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T-Accounts Homework: Sales & Purchases

The document outlines a homework assignment for recording transactions in T-accounts for May 2020. It includes details of purchases, sales, returns, and cash transactions involving various parties. Students are instructed to complete the assignment and submit it after the vacation.

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3 views1 page

T-Accounts Homework: Sales & Purchases

The document outlines a homework assignment for recording transactions in T-accounts for May 2020. It includes details of purchases, sales, returns, and cash transactions involving various parties. Students are instructed to complete the assignment and submit it after the vacation.

Uploaded by

Cloudy Sky
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

HOMEWORK – 3

Double entry – Sales, Purchases & Returns


Enter the following transactions in T-accounts for the month May 2020:

Date Transactions

1 Bought goods on time £220 from D. Small.

2 Bought goods on time £410 from a. lyon & son.

5 Sold goods on time to D. Hughes for £60.

6 Sold goods on time to M. Spencer for £45.

10 Returned goods £15 to D. Small.

11 Goods sold for cash £210.

12 Goods bought for cash £150.

19 M. Spencer returned £16 goods to us.

21 Goods sold for cash £175.

22 Paid cash to D. Small £205.

30 D. Hughes paid the amount owing by him £60 in cash.

31 Bought goods on time £214 from A. Lyon & Son.

Solve the homework in your copy and submit it in class on the first day after the

vacation.

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