Post The Transactions Into The Ledger Accounts And Balance The Ledger: Financial Reporting Assignment, DCU, Ireland
| University | Dublin City University (DCU) |
| Subject | Financial Reporting |
Task 1 – Playa Co.
For the following transactions
1. Post the transactions into the Ledger Accounts and balance the Ledger Accounts as of 31st August 2021, with balances brought down as of 1st September 2021.
2. Extract a Trial Balance, showing separate debit and credit columns
| Aug 1 | Playa Co. commenced business with a capital of €60,000. €10,000 was kept in cash and the balance was lodged into a bank account |
| Aug 2 | Took out a bank loan for €10,000 and lodged these funds into the bank account |
| Aug 4 | Purchased Office Equipment worth €15,000 and paid by EFT, from the bank a/c |
| Aug 5 | Purchased goods worth €13,200 and paid by EFT, from the bank a/c |
| Aug 9 | Purchased goods on credit valued at €10,800 |
| Aug 13 | Sold goods on credit to a customer worth €7,600 |
| Aug 15 | Returned goods to suppliers that had been purchased on credit €900 |
| Aug 21 | Received cash from debtors totaling €4,500 |
| Aug 22 | Paid office expenses by cheque €1,700 |
| Aug 22 | The owner withdrew goods for personal use worth €2,500 |
| Aug 31 | Paid wages by cash €3,200 |
| Aug 31 | Paid outstanding debts to suppliers €8,800 by EFT, from the bank a/c |
| Aug 31 | The owner withdrew cash for personal use €5,000 |
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