Question
QUESTION FOUR A three-column cash book for a stationery wholesaler is to be written up from the following details, balanced off, and the relevant discount
QUESTION FOUR A three-column cash book for a stationery wholesaler is to be written up from the following details, balanced off, and the relevant discount accounts in the general ledger shown. September 2019
1. Balance brought forward: Cash GHC620; Bank GHC7,142
2. The following paid their accounts by cheque, in each case deducting 5percent cash discount; Stephen GHC260; Frank GHC320; Obed GHC420 (all amounts are pre-discount)
3. Piad rent by Cheque 4. Black lent us GHC5,000 paying by cheque
5. We paid the following by cheque in each case deducting a 2 and half percent cash discount: White GHC720; Green GHC960; Felix GHC1,600 (all amounts are pre-discount)
6. Paid motor expenses in cash GHC81
7. Patrick pays his account GHC90, by cheque GHC88, GHC2 cash discount.
8. Paid wages in cash GHC580
9. The following paid their accounts by cheque, in each case deducting 5% cash discount; Peter GHC540; Linda GHC700; Olivia GHC520 (all amounts are pre-discount)
10. Cash withdrawn from the bank GHC400 for business use
11. Cash drawings GHC200 12. Paid Peace her account of GHC160, by cash GHC155, having deducted GHC5 cash discount
13. Bought fixtures paying by cheque GHC720
14. Received commission by cheque GHC120
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