Preparation of Vendor's Account And Balance Sheet - SS3 Accounting Past Questions and Answers - page 1
Question:
The following transactions were derived from the books of AYO’s Bakery for the month of June 2022. You are required to prepare in tabular form:
-
The vendor’s accounts
-
The balance sheet
|
Date |
Transaction |
Amount |
|
06/01/2022 |
Purchased flour and sugar from Flour Mills Ltd. |
₦50,000 |
|
06/03/2022 |
Sold cakes and pastries to Mrs Adebayo |
₦15,000 |
|
06/05/2022 |
Paid rent for the bakery |
₦20,000 |
|
06/08/2022 |
Purchased baking equipment from Bakers World Ltd. |
₦70,000 |
|
06/10/2022 |
Sold bread and pies to Mr Smith |
₦10,000 |
|
06/15/2022 |
Received payment from Mrs Adebayo |
₦15,000 |
|
06/18/2022 |
Paid salary to employees |
₦40,000 |
|
06/20/2022 |
Purchased packaging materials from Packaging Solutions Ltd. |
₦5,000 |
|
06/22/2022 |
Sold cakes and pastries to Mr Olawale |
₦18,000 |
|
06/25/2022 |
Paid electricity bill for the month |
₦7,000 |
|
06/28/2022 |
Purchased additional baking supplies from Flour Mills Ltd. |
₦30,000 |
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