The following information is to be recorded: 1. Opening balances are: Cash Bank 2. Cash sales...
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The following information is to be recorded: 1. Opening balances are: Cash Bank 2. Cash sales 3. Credit purchases from P 4. Wages paid in cash 5. Cash banked 6. Credit sales to Q 7. Paid P $250 less 10% discount, by cheque 8. Received cash from Q, $200 less 5% discount 9. Sent goods to R on approval (i.c. on sale or return) costing $60 with selling price $135 10. Wages paid by cheque 11. R returns one-third of the goods sent on approval, accepts one-third and delays a decision on the remainder 12. Bank charges notified 13. Receive halance due from Q, less discount of 4% in cash. Requirement Enter the missing figures in the three-column cash book. Due (S) Cade (5) Cash book Bank (8) Trial balance Debi ($) Credit (5) Di ($) $50 $100 $500 $400 $100 $200 $300 $100 $30 Gob ($) Bauk (5) The following information is to be recorded: 1. Opening balances are: Cash Bank 2. Cash sales 3. Credit purchases from P 4. Wages paid in cash 5. Cash banked 6. Credit sales to Q 7. Paid P $250 less 10% discount, by cheque 8. Received cash from Q, $200 less 5% discount 9. Sent goods to R on approval (i.c. on sale or return) costing $60 with selling price $135 10. Wages paid by cheque 11. R returns one-third of the goods sent on approval, accepts one-third and delays a decision on the remainder 12. Bank charges notified 13. Receive halance due from Q, less discount of 4% in cash. Requirement Enter the missing figures in the three-column cash book. Due (S) Cade (5) Cash book Bank (8) Trial balance Debi ($) Credit (5) Di ($) $50 $100 $500 $400 $100 $200 $300 $100 $30 Gob ($) Bauk (5)
Expert Answer:
Answer rating: 100% (QA)
Sure lets break it down 1 Opening Balance This is the starting balance in the cash book Its 550 2 Ca... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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