QUESTION FOUR 11 Mark! (A) I. Define Book Of Original Entry. 11. Mention Any Four (4) Books Of Original Entry. [2 Marks] (B) Carol A Sole Proprietor Made The Following Transactions In March 2014 March 1: Credit Purchases From: Martin GHC2,000; Jacob GHC1,500; Ernest GHC1,250; In Each Case A Trade Discount Of 5% Allowed 3: Credit Sales To: Addo GHC2,500;

 

 

QUESTION FOUR (a) I. Define Book of Original Entry. II. Mention any four (4) Books of Original Entry. (b) Carol a sole proprietor made the following transactions in March 2014 [1 mark [2 marks] March 1: Credit purchases from: Martin GHC2,000; Jacob GHC1,500; Ernest GHC1,250; in each case a trade discount of 5% allowed 3: Credit sales to: Addo GHC2,500; Michael GHC1,500; Djan GHC1,000; in each case a trade discount of 7.5% 9: Credit purchases from: Martin GHC1,500; Yaa GHC1,100 EXAMINER: RICHMOND OBENG Page 3 of 4 148 12: Credit sales to: Michael GHC3,300; subject to 7.5% trade discount, Robert GHC900 18: Credit purchases from: Yaa GHC2,000; Nii GHC1,250; Oduro 1,350 20: Credit sales to: Owusu GHC3,000; Robert GHC1750; Okyere GHC2,250 28: Goods returned to Carol from: Addo GHC500; Okere GHC200; Owusu GHC400 30: Carol returns goods to: Jacob GHC100; Ernest GHC150; Yaa GHC250 You are required to: I. Open the relevant subsidiary books, and II. Post the transactions to their relevant ledgers [8 marks] [9 marks]