Question

The following transactions relate to Kimau traders for the month of January, 2018
4th Jan: Deposited sh 70,000 into business bank account from cash till.
10th Jan: Paid the following bills by cheque:
Electricity sh 4,000
Insurance sh 2,000
20th Jan: Paid 10,000 by cheque for repairs
Required: Record the transactions in the relevant ledger accounts

Answer 1

Dr	Bank a/c							Cr
Date	Particulars	Folio	Amount		Date	Particulars	Folio	Amount
4th Jan	Cash		70,000		10th Jan 20th Jan 20th Jan	Electricity Insurance Repairs		4,000 2,000 10,000

Dr	Cash a/c							Cr
Date	Particulars	Folio	Amount		Date	Particulars	Folio	Amount
					4th Jan	Bank		70,000

Dr	Electricity a/c							Cr
Date	Particulars	Folio	Amount		Date	Particulars	Folio	Amount
10th Jan	Bank		4,000

Dr	Insurance a/c							Cr
Date	Particulars	Folio	Amount		Date	Particulars	Folio	Amount
10th Jan	Bank		2,000

Dr	Repairs a/c							Cr
Date	Particulars	Folio	Amount		Date	Particulars	Folio	Amount
20th Jan	Bank		10,000