On October 1, 2017, Kay Breeze launched a computer service Cap

company, Success Systems that is organised as a sole proprietorship Date Detail

and provides consulting services, computer system installation, and 31-Oct-17 Bal c/d
custom programme development. During the month of October, the
following transactions took place:

Oct 1 Kay Breeze invested Cash $20,000 bank $55,000, a

$20,000 computer system, and $8,000 of office equipment in the
business.
3 Purchased $1,420 of computer supplies on credit from
Cain Office Products.
6 Billed Easy Leasing $4,800 for services performed in
installing a new Web server. Ban
8 Paid $1,420 cheque for the computer supplies purchased Date Detail
from Cain Office Products on October 3.
12 Billed Easy Leasing another $1,400 for services 31-Oct-17 Bal b/d
performed.
15 Received $4,800 by cheque from Easy Leasing on its
account.
17 Paid $805 cash to repair computer equipment damaged
when moving it.
Withdrew $500 cash from the bank for office use. 1-Nov-17 Bal c/d
20 Paid $1,940 cash for an advertisement in the local
newspaper.
22 Received $1,400 cash from Easy Leasing on its account.
28 Billed Clark Company $5,208 for services performed.
31 Paid $875 cash for Sherry Adam’s wages for seven days of
work.
31 Breeze withdrew $3,600 bank for personal use. Kay B
Date Detail
Required:
Post the following transactions in ‘T’ account format. 9-Oct-17 Bank
Prepare a Trial Balance as at that date
1-Nov-17 Bal b/d

Office Eq
Date Detail
31-Oct-17

1-Nov-17 Bal b/d

Easy L
Date Detail
6-Oct-17 Sales
12-Oct-17 Sales

Clark Co
Date Detail
28-Oct-17 Sales

1-Nov-17 Bal b/d

 T-Accounts

Capital A/C
Amount ($) Date Detail Amount ($) Date
$ 103,000.00 1-Oct-17 Cash $ 20,000.00 1-Oct-17
Bank $ 55,000.00 22-Oct-17
Computer Supplies $ 20,000.00
Computer Equipment $ 8,000.00
$ 103,000.00 $ 103,000.00
1-Nov-17 Bal b/d $ 103,000.00 1-Nov-17

Bank A/C
Amount ($) Date Detail Amount ($) Date
$ 55,000.00 1-Oct-17 Cain Office $ 1,420.00 3-Oct-17
$ 4,800.00 8-Oct-17 Office Equipment $ 500.00
9-Oct-17 Kay Breeze $ 3,600.00 1-Nov-17
___________ 31-Oct-17 Bal c/d $ 54,280.00
$ 59,800.00 $ 59,800.00
$ 54,280.00
Date
1-Oct-17

1-Nov-17
Kay Breeze A/C
Amount ($) Date Detail Amount ($)
$ 3,600.00 1-Nov-17 Bal c/d $ 3,600.00
$ 3,600.00 $ 3,600.00 Date
$ 3,600.00 8-Oct-17

Office Equipment A/C

Amount ($) Date Detail Amount ($)
$ 8,000.00 1-Nov-17 Bal c/d $ 8,000.00 Date
$ 8,000.00 $ 8,000.00 31-Oct-17
$ 8,000.00
1-Nov-17

Easy Leasing A/C

Amount ($) Date Detail Amount ($)
$ 4,800.00 15-Oct-17 Bank $ 4,800.00 Date
$ 1,400.00 22-Oct-17 Cash $ 1,400.00 31-Oct-17

1-Nov-17
Clark Company A/C
Amount ($) Date Detail Amount ($)
$ 5,208.00 29-Oct-17 Bal c/d $ 5,208.00
$ 5,208.00 $ 5,208.00
$ 5,208.00

Trial Balance
Details Debit Credit
Capital $ 103,000.00
Cash $ 18,280.00
Bank $ 54,280.00
Computer System $ 20,000.00
Office Equipment $ 8,000.00
Services Performed $ 11,408.00
Purchases $ 1,420.00
Repair $ 805.00
Advertisement $ 1,940.00
Clarke Company $ 5,208.00
Sherry Adams $ 875.00
Kay Breeze $ 3,600.00
$ 114,408.00 $ 114,408.00
ts

Cash A/C
Detail Amount ($) Date Detail Amount ($)
Capital $ 20,000.00 17-Oct-17 Computer Equipment $ 805.00
Easy Leasing $ 1,400.00 20-Oct-17 Advetisement $ 1,940.00
Bank $ 500.00 31-Oct-17 Sherry Adams $ 875.00
31-Oct-17 Bal c/d $ 18,280.00
$ 21,900.00 $ 21,900.00
Bal b/d $ 18,280.00

Purchases A/C
Detail Amount ($) Date Detail Amount ($)
Cain Office Products $ 1,420.00 1-Nov-17 Bal c/d $ 1,420.00
$ 1,420.00 $ 1,420.00
Bal b/d $ 1,420.00

Computer System A/C

Detail Amount ($) Date Detail Amount ($)
$ 20,000.00 1-Nov-17 Bal c/d $ 20,000.00
$ 20,000.00 $ 20,000.00
Bal b/d $ 20,000.00

Cain Office Products A/C

Detail Amount ($) Date Detail Amount ($)
Bank $ 1,420.00 3-Oct-17 Purchases $ 1,420.00

Advertisement A/C
Detail Amount ($) Date Detail Amount ($)
$ 1,940.00 1-Nov-17 Bal c/d $ 1,940.00
$ 1,940.00 $ 1,940.00
Bal b/d $ 1,940.00
 Sherry Adams A/C
Detail Amount ($) Date Detail Amount ($)
Cash $ 875.00 1-Nov-17 Bal c/d $ 875.00
$ 875.00 $ 875.00
Bal b/d $ 875.00 $ 875.00
 F. Dunbar
Statement of Profit or Loss
as year ending 30 Sept 2017
Sales $ 451,116.00
Returns Inward $ (2,110.00)
Net Sales $ 449,006.00
Cost of Sales
Opening Inventory $ 72,410.00
Purchases $ 254,810.00
Carriage Inward $ 760.00
Return Outward $ (2,212.00)
Closing Inventory $ (89,404.00)
Cost of Sales $ 236,364.00
Gross Profit $ 212,642.00
Expenses:
Carriage Outwards $ 1,490.00
Motor Expenses $ 2,850.00
Rent $ 9,045.00
Telephone Charges $ 3,680.00
Wages & Salaries $ 42,500.00
Insurance $ 2,300.00
Office Expenses $ 392.00
Sundry Expenses $ 2,712.00
Total Expenses $ 64,969.00
Net Profit $ 147,673.00
5
 F. Dunbar
Statement of Financial Position
as at 30 September 2017.
Assests
Non - Current:
Van $ 64,452.00
Office Equipment $ 13,470.00
Total Non - Current: $ 77,922.00
Current Assets:
Inventory (at end) $ 89,404.00
Account Receivables $ 38,100.00
Cash at Bank $ 34,420.00
Cash in Hand $ 1,120.00
Interest Rate $ 204.00
Total Current: $ 163,248.00
Total Assests: $ 241,170.00
Equity/Capital at Start $ 57,547.00
Net Profit $ 147,673.00
Drawings $ (28,600.00)
Capital at End $ 176,620.00

Non - Current Liabilities

Mortgage $ 38,250.00
Current Liabilities
Accoutns Payable $ 26,300.00
Total Capital/Liabilites $ 241,170.00