[ajay09lama]

hello, I have problem with my assignment. Can anyone help me with one question?
I have to prepare journals, ledger, trial balance, profit and loss and balance sheet.
Jan 6
Bought spare parts on credit 27000
cash sale 62500
Jan 7
charged Moji for repairs 5000
sold spare parts to Koba on credit 1500
pay rent 1000
Paid subscription to motor repairs association 300
Jan 8
cash sale 9500
Bought tow truck on credit 150000
Paid cash as deposit on truck 45000
Jan 10
Paid electricity 2500
Received fees for parking space provided 4000
received new signboard in payment of spare parts sold valued 6000
moji paid his account 5000

I will be very grateful if anyone can help me, I have no idea how to do it.
Thank you

[pready]

First thing you need to do is journalize your transactions. For an example on Jan 6 you have 2 transactions:
Debit Spare Parts (or appropriate inventory accounts) for the amount
Credit Accounts Payable for the amount

Debit Cash for the amount
Credit Sales Revenue for the amount

After you have journalized your transactions you need to set-up your ledgers where you transfer your journal entries to your ledger, then you will calculate your account balances.

After you have determined your account balances you can do a trial balance. From the trial balance you will be able to prepare your Income Statement and your Balance Sheet.