Question Two: (15 Marks) the following transactions in the books of A. Yazji, then balance the accounts and extract a trial balance at 30 September 2014. Sept 1 Started business with $10,000 in the bank. Sept 2 Withdrew $2,000 from the bank and paid into the cash. Sept 4 Bought goods for cash $550. Sept 5 Bought goods on credit from T. Ghazal $800, K. Qishta $930 Sept 6 Bought furniture costing $2000 from Modern Furniture. A cash payment of $500 was made immediately; the remainder will be paid later. Sept 8 Paid insurance $1,800 by cheque. Sept 11 Bought stationery for $200 by cheque from Al Bookshop. Sept 12 Sold goods on credit to S. Hasan $600, A. Abdullah $920. Sept 15 Returned goods to K. Qishta $130. Sept 20 S. returned goods for $100. Sept 22 Received cash $300 from S. Hasan, and $ 130 from F. Ali. Sept 26 Cash sales $240. Sept 27 Paid by cheque $500 to T. Ghazal, and $400 to K.Qishta. Sept 28 Paid $150 cash for electricity and water expense. Sept 30 Withdrew $100 cash for private use. Good Luck
Question Two: (15 Marks) the following transactions in the books of A. Yazji, then balance the accounts and extract a trial balance at 30 September 2014. Sept 1 Started business with $10,000 in the bank. Sept 2 Withdrew $2,000 from the bank and paid into the cash. Sept 4 Bought goods for cash $550. Sept 5 Bought goods on credit from T. Ghazal $800, K. Qishta $930 Sept 6 Bought furniture costing $2000 from Modern Furniture. A cash payment of $500 was made immediately; the remainder will be paid later. Sept 8 Paid insurance $1,800 by cheque. Sept 11 Bought stationery for $200 by cheque from Al Bookshop. Sept 12 Sold goods on credit to S. Hasan $600, A. Abdullah $920. Sept 15 Returned goods to K. Qishta $130. Sept 20 S. returned goods for $100. Sept 22 Received cash $300 from S. Hasan, and $ 130 from F. Ali. Sept 26 Cash sales $240. Sept 27 Paid by cheque $500 to T. Ghazal, and $400 to K.Qishta. Sept 28 Paid $150 cash for electricity and water expense. Sept 30 Withdrew $100 cash for private use. Good Luck
AP1-mid-20141.docx