Q.1 The following balances were extracted from the books of ALL DIE BE DIE Enterprise for the month of August 2020. Office Furniture GH₵150,000 Cash on hand GH₵ 70,000 Bank Balance GH₵200,000 Debtors: Ascertain GH₵ 1,200 Freeman GH₵8,000 Creditors Suzzy GH₵ 26,000 Pao GH₵14,000 The following transactions took place during the month of September 2020: 1 Paid cash 13,000 for rent. 2 Credit Sales: Ascertain GH₵50,000, Joe GH₵55,000 Freeman GH₵117,000. 3 Cash Sales GH₵150,000. 4 Credit Purchases: Suzzy GH₵30,000, Jane GH₵35,000, Pao GH₵59,000. 4 Received cheques Ascertain: GH₵40,000, Joe GH₵1,000, Freeman GH₵ 96000 6 Paid cheques: Suzzy GH₵ 24,000 (Discount GH₵2,000), Jane GH₵20,000, Pao GH₵40,000. 8 Return Inwards: Ascertain 10,000, Joe GH₵1,000, Freeman GH₵3,000 10 Return Outwards: Jane GH₵3,000, Pao GH₵1,000. 12 Credit Sales: Ascertain GH₵50,000, Joe GH₵40,000, Freeman GH₵15,000. 15 Cash Sales GH₵180,000 16 Paid Insurance GH₵50,000 16 Credit purchases: Jane GH₵12,500, Pao GH₵20,500, Suzzy GH₵18,000 17 Cash Sales GH₵120,000. 17 Received Cheques: Ascertain GH₵20,000 (Discount GH₵ 1,000) Joe GH₵27,000, Freeman GH₵ 8,500 (Discount 1,500). 18 Paid cheques Suzzy GH₵15,000, Jane GH₵GH₵18,000 (Discount GH₵500) Pao GH₵ 21,000 (Discount GH₵ 1,500). 20 Cash purchases GH₵120,000 2 25 Paid cash into Bank GH₵150,000 28 Purchased office furniture by cheque GH₵250,000 Required: i. Write up the above transactions in the relevant Books of Original Entry and determine the Opening Capital ii. Write up the three - column cash book. iii. Post to the relevant personal and impersonal ledgers. iv. Prepare a Trial Balance. 2

Public Answer

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