Question 9: (from chapter 15)

A. Henriques has the following purchases and sales for May 2020:

1 Sold to M. Marshall the following (in s), less 25 per cent trade discount:

Brass goods

34

Bronze goods 46

7 Sold to R. Richards. Marshall the following (in s), less 33.33 per cent trade discount:

Tin goods

80

Lead goods 9 Bought from C. Clarke the following (in s), less 40 per cent trade discount:

240

Tin goods

410

16 Bought from A. Charles the following (in s), less 50 per cent trade discount:

Copper goods

330

23 Sold to T. Young the following (in s), less 20 per cent trade discount:

Tin goods Brass goods

60

80

Lead goods

90

31 Bought from M. Nelson the following (in s), less 50 per cent trade discount:

Brass goods

110

(a) Write up the sales and purchases day books, having in mind that (as opposed to cash discounts) trade discounts are deducted directly from purchases/sales right at the ginning and it's the net amount affter discount which will be recorded. (no need to separate sales of different types of goods)

(b) Post the items to the personal accounts.

(c) Post the totals of the day books to the sales and purchases accounts.

Question 9: (from chapter 15) A. Henriques has the following purchases and sales for May 2020: 1 Sold to M. Marshall the following (in s), less 25 per cent trade discount: Brass goods 34 Bronze goods 46 7 Sold to R. Richards . Marshall the following (in s), less 33.33 per cent trade discount Tin goods 80 Lead goods 240 9 Bought from C. Clarke the following (in s), less 40 per cent trade discount: Tin goods 410 16 Bought from A. Charles the following (in s), less 50 per cent trade discount: Copper goods 330 23 Sold to T. Young the following (in s), less 20 per cent trade discount Tin goods 60 Brass goods 80 Lead goods 31 Bought from M. Nelson the following (in s), less 50 per cent trade discount: Brass goods 110 (a) Write up the sales and purchases day books, having in mind that (as opposed to cash discounts) trade discounts are deducted directly from purchases/sales right at the xinning and it's the net amount after discount which will be recorded. (no need to separate sales of different types of goods) (b) Post the items to the personal accounts. 90 . (c) Post the totals of the day books to the sales and purchases accounts