John Edward, a sole trader, had the following cash book balances at 1 June year 3...
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John Edward, a sole trader, had the following cash book balances at 1 June year 3 Cash in hand: £ 2,840 Dr Bank: £ 5,700 Dr The following are his transactions for the month of June year 3 June 3 E 24 . Received a cheque of £1,520 from D Pole in full settlement of debt of £1,530 Cash sales £1,720; banked the same day 5 11 Withdrew £500 from bank to make cash in office 16 Sent cheque £1,028 to C Hill in settlement of a debt of £1,040 23 Paid £710 in cash to A Dobbs in settlement of a debt of £720 29 Received £517 in cash from E Lawler in settlement of a debt of £525 Required Draw up the 3-column cash book of John Edward for the month of June year 3. Total discount columns; and balance the cash and bank columns, bringing down the balances at 1 July, year 3. Use the suggested layout below: Dr Date Account Discount name allowed (£) CASH BOOK Date Cash Bank (£) (£) Account name Discount received (£) Cash (£) Cr Bank (£) John Edward, a sole trader, had the following cash book balances at 1 June year 3 Cash in hand: £ 2,840 Dr Bank: £ 5,700 Dr The following are his transactions for the month of June year 3 June 3 E 24 . Received a cheque of £1,520 from D Pole in full settlement of debt of £1,530 Cash sales £1,720; banked the same day 5 11 Withdrew £500 from bank to make cash in office 16 Sent cheque £1,028 to C Hill in settlement of a debt of £1,040 23 Paid £710 in cash to A Dobbs in settlement of a debt of £720 29 Received £517 in cash from E Lawler in settlement of a debt of £525 Required Draw up the 3-column cash book of John Edward for the month of June year 3. Total discount columns; and balance the cash and bank columns, bringing down the balances at 1 July, year 3. Use the suggested layout below: Dr Date Account Discount name allowed (£) CASH BOOK Date Cash Bank (£) (£) Account name Discount received (£) Cash (£) Cr Bank (£)
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Here is the three column cash book for John Edward for the month of June year 3 Cash Book John Ed... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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