A three-column cash book for a wine wholesaler is to be written up from the following details,
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A three-column cash book for a wine wholesaler is to be written up from the following details, balanced-off, and the relevant discount accounts in the general ledger shown. 2012 Mar
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1 Balances brought forward: Cash 620; Bank 7,142. 2 The following paid their accounts by cheque, in each case deducting 5 per cent cash discounts: G. Slick 260; P. Fish 320; T. Old 420 (all amounts are pre-discount). Paid rent by cheque 430. 4 6 F. Black lent us 5,000 paying by cheque. 8 We paid the following accounts by cheque in each case deducting a 2/2 per cent cash discount: R. White 720; G. Green 960; L. Flip 1,600 (all amounts are pre-discount). Paid motor expenses in cash 81. 10 12 J. Pie pays his account of 90, by cheque 88, deducting 2 cash discount. 15 Paid wages in cash 580. 18 The following paid their accounts by cheque, in each case deducting 5 per cent cash discount: A. Pony 540; B. Line & Son 700; T. Owen 520 (all amounts are pre-discount). Cash withdrawn from the bank 400 for business use. 21 24 Cash drawings 200. 25 Paid W. Peat his account of 160, by cash 155, having deducted 5 cash discount. 29 Bought fixtures paying by cheque 720. 31 Received commission by cheque 120.
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The question seems to be asking for a threecolumn cash book to be written up and balanced off based on the provided transactions for a wine wholesaler as well as to show the entries related to the dis...View the full answer
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Related Book For
Frank Woods Business Accounting
ISBN: 9780273759287
12th Edition
Authors: Frank Wood. Sangster, Alan
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