Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Jul 2017 My Price 10.00

ledger accounts

The following transactions relate to a dairy, converting milk to cheese, for the month of May. Prepare ledger accounts which record the transactions.

1 May

Bought 600 drums of milk from supplier on credit, invoiced price being £90,000

1 May

Bought cartons, cost £6,000 paid in cash

2 May

Returned to supplier one drum damaged in transit, £150

3 May

500 drums of milk issued to cheesemaking department, cost £75,000

4 May

Issued two-thirds of cartons to cheesemaking department, £4,000

14 May

Paid cheesemakers’ wages £3,000

14 May

Paid wages for cleaning and hygiene £600

16 May

Paid rent, rates and electricity in respect of printing, £8,000, in cash

28 May

Paid cheesemakers’ wages £3,000

28 May

Paid wages for cleaning and hygiene £600

31 May

Transferred all production of cheese in cartons to finished goods inventory.

31 May

No work-in-progress at end of month.

31 May

Finished goods stock value at £6,000

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Jul 2017 09:07 PM My Price 10.00

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