March 01: cash balance $1,450 ( bank balance $1,500 (
march 02: paid mark & co. by check $120.
march 04: received from john & co. a check amounting to $400.
march 05: deposited into bank the check received from john & co. on march 04.
march 08: purchased stationary for cash, $25.
march 12: purchased merchandise for cash, $525.
march 13: sold merchandise for cash, $1,800.
march 15: cash deposited into bank, $850.
march 17: withdrew from bank for personal expenses, $40.
march 19: issued a check for merchandise purchased, $630.
march 20: drew from bank for office use, $150.
march 22: received a check from peter & co. and deposited the same into bank immediately, $880.
march 25: paid a check to daniel inc. for $270.
march 26: bought furniture for cash for office use, $175.
march 28: paid office rent by check, $120.
march 29: cash sales, $650.
march 30: withdrew from bank for office use, $145.
march 31: paid salary to employees by check, $300.
required:   record the above transactions in a double column cash book and post entries there from into relevant ledger accounts.

Balance Dr side, Cash column $2,850, Bank column $4,030

Balance Cr side, cash column $2,850 Bank column $4,030

Balance C/d Dr side Cash column $415, Balance C/d Cr side Bank column $2,255

Balance B/d Dr side Bank column$2,255, Balance B/d Cr side Cash column $415

Explanation:

Double Column Cash Book

March 1 Balance : Cash Dr $1,450, Bank Dr$ 1,500

March 2 Mark Bank Cr $120

March 4 John Bank Dr $400

March 5 Bank Dr $400

March 8 stationery Cash Cr$ 25

March 12 merchandise Cash Cr $1,800

March 15 Cash contra entry Bank Dr $850, Cash Cr$850

March 17 withdrawal contra entry Cash Dr $40, Bank Cr $40

March 19 merchandise Bank Cr $630

March 20 withdrawal contra entry Cash Dr $150, Bank Cr $150

March 22 Cash Bank Dr $880

March 25 Bank Bank Cr $270

March 26 Furniture Cash Cr $175

March 28 Office Rent Bank Cr $120

March 29 Sales Cash Dr $650

March 30. Bank contra entry Cash Dr $145, Cash Bank Cr $145

March 31 Salary Bank Cr $300

Balance Cash column Dr side $2,850, Bank column Dr side $4,030

Balance Cash column Cr side $2,850, Bank column Cr side $4,030

Balance carried down Cash column Dr side $415, Balance carried down Bank column Cr side $2,255

Balance Brought down Bank column Dr side $2,255, Balance Brought down Cash column $415

Ledger entry

Capital Account : Cr $ 2,950 ( cash balance + bank balance)

Sales Account Cash Cr $650

Purchase Account : stationery Dr $25,Merchandise Dr $1,800, Merchandise Dr $630 Total $2,455

Bank Account Dr side Mark and co $120, Office Rent $120, Salary $300, Daniel Inc $270 Total $2,530,Balance carried down $1,720

Bank Account Cr side John $400, Bank $400,Peter and co $880,Cash $850 Total $2,530

Drawing Account : withdrawal Dr$40, withdrawal Dr $150, withdrawal Dr $145 Total $335

Cash Account :withdrawal Cr $40, withdrawal Cr $150, withdrawal Cr $145

Furniture Account : Cash $175

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

3rd the reason why is because of management and leadership