During the month of February 2015, the following transactions occurred affecting the accounts of Rishi, a trader.
Question:
During the month of February 2015, the following transactions occurred affecting the accounts of Rishi, a trader. Rishi maintains all seven books of prime entry as part of his books of account. In the case of each transaction. decide which book of prime entry should be used to make the first entry in the accounting system.
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Feb 4 Received an invoice for goods for resale 7 Paid a trade payable by cheque 11 A voucher showed the payment of travel expenses in cash 15 Received a credit note from a trade payable for goods damaged in transit 17 Cancelled the entries for a cash discount that had been incorrectly deducted by a customer when setting their account 18 Acheque was drawn for the payment of wages 22 Received an invoice for a new vehicle for business use 24 Issued a credit note to a trade receivable for goods returned as unsuitable 28 Corrected a mistake in the accounts where the wrong amount had been debited and credited in the ledger accounts
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ANSWER 7 Cash Book 11 Petty Cash Book 15 Purchases Book 17 Cash Book 21 Cash ...View the full answer
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Accounting For Cambridge International AS And A Level
ISBN: 9780198399711
1st Edition
Authors: Jacqueline Halls Bryan, Peter Hailstone
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