Reference no: EM132572213
Question -
PART A - The following transactions took place in Kikwetu Enterprises, a newly established business during the month of August 2019.
August 1: Started a business with Ksh. 35,000 in account
August 2: Paid rent Ksh. 17,000 by cheque
August 4: Purchased fixed assets paying by cheque Ksh. 130,000
August 5: Bought goods for Ksh. 4,000 paying by cheque
August 6: Bought stationery for Ksh. 600 paying by cash
August 7: Sold goods for Ksh. 13,000 and immediately banked the cheque
August 8: Paid wages Ksh. 12,000 paying by cheque
August 10: Bought goods for Ksh. 5,000 paying by cheque
August 12: Paid insurance premium Ksh. 1,800 paying by cheque
August 16: Sold goods for Ksh. 5,000 and banked the cheque
August 22: Paid wages Ksh. 1,200 paying by cash
August 24: Sold goods for Ksh. 6,000 and received the money in cash.
Required - Prepare two - column cash book duly balanced for the month of August 2019.
PART B - The following balances were extracted from the ledger of Waswa on 31st August 2019
Sh.
Salaries 36,320
Sales 173,500
Plant and machinery 34,300
Commission received 1,880
Inventory on 1/9/2018 11,100
Sundry expenses 2,130
Return inward 1,000
Discount allowed 1,150
Rent and rates 3,220
Purchases 144,670
Sundry debtors 1,430
Travelling expenses 2,630
Carriage inwards 240
Sundry creditors 14,260
Capital 1.9.2018 62,500
Drawings 3,500
Cash at bank 1,090
Return outward 400
Commission paid 3,760
Required - Prepare trial balance for the year ending 31st August 2019.
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