CSEC Principles of Accounts · May/June 2015 · Paper 2 · Question 1(a)

A list of business transactions for Len Hanson during April 2014 includes: April 01 starting business with 7 800 in bank; April 05 credit purchase of goods from Yazmin Company list price 1 800 less 10% trade discount (5% cash discount if within 30 days); April 06 sales of goods valued at 290 to Jon, 120 paid by cheque and balance later; April 10 owner took 60 goods for personal gift; April 15 purchased equipment on credit from Equipo Company 3 500; April 16 returned goods list price 160 to Yazmin Company; April 20 returned 250 equipment to Equipo Company; April 25 settled Yazmin Company account by cheque; April 28 settled Equipo Company account by cheque receiving $50 discount.

From 01 April 2014, analyse and record EACH of the transactions in appropriate accounts in the General Ledger provided on pages 3-6. (Round off all figures to the nearest whole number.)