20,400 7,300, wes Pranko tshs 500, and the firm has debts of tshs3000,
QUESTION THREE
Miss Porter's business position at 1 July was as follows:
Ou
tshs
Stock
5,000,000
ZOO
Equipment
3,700,000
Creditor (OK Ltd)
500,000
Debtor (AB Ltd)
300,000
Bank balance
1,200,000
During July, she made the following transactions:
Sold goods for cash - paid to bank
3,200,000
Sold goods to AB Limited
600,000
Bought goods from OK Ltd on credit 3,900,000
Paid OK Ltd by cheque
3,000,000
Paid general expenses by cheque
500,000
AB Ltd paid by cheque
300,000
Stock at 31 July
6,200,000
Required:
(a) Calculate the value of Capital at 1 July (b) Open ledger accounts and Record all
transactions (c) Prepare a trial balance (d) Prepare a trading and profit and loss account for
the period (e) Prepare a balance sheet at 31 July.​

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?