Edexcel IGCSEAccountingGeneral Applications10 Marks
Lee started a business on 1 January 2020. He provided the following information for the month of January. **January 1** Started business with \50 000 cash. **January 2** Purchased goods on credit from Mia for 3 000. **January 5** Sold goods for cash \2 500. **January 8** Paid rent by cash 800. **January 12** Sold goods on credit to Noah for \4 000. **January 15** Paid Mia by cash 2 000. **January 18** Received cash from Noah \1 500. **January 22** Purchased furniture on credit from XYZ Ltd for 1 200. **January 25** Paid wages by cash \1 000. **January 28** Owner withdrew 500 cash for personal use. Prepare the following ledger accounts for the month of January. (i) Cash account (ii) Mia account (iii) Noah account
- (i)Cash account[10]
- (ii)Mia account[10]
- (iii)Noah account[10]
Mark scheme
Marking points from the official mark scheme. The mark or mark type is shown in brackets.
- C1 for Cash account title (1)
- C1 for Mia account title (1)
- C1 for Noah account title (1)
- M1 for 50 000 Dr capital in Cash (1)
- M1 for 2 500 Dr sales in Cash (1)
- M1 for 800 Cr rent in Cash (1)
- M1 for 2 000 Cr Mia in Cash (1)
- M1 for 1 500 Dr Noah in Cash (1)
- M1 for 1 000 Cr wages in Cash (1)
- M1 for 500 Cr drawings in Cash (1)
- M1 for 3 000 Cr purchases in Mia (1)
- M1 for 2 000 Dr Cash in Mia (1)
- M1 for 4 000 Dr sales in Noah (1)
- M1 for 1 500 Cr Cash in Noah (1)
- A1 for correct Cash balance c/d (49 700 Dr) (1)
- A1 for correct Mia balance c/d (1 000 Cr) (1)
- A1 for correct Noah balance c/d (2 500 Dr) (1)
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