Reference no: EM132747944
Question: You are required to Prepare a written report for the following tasks. Transactions for the month of December of a small retailer, XYZ ENTERPRISE are given as the following.
2019 Dec
1 Initial investment to start the business with $225 000, cash.
2 Put $90 000 of the cash into bank account
3 Bought goods for cash $5500
4 Bought goods on credit from Kale $800, Saly $930 , Jale $160 and Bale $510
5 Bought stationery on credit from Bean $89
6 Sold goods on credit to Camy $170, Bamy $240, Gamy $326, Tamy $204
7 Rent paid by cheque $220
10 Bought fixtures and fittings by credit from Chuni Bros $610
11 Paid salaries in cash $790
14 Returned goods to Saly $30, Jale $42
15 Bought van by cheque $6500
16 Received loan from Bailey by cheque $2000
18 Sales returns to Camy $ 5, Gamy $20 .
21 Cash Sales $145
24 Sod goods to Bamy $130, Tamy $410, Pamy $158
26 Amount paid by cheques to Saly $900, Jale $118
29 Received cheques from Bamy $158, Pamy $370
30 Received further loan from Bailey by cash $500
30 Received $614 cash from Tamy
Required: (a) Prepare books of prime entry for the above transactions
(b) Record the transactions ledgers and balance off ledgers
(c) Extract a trial balance.