Page 88 - Microsoft Word - 00 BA3 IW Prelims STUDENT.docx

Chapter 4

Example 1

Required:

Balance and close the remaining ledgers from Chapter 3.

Example 1: Solution

Capital
Dr $ Cr $
01-May Cash 20,000

Bank
Dr $ Cr $
02-May Cash 15,000 10-May Rent 80
27-May SP 330 16-May Furniture 1,500
24-May Carriage out 25
27-May Carriage in 20
28-May Advertising 25

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