Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The cash book of Mercy showed the following transactions on 1 st April 2020. April 1 Mercy commenced business with capital in cash, RM4,500 1

The cash book of Mercy showed the following transactions on 1st April 2020.

April

1

Mercy commenced business with capital in cash, RM4,500

1

Paid cash into bank RM1,700

3

Bought goods from Doris on credit RM4,000

7

Paid Lim RM300 by cash in full settlement of his account of RM450

10

Paid Teoh RM1,300 by cash in full settlement of her account of RM1,400

12

Cash sales RM220

13

Paid cash into bank RM100

15

Paid salaries by cheque RM60

21

Sold goods to L. Sue on credit RM700

24

Paid cash for utility bills RM206

27

Paid D.Canon by cheque RM2,800

28

Received RM1,000 cash from Robert in full settlement of his account of RM1,200. The cash was deposited into bank the same day.

30

Paid commission on sales in cash RM440

Required:

Prepare the 3-column cash book for the month of April 2020 and balance it at 30 April, bringing the balances down as at 1 May 2020.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

12th Canadian edition

119-49633-5, 1119496497, 1119496330, 978-1119496496

Students also viewed these Accounting questions