Journalize the following transaction DOMINUS
business centre Abakaliki for the month of November, 2013. Prepare
the cash account individual ledger account and the trial balance as at 30th November, 2013.
6950 .00 6950.00
Gross
profit b/d 5150 .00 5150.00
Date Particular Dr. Cr.
Dr Cash Account Cr
Bal.
c/d 118.00
Dr Cr
Dr Cr
PURCHASES ACCOUNT
Dr Cr
Dr Cr
Dr Cr
Dr Cr
Dr Cr
Dr Cr
Dr Cr
November
1st 2013 DOMINUS
stated business
With cash N30,000
Nov. 2nd Bought goods for cash N13,000
Nov. 3rd Bought furniture & fitting
for cash N5,400
Nov. 6th sold goods for cash N5,600
Nov. 14th cash purchases N7,800
Nov. 18th lent John Ike N5,000
Nov. 25th cash sales to date N7,400
Nov. 29th paid wages N1,200
Nov. 29th sundry expense N1,000
Nov. 30th cash sales to date N5,800
Nov. 30th John repaid part of the loan N2,000
QUESTION NO. 2
From the trial balance of Johnson trading company
prepared the trading, profit and lost account ending in Nov. 30th 2013.
Opening stock 200
Purchases 1800
Sales 5000
Retune outward 500
Return inward 300
Discount allowed 100
Discount receipt 150
Custom duty 200
Insurance 750
Office expenses 300
Electricity 250
Wages 800
Directors fees 1500
Commission receive 280
Rent receive 105
Closing stock 200
Trading profit and loss account of Johnson trading
company as Nov. 30, 2013.
DR CR
Sale 5000.00
Opening stock 200.00
Purchases 1800.00
Goods available 2000.00
Less close stock 200.00
Cost of goods sold 1800.00
Add return inward 300.00
Discount receipt 150.00
Director’s fees 1500.00
Gross profit old 5150.00
6950 .00 6950.00Gross
profit b/d 5150 .00 5150.00
Net profit b/d 1865.00
And No 1
The general journalize of DOMINUS business centre
Abakaliki as at 30th
Nov. 2013
Date Particular Dr. Cr.
Nov. 1 cash 30,000.00
Capital 30,000.00
Nov. 2 Brought
goods 13,000.00
Cash 13,000.00
Nov. 3 Furniture/fitting 5,400.00
Cash 5400.00
Nov. 14 Purchases
7,800.00
Cash 7800.00
Lent
John Ike 500.00
Nov. 18 cash 5000.00
Nov 25 cash 7400 .00
Sale 7400 .00
Nov 29 paid
wages
1200.00
Sundry
expenses 1000.00
Nov 30 Cash 5800.00
Sale 5800 .00
“ “ Cash 2,000.00
Lent
(John Ike) 2,000.00
Payment
Dr Cash Account Cr
Capital 30,000.00 Bought goods 13,000.000
Sale to date 7400 .00 Lent(John
Ike) 5,400.00
Sale date 5800 .00 paid
wages 1200.00
Lent (John Ike) 2000 .00 Sundry
exp 1000.00
Bal.
c/d 118.00
45200.00 45,200.00
CAPITAL
ACCOUNT
Dr Cr
Cash 30,000.00
FURNITURE AND
FITTING ACCOUNT
Dr Cr
Cash 5,400.00
PURCHASES ACCOUNT Dr Cr
Cash 7,800.00
BOUGHT GOODS
ACCOUNT
Dr Cr
Cash 13,000.00
SALES ACCOUNT
Dr Cr
Cash 13,200.00
Debtor 5000.00
DEBTOR ACCOUNT
Dr Cr
Sale 5000.00
LOAN ACCOUNT
Dr Cr
Cash 5,000.00
Cash 2,000.00
Bal.
c/d 3,000.00
5,000.00 5,000.00
SALARIES
ACCOUNT
Dr Cr
Cash 1,200.00
SUNDRY EXP. ACCOUNT
Dr Cr
Cash 1000.00
TRIAL BALANCE OF DOMINUS BUSINESS CENTRE ABAKALIKI
AS AT NOV. 30TH, 2013
Particular Dr Cr
1. cash 45200.00
2. Capital 39,000.00
3. Furniture/fitting 5400.00
4. Creditors 2000
5. Purchases 7800.00
6. Sales 13200
7. Goods 13,000
8. Lent(John) 3000
9. Wages 1200
10. Sundry
Exp 1000
11. Debtor 5000
81600.00 81600.00