Write up a two-column cash book from the following data. May 01 Balances at start of month
Question:
Write up a two-column cash book from the following data.
Transcribed Image Text:
May 01 Balances at start of month Bank 45.62 (0/d) Cash in till 23.92 May 02 Petrol paid 16.23 cash May 04 Cash sales of 215.00 paid directly into the bank May 06 Sundry expenses paid 6.11 cash May 09 A Kanner lent us 800, paid by cheque May 12 We pay a supplier, A Rogers, by cheque 56 May 14 Rent paid by cheque 67 May 17 Cash withdrawn from bank for business use 30 May 19 Vehicle bought for business use 450 paid by cheque May 22 Withdrew 90 from bank for private use May 23 Sold computer for 150 cash May 24 Commission received in cash 24 May 26 P Cargill, a debtor, pays us 56 cash May 28 Interest paid on overdraft charged directly to bank account for 11.14 May 29 Cash purchases 89.50 May 30 Money worth 100 transferred from cash till to bank account
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
2011 May 01 Balance bd May 04 Sales May 09 A Kanner ...View the full answer
Answered By
Rukhsar Ansari
I am professional Chartered accountant and hold Master degree in commerce. Number crunching is my favorite thing. I have teaching experience of various subjects both online and offline. I am online tutor on various online platform.
5.00+
4+ Reviews
17+ Question Solved
Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
Question Posted:
Students also viewed these Business questions
-
On January 1, 2024, Cullumber Ltd. issued $575,000 of 5%, 5-year bonds. The bonds were issued to yield a market interest rate of 6%. Cullumber's year end is December 31. On January 1, 2026,...
-
"But his work at the plant, while it did provide a living, never seemed to provide a life." What did the author mean by this statement? Have you ever felt this way about your job? What could you do...
-
Define the contextual-equivalence relation ` M =ctx M0 : for pairs of PCF terms M, M0 , PCF types , and PCF type environments . [3 marks] (ii) For PCF terms M and N with respective typings ` M : and...
-
You require inventory and accounts receivable collateral for all C&I loans. You have a guideline of an advance rate of 70% for customer receivables of less than 60 days of age. Older receivables get...
-
What international transactions are included in the current account? What does the capital account include? What are the credit and the debit transactions in the current and capital accounts? What is...
-
A company has outstanding long-term bonds with a face value of $1,000, a 10% coupon rate, 25 years remaining until maturity, and a current market value of $1,214.82. If it pays interest semiannually,...
-
A project has been selected for implementation. The net cash flow (NCF) profile associated with the project is shown below. MARR is 10 percent/year. a. What is the internal rate of return of this...
-
Singh Manufacturing Company makes two different products, M and N. The companys two departments are named after the products; for example, Product M is made in Department M. Singhs accountant has...
-
Calculate Inventory Conversion Period, Receivables Conversion Period, the Payment Conversion Period, and the Operating Cycle for Innovation Inc. given the following information. Use 365 to get an...
-
The following data relates to the cash and bank transactions of J Ashmore for the month of October 2013. You are required to construct the cash book for that month. Oct 1 Balance in cash till 41...
-
The following transactions relate to the cash book of P Rapley for the month of June 2011. Construct the cash book for that month. Jun 01 Balance at bank 450 (debit balance) and 198 cash in hand Jun...
-
A crate of weight Fg is pushed by a force P on a horizontal floor. (a) If the coefficient of static friction is -s and P is directed at angle below the horizontal, show that the minimum value of P...
-
Building an active portfolio. In this problem, we will build an active portfolio, that is, a portfolio consisting of individually selected stocks to complement our passive investments. To do this,...
-
On January 1, 2022, Contreras Corporation purchases 10,000 shares of Home Depot stock for $280 per share. Home Depot had approximately 1 billion shares outstanding at the time of purchase. Contreras...
-
The inability of a pilot to carry out the duties required to fly an aircraft is sometimes called _________. orientation incapacitation discombobulation alienation
-
B&e inc. acquired a registered trademark for $800,000 with a remaining legal life of four years. however, it can be renewed every 10 years. b&e expects to renew the trademark indefinitely. what...
-
3. Using the Internet, choose a country with a credit rating from Standard & Poor's that lies between "B" and "BBB" (inclusive, meaning the country may also be rated either B or BBB) and determine...
-
A bowler projects a 200-mm-diameter ball of mass 5 kg along an alley with a forward velocity v0 of 5 m/s and a backspin 0 of 9 rad/s, knowing that the coefficient of kinetic friction between the ball...
-
Describe the general ways that the revised Form 990, applicable for tax year 2008 and beyond, is different from previous versions.
-
Compute the charitable contribution deduction (ignoring the percentage limitation) for each of the following C corporations. a. Amber Corporation donated inventory of clothing (basis of $24,000, fair...
-
Art, an executive with Azure Corporation, plans to start a part-time business selling products on the Internet. He will devote about 15 hours each week to running the business. Arts salary from Azure...
-
Compute the income tax liability for each of the following unrelated C corporations. a. Darter Corporation has taxable income of $68,000. b. Owl Corporation has taxable income of $10,800,000. c....
-
2. A 500-kg race car is traveling at a constant speed of 14.0 m/s as it travels along a flat road that turns with a radius of 50.0m. Top view Perspective view of rear of page) v14.0m/sp v140m/s 50.0m...
-
In a standard air wedge interference experiment, calculate the thickness (in micrometres) of the wedge which gives the 10th bright fringe for light of wavelength 479 nm. Give your answer to 2d.p.
-
A vessel containing 5.0 kg of water at 10C is put into a freezer. The 1/7 HP motor (1 HP = 746 W) runs for 45.0 minutes to freeze the liquid at temperature 0C. What is the COP of the refrigerator? 1....
Study smarter with the SolutionInn App