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saveliy_v [14]
3 years ago
13

LEDGER ENTRIES Illustration Two

Social Studies
1 answer:
ololo11 [35]3 years ago
4 0

The transactions are entered in their appropriate ledgers in the books of Jones David as follows:

<h3>Bank Account</h3>

Date   Account Titles                        Debit         Credit

July 1 Capital, Jones David             N50,000

July 1 Office furniture and equipment            N18,000

July 2 Inventory                                               N12,750

July 4 Accounts Receivable

           (Hephzibah)                          N6,230

July 4 Cash                                      N5,000

July 7 Rent                                                       N6,000

July 7 Cash                                      N8,674

July 12 Accounts Payable (Deborah)             N3,150

July 13 Telephone                                          N1,250

July 15 Accounts Receivable

          (Rebecca)                            $4,300

July 15 Cash                                  N2,074

July 20 Drawings                                          N1,750

July 24 Sales Revenue                N6,250

July 25 Salaries                                           N5,560

July 26 Accounts Payable (Sinuola)            N7,124

July 27 Accounts Receivable

            (Williams)                         N4,874

<h3>Cash Account</h3>

Date   Account Titles                        Debit         Credit

July 4 Bank                                     N5,000

July 5 Stationery                                                 N776

July 6 Sales Revenue                    N2,334

July 7 Sales Revenue                     N4,730

July 7 Bank                                                      N8,674

July 9 Sales Revenue                    N5,574

July 12 Freight                                                    N150

July 14 Inventory                                            N2,224

July 15 Bank                                  N2,074

July 16 Accounts Receivable

           (Sweetness)                      N2,682

July 23 Transport                                            N270

July 23 Cleaning                                            N600

July 24 Sales Revenue                  N990

July 29 Electricity                                          N428

July 30 Stationery                                       N1,700

July 30 Sales Revenue             N2,434

<h3>Accounts Receivable</h3>

Date   Account Titles                        Debit         Credit

July 3 Sales Revenue                   N7,000

July 4 Bank                                                       N6,230

July 4 Cash discount                                            N68

July 13 Sales Revenue                N5,200

July 14 Sales Revenue                N3,400

July 15 Bank                                                   N4,300

July 15 Cash discount                                         N90

July 16 Cash                                                  N2,682

July 26 Sales Revenue             N5,850

July 27 Bank                                                 N4,874

July 27 Cash discount                                     N126

<h3>Inventory</h3>

Date   Account Titles                            Debit         Credit

July 2 Bank                                         N12,750

July 6 Accounts Payable (Deborah)  N3,250

July 8 Accounts Payable (Deborah)  N1,000

July 14 Cash                                        N2,224

July 25 Accounts Payable (Sinuola) N8,900

<h3>Stationery</h3>

Date   Account Titles                        Debit         Credit

July 5 Cash                                       N776

July 30 Cash                                  N1,700

<h3>Office Furniture and Equipment</h3>

Date   Account Titles                        Debit         Credit

July 1 Bank                                     N18,000

<h3>Rent</h3>

Date   Account Titles                        Debit         Credit

July 7 Cash                                     N6,000

<h3>Freight</h3>

Date   Account Titles                        Debit         Credit

July 12 Cash                                     N150

<h3>Telephone</h3>

Date   Account Titles                        Debit         Credit

July 13 Bank                                     N1,250

<h3>Drawings</h3>

Date   Account Titles                        Debit         Credit

July 20 Bank                                     N1,750

<h3>Transport</h3>

Date   Account Titles                        Debit         Credit

July 23 Cash                                     N270

<h3>Cleaning</h3>

Date   Account Titles                        Debit         Credit

July 23 Cash                                     N600

<h3>Salaries</h3>

Date   Account Titles                        Debit         Credit

July 25 Bank                                 N5,560

<h3>Electricity</h3>

Date   Account Titles                        Debit         Credit

July 29 Cash                                     N428

<h3>Capital, Jones David</h3>

Date   Account Titles                        Debit         Credit

July 1 Bank                                                        N50,000

<h3>Accounts Payable</h3>

Date   Account Titles                        Debit         Credit

July 6 Inventory                                                 N3,250

July 8 Inventory                                                 N1,000

July 12 Bank                                     N3,150

July 12 Cash Discounts                      N100

July 25 Inventory                                             N8,900

July 26 Bank                                    N7,124

July 26 Cash Discounts                 N1,500

<h3>Sales Revenue</h3>

Date   Account Titles                        Debit         Credit

July 3 Accounts Receivable (Hephzibah)        N7,000

July 6 Cash                                                        N2,334

July 7 Cash                                                        N4,730

July 9 Cash                                                       N5,574

July 13 Accounts Receivable (Rebecca)         N5,200

July 14 Accounts Receivable (Sweetness)     N3,400

July 24 Bank                                                    N6,250

July 24 Cash                                                       N990

July 26 Accounts Receivable (Williams)       N5,850

July 30 Cash                                                  N2,434

<h3>Cash Discounts Expenses</h3>

Date   Account Titles                                 Debit         Credit

July 4 Accounts Receivable (Hephzibah) N68

July 15 Accounts Receivable (Rebecca  ) $90

July 27 Accounts Receivable (Williams) N126

<h3>Cash Discounts Received</h3>

Date   Account Titles                        Debit         Credit

July 12 Accounts Payable (Deborah)                  N100

July 26 Accounts Payable (Sinuola)                N1,500

<h3>Transactions Analysis:</h3>

July 1 Bank N50,000 Capital, Jones David N50,000

July 1 Office furniture and equipment N18,000 Bank N18,000

July 2 Inventory N12,750 Bank N12,750

July 3 Accounts Receivable (Hephzibah) N7,000 Sales Revenue N7,000

July 4 Bank N6,230 Cash discount N68 Accounts Receivable (Hephzibah) N6,298

July 4 Cash N5,000 Bank N5,000

July 5 Stationery N776 Cash N776

July 6 Cash N2,334 Sales Revenue N2,334

July 6 Inventory N3,250 Accounts Payable (Deborah) N3,250

July 7 Rent N6,000 Bank N6,000

July 7 Cash N4,730 Sales Revenue N4,730

July 7 Bank N8,674 Cash N8,674

July 8 Inventory N1,000 Accounts Payable (Deborah) N1,000

July 9 Cash N5,574 Sales Revenue N5,574

July 12 Accounts Payable (Deborah) N3,250 Bank N3,150 Cash Discounts N100

July 12 Freight N150 Cash N150

July 13 Accounts Receivable (Rebecca) N5,200 Sales Revenue N5,200

July 13 Telephone N1,250 Bank N1,250

July 14 Accounts Receivable (Sweetness) N3,400 Sales Revenue N3,400

July 14 Inventory N2,224 Cash N2,224

July 15 Bank N4,300 Cash discount N90 Accounts Receivable (Rebecca) $4,390

July 15 Bank N2,074 Cash N2,074

July 16 Cash N2,682 Accounts Receivable (Sweetness) N2,682

July 20 Drawings N1,750 Bank N1,750

July 23 Transport N270 Cash N270

July 23 Cleaning N600 Cash N600

July 24 Bank N6,250 Sales Revenue N6,250

July 24 Cash N990 Sales Revenue N990

July 25 Inventory N8,900 Accounts Payable (Sinuola) N8,900

July 25 Salaries N5,560 Bank N5,560

July 26 Accounts Receivable (Williams) N5,850 Sales Revenue N5,850

July 26 Accounts Payable (Sinuola) N8,624 Bank N7,124 Cash Discounts N1,500

July 27 Bank N4,874 Cash discount N126 Accounts Receivable (Williams) N5,000

July 29 Electricity N428 Cash N428

July 30 Stationery N1,700 Cash N1,700

July 30 Cash N2,434 Sales Revenue N2,434

Learn more about posting ledger entries here: brainly.com/question/5374498

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