24 Bought lorry paying by cheque £14,300.29 Received £324 cheque from A. Line.30 Cash sales £980.30 Bought stationery paying by cash £56. 9.4A Enter the following in the three-column cash book of an office supply shop. Balance-off thecash book at the end of the month and show the discount accounts in the general ledger.June 1 Balances brought forward: Cash £420; Bank £4,940.2 The following paid us by cheque, in each case deducting a 5 per cent cashdiscount: S. Braga £820; L. Pine £320; G. Hodd £440; M. Rae £1,040.3 Cash sales paid direct into the bank £740.5 Paid rent by cash £340.6 We paid the following accounts by cheque, in each case deducting 2'2 percent cash discount: M. Peters £360; G. Graham £960; F. Bell £400.8 Withdrew cash from the bank for business use £400.10 Cash sales £1,260.12 B. Age paid us their account of £280 less £4 cash discount, by cheque.14 Paid wages by cash £540.16 We paid the following accounts by cheque: R. Todd £310 less cash dis-count £15; F. Dury £412 less cash discount £12.20 Bought fixtures by cheque £4,320.

DATE PARTICULARS VOUCHERS NUMBER POSTING NUMBER DISCOUNT CASH BANK DATE PARTICULARS VOUCHER…

Answered: 24 Bought lorry paying by cheque…

24 Bought lorry paying by cheque £14,300. 29 Received £324 cheque from A. Line. 30 Cash sales £980. 30 Bought stationery paying by cash £56.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

QUESTION 1 You are provided with information relating to Umdoni Stores. The following information appeared in the Bank Reconciliation Statement of Umdoni Stores on 30 September 20.19: Balance per bank statement R5 000 Debit 1. The Cash Book showed a credit balance of R5 956 while the bank statement reflected a favourable balance of R4 794 on Balance per Cash Book R6 500 credit 31 October 20.19. Outstanding deposit dated 30 September 20.19 R20 500 On comparing the September bank Reconciliation statement, the October bank statement and the Cash Book for October, the following was noted: To reconcile the balance of the Cashbook with the balance of the Bank statement on 31 October, the Credit balance of R5 965 will be shown as follows: Credit side of Bank account as R5 956 Will not be shown in the Bank account or Bank reconciliation Debit side of Bank account as R5 956 Debit column of Bank reconciliation as R5 956 Credit column of Bank Reconciliation as R5 956
Write up a two-column cash book for a second hand bookshop from the following during the month of November 2020.1st Balance brought forward from last month: cash ¢2950; bank ¢4,2402ndCash sales ¢3,1003rdTook ¢2,000 out of the cash till and paid it into the bank4thF. Bell paid us by cheque ¢1945thPaid for postage stamps in cash ¢806th Bought office equipment by cheque ¢3107th Paid L. Root by cheque ¢94011th Withdrew ¢1,500 from the bank for business use12th Paid wages in cash ¢40013th Cash sales ¢43014th Paid motor expenses by cheque ¢81016thJ. Bull lent us ¢1,500 in cash20thK. Brown paid us by cheque ¢17428thPaid general expenses in cash ¢35030thPaid insurance by cheque ¢320
Entry for cash sales; cash short The actual cash received from cash sales was $83,452, and the amountindicated by the cash register total was $83,480. Journalize the entry torecord the cash receipts and cash sales.
The following relate to Minnie’s financial statements for the year ended 30 April 20X6. Some customers took advantage of the cash settlement discount when they were not expected to. Trade receivables control account balance at 1 May 20X5 $101,477 Receipts from credit customers $93,457 Credit sales $57,133 Cash sales $14,086 Dishonoured cheques from credit customers $570 Contra with the trade payables ledger $9,040 Cash settlement discounts taken by customers $1,033 What should the balance on the trade receivables control account be at 30 April 20X6? A. $54,510 B. $56,576 C. $55,650 D. $73,730
WalCo TarMart CostGet Beginning Accounts Receivable $ 1,745 5,816 559 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Required 1 Required 2 WalCo TarMart CostGet Complete this question by entering your answers in the tabs below. WalCo TarMart Ending Accounts Receivable $ 2,692 6,344 - 595 Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. Note: Rounded to one decimal place. Enter your dollar answers in millions. Net Sales $ 315,427- 60,878 61,963 Choose Numerator Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator < Prev 8 of 8 = Receivables turnover ratio times times times + = Average collection period Next days days
how to record this transaction, I tried to credit Credit Card Expense 12400, but it was wrong