mark Sterland.
14 th November: Sales on credit are made of £272 to M Smith.
16 th November: Goods worth £34 are returned to Hodge.
18 th November: Smith sends Jane Doe a cheque for the full amount.
21 st November: Jane Doe pays Bolder £21 by cheque.
24 th November: Sales are made for £180 on credit to T Curran
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