11) On 1 June 2014, the books Nabila show the following balances: Cash in hand Cash...
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11) On 1 June 2014, the books Nabila show the following balances: Cash in hand Cash at bank Office equipment $300 $6,875 $15,000 Transactions for the month of June 2014 are as follows: June 1 Sold goods on credit to Azizi. Sold goods on credit to Nadiah Purchased goods on credit from Best Eastern. Received invoice of goods from Mac Co. 2 Paid Best Eastern by cheque to settle invoice $2,500 less 5% discount. Received cheque $1,500 from Azizi to settle an invoice $1,550. 3 Paid electricity by cash. 4 Bought goods on credit from Best Eastern. 10 Cash sales 11 Transferred cash from office to bank. 12 Bought a computer for office use, paid by cheque. 16 18 The owner drew a business's cheque to pay his son's tuition fees. Received cheque for $640 from Nadiah in full settlement of an amount of $660. 20 Cheque from Nadiah returned by bank marked "Refer to Drawer". 21 Sold goods on credit Azizi. 22 Paid Mac Co. by cheque $2,350 in full settlement amount of $2,400. 25 Cash sales 29 Transferred cash from office to bank Paid insurance by cheque. 30 Received cheque for commission. Paid wages by cash. Paid cheque for $1,425 to Best Eastern after deducting 5% discount. Bank charges. You are required to prepare the: a) Three-column cash book b) Ledger accounts. S 3,560 1,870 6,980 2,400 125 1,250 3,500 1,500 3,000 2,185 1,660 3,245 3,200 750 800 1,500 20 11) On 1 June 2014, the books Nabila show the following balances: Cash in hand Cash at bank Office equipment $300 $6,875 $15,000 Transactions for the month of June 2014 are as follows: June 1 Sold goods on credit to Azizi. Sold goods on credit to Nadiah Purchased goods on credit from Best Eastern. Received invoice of goods from Mac Co. 2 Paid Best Eastern by cheque to settle invoice $2,500 less 5% discount. Received cheque $1,500 from Azizi to settle an invoice $1,550. 3 Paid electricity by cash. 4 Bought goods on credit from Best Eastern. 10 Cash sales 11 Transferred cash from office to bank. 12 Bought a computer for office use, paid by cheque. 16 18 The owner drew a business's cheque to pay his son's tuition fees. Received cheque for $640 from Nadiah in full settlement of an amount of $660. 20 Cheque from Nadiah returned by bank marked "Refer to Drawer". 21 Sold goods on credit Azizi. 22 Paid Mac Co. by cheque $2,350 in full settlement amount of $2,400. 25 Cash sales 29 Transferred cash from office to bank Paid insurance by cheque. 30 Received cheque for commission. Paid wages by cash. Paid cheque for $1,425 to Best Eastern after deducting 5% discount. Bank charges. You are required to prepare the: a) Three-column cash book b) Ledger accounts. S 3,560 1,870 6,980 2,400 125 1,250 3,500 1,500 3,000 2,185 1,660 3,245 3,200 750 800 1,500 20
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SOLUTION a Threecolumn cash book for June 2014 Date June 1 Particulars Azizi Sales Cash Received Cash Paid 3560 Balance 3560 Date June 1 Particulars N... View the full answer
Related Book For
Principles of Financial Accounting chapters 1-17
ISBN: 978-1259687747
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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