The following transactions relate to Munene traders during the month of March 2014. March 1 Started business with Ksh. 200,000 in the bank March 2...

      

The following transactions relate to Munene traders during the month of March 2014.
March 1 Started business with Ksh. 200,000 in the bank
March 2 Purchased goods worth ksh. 50000 via cheque
March 3 Sold goods by cash ksh. 10,000
March 13 Bought equipment from Maasai traders of kshs. 80,000 on credit
March 15 Sold goods worth 15,000 to Kemere on credit
March 16 Kamere returned goods worth shs. 2000 due to them being faulty
March 21 Took goods worthy ksh. 3000 for personal use
March 25 Took ksh. 10000 from the cash in to the bank account
March 31 Paid salaries via cheque of ksh. 60,000
Required
Pass the necessary journal entries. (8mks)
b) Open relevant accounts to record the above transactions and balance them. (12mks)

  

Answers


RUTH
Please find the attached pdf file for the answers. Thank you
RUTH JUMAH answered the question on April 23, 2019 at 11:56

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