The following transactions relate to Kencom Enterprises. You are required to complete the double entry in the relevant accounts for the month of May, 2013.

The following transactions relate to Kencom Enterprises. You are required to complete the double entry in the relevant accounts for the month of May, 2013.

01/05/2013: Started business by depositing Ksh 200,000 in the bank.
02/05/2013: Purchased goods worth Ksh 17,500 on credit from MM Wholesalers.
03/05/2013: Bought Equipment for Ksh 15,000 paying by cheque.
05/05/2013: Sold goods for cash worth Ksh 27,500.
06/05/2013: Bought goods on credit worth Ksh 11,400 from Pp Shah.
10/05/2013: Paid rent by cash Ksh 1,500.
12/05/2013: Bought stationery for Ksh 2,700, paying in cash.
18/05/2013: Goods returned to MM Wholesalers were amounting to Ksh 2,300.
21/05/2013: Received rent by cheque for Ksh 500.
23/05/2013: Sold goods on credit to Unity for Ksh 7,700.
24/05/2013: Bought a motor vehicle paying by cheque Ksh 30,000.
30/05/2013: Paid the wages by cash amounting to Ksh 11,700.
31/05/2013: The owner made cash drawings for personal use worth Ksh 4,400.

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Kavungya answered the question on August 17, 2021 at 07:50

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