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general ledger, Cost Accounting
Jp Rhodes started a bowling club called " bowl them over". The following transactions took place 4 March 2012.
1. Bowling LTD transferred R20 000 bank account of the club as an initial donation.
2. Jonty borrowed a further R12000 frm Century bank @ an interest of 5% per annum 3. Purchase land & buildings for R100 000 A 10% deposit was paid and lords building Society granted & a mortgage loan for the outstanding amount An invoice for R17500 was received from Lanes R US Ltd for the erection of the new bowling lane.
4. Bowling balls were bought frm Ten Pin Limited for R6 150 on credit 5.A manager was appointed & JP agreed to pay him R7500 @ the end of each month 6. Advertisement costing R750 cash was placed in the local newspaper.
7. Score sheets were printed @ Howzat limited for R500 cash.
8. A computer system supplied by computa ltd was installed for R7200.
The account will only be settled in November 20 members joined the club & each paid their membership fees of R500.
20. Settled 1/3 of ten pin limited account
30. The managers salary was paid by cheque
A. Record the above transactions in the general ledger
Posted Date: 10/24/2012 4:06:28 AM | Location : United States
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