Q2 needed Q1 Prepare the T Accounts for Carrick Ltd for March 2022, completing the balancing off for eachAccount.lQ2 Complete the Trial Balance (TB) for Carrick Ltd for the end of March 2022. Q1 The following transactions relate to Carrick Ltd - during March 2022, which is its first monthof business. The business has two shareholders Rede and Bridget and employs 18 members ofstaff.March TransactionRede invests £75,000 cash into the business.A cash purchase was made for £12,399 from Hughes plc.BT sent a phone invoice of £1,045 to be paid in on the last day of March.A purchase for £5,958 is received from supplier Healy to be paid for in 14 DaysA bank loan of £105,000 was received from Northern Bank.Cash sales of £2,125 were made to Hamilton Ltd.The manager pays rent via DD of £6,957 per month.A credit sale was made to Douglas plc, due in 21 days for £13,901A vehicle is bought for £27,695 on 30 Day credit terms from TC Harrison Ltd.Cash Sales of £8,377 were made.An electricity invoice for £974 was received, to be paid immediately.A credit sale was made to Pepper plc for £17,041A Business Rates Invoice was received for £7,560 to be paid immediately.There was another purchase on the same terms from Healy for £12,697Cash Sales of £9,784 were made.An invoice for water rates for £5,711 was received, to be paid in 10 days.Bridget invested £95,000 into the business.Credit sales were made to Pepper Ltd for £8,363Rede returned 12% of Carrick's first purchase from Healy.One member of staff goes pays £614 for stationery.Carrick Ltd bought Machinery for £37,500 to be paid for in 21 daysCredit Sales for £11,592 made to Douglas plc on the same terms.261233481011121415161617182021212325Cash sales of £4,159 were banked.29Staff are paid wages of 18,645Invoice received for £21,1215 for Fixtures & Fittings. This is due to be paidimmediately.Credit sales of £17,628 were made to Pepper plc.A purchase was made from Healy on the same terms for £13,187Pepper plc returned 27% of their first purchase and then settled payment for their firsttwo invoices.3030303101 Prepare the T Accounts for Carrick I td for March 2022 completing the balancing off for each

Trial balance is an extract of all the ledger account balances based on which the final accounts of…

Answered: la2 Complete the Trial Balance (TB) for…

Business

Accounting

la2 Complete the Trial Balance (TB) for Carrick Ltd for the end of March 2022.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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