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The following transactions related to Kioko Traders for the month of May 2012

      

The following transactions related to Kioko Traders for the month of May 2012

May 2: Sold goods on credit to Asunta sh.24, 000 and Janet sh.32, 000
May 8: Bought goods on credit from Patel Traders sh.80, 000
May 12: Asunta returned goods worth sh.4, 000
May 15: Purchased goods on credit from Karoki sh.68, 000 and Petero sh.62, 100
May 20: Goods worth sh. 12,000 were returned to Patel Traders and goods worth sh.6, 000 to Karoki
May 23: Goods sold on credit to Asunta sh. 16,000, Tom sh.22000 and Joseph sh.26, 000 May 27: Goods
returned by Janet sh.4, 000
May 30: Purchased a motor vehicle on credit worth sh. 1,000,000 from General motors

Prepare the relevant journals.

  

Answers


sharon
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sharon kalunda answered the question on September 3, 2019 at 11:52


Next: The following information relates to Muindi Traders.Stock (1/1/2011)............ 30.000Stock (31/12/2011)........... 15,000Purchases..................... 150,000Mark up .......................20%Prepare the trading account for the period ended 31/12/2011.
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