Presented below are transaction related to Frans Ltd.

May 1 Frans invested £ 100,000 in his marker company, a company called Frans Ltd.
2019 10 Purchased equipment billed at £ 20,000 subject to cash discount
terms of 2/10, n/60
11 Purchased supplies billed at £ 15,000 subject to terms of 1/15, n/60
19 Paid invoice of May 10
24 Purchased supplies billed at £ 11,500 subject to cash discount
terms of 2/10, n/30
26 Frans managed to sell on account 7.000 units of markers at a price of
@ £ 4 in cash
28 Received the signature of the sales contract for markers in 2020 from Rudi
Master (RM), 400 pieces at a price of £ 200 per piece (at a cost of £ 100 per
piece). 5% discount if RM buys a minimum of 100 pieces during 2020. At the
beginning of October, 80 pieces were sent and payment was received. Based
on experience RM will take the discount. ( net methode )
29 Sold markers for cash amounting to IDR 3,750,000.00, this price includes a gross profit
of 25% calculated from the cost of goods.
30 Sale markers for IDR 600,000,000.00 on credit.Instruction :

31 On May 31, Frans Ltd has a contract to deliver products to Greek Inc on June 15.
Greece agreed to pay the full contract price of $2,000 on July 15. The product price is $1,300.
Candle delivered its products to Greece on June 15 and received payment on July 15

a. Prepare General Journal

b. Prepare Posting to Ledger
c. Prepare Trial Balance
d. Prepare Adjustment Journal Entry
e. Prepare Financial Statement

Answer
a. Prepare General Journal
b. Prepare Posting to Ledger
c. Prepare Trial Balance
d. Prepare Adjustment Journal Entry