Reference no: EM132419809

Produce a trial balance applying the use of the balance off rule to complete the ledger.

Below are questions pertaining to lesson 2 Please ensure to answer each question correctly.

Enter the following transactions of an antiques shop in the accounts balance each account and extract a trial balance as at 31 March 2006.

March 1 Started in business with $8000 in the bank.

March 2 Bought goods on credit from the following persons L Frank $550 G Byers $290 P Lee $610.

March 5 Cash sales $510.

March 6 paid wages in cash $110.

March 7 Sold goods on credit to J Snow $295 K Park $360 B Tyler $640.

March 9 bought goods for cash $120.

March 10 Bought goods on credit from G Byers $410 P Lee $1240.

March 12 paid wages in cash $110.

March 13 Sold goods on credit to K Park $610 B Tyler $205.

March 15 Bought shop ?xtures on credit from Stop Ltd $740.

March 17 Paid G Byers by cheques $700.

March 18 We returned goods to P Lee $83.

March 21 Paid Stop Ltd a cheques for $740.

March 24 B Tyler paid us his account by cheques $845

March 27 we returned goods to L Frank $18.

March 30 G Prince lent us $1000 by cash.

March 31 Bought a van paying by cheques $6250.