Question
On 1st May 2021, Remy Nigeria Ltd started business with N24,375 as cash and balance of N468,900 in the bank account. The following are the
On 1st May 2021, Remy Nigeria Ltd started business with N24,375 as cash and balance of N468,900 in the bank account. The following are the transactions of the, Remy Nigeria Ltd month of May, 2021
The company maintained the following assets in its book:
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Building worth of N2,000,000
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Computers worth N350,000
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Furniture worth N395,000
May 3 Received the sum of N79,875 from Niger
May 6 Sum of N15,000 was received in cash from Kunle
May 6 Sold 10 bags of cement at N3500 each to Niger
May 6 Sold 5 bags of cement at N3500 each to Adam paid by cheque
May 7 Deposited N37,500 into the bank
May 8 Paid wages of N56,200
May 13 Paid Kano Ltd account of N16,500
May 13 Bought 100 bags of cement on credit from Iyaji at N2000
May 15 Laraba settle her account of N56,250
May 19 Sold goods to Mubarak on credit N64,125
May 25 Received cheques from Mubarak
May 29 Paid wages by cheque N56,250
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Bank Strategy, Governance And Ratings
Authors: P. Molyneux
3rd Edition
0230313345, 9780230313347
