3.SL. Journalise the following transactions in the books of a trader:1984Rs: 1984Rs.Dec. 1 Started business withDec.22 Cash received fromcash50,000M. Rauf in full settlement7.600Dec. 3 Goods purchased for cash 30.000Dec. 3 Furniture purchasedfor cashof his accountDec.25 Cash paid to Zulfiqarand he allowed discount1,9005.000100Dec. 7 Sold goods for cash10.000 Dec.28 Cash paid for purchaseof stationery250Dec. 9 Sold goods to M. RaufDec. 12 Goods purchased from8.000Dec.31 Paid office rent800Zulfiqar5.000 Dec.31 Goods returned toDec. 16 Goods sold to Ali andZulfiqar500allowed him 10 ". tradeDec.31 Paid salaries to staff900discount6.000

Journal entries: journal entry is recorded for every business transaction. It is the first step in…

Answered: 3.SL. Journalise the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Chapter 8 The December cash records of Dickson Insurance Cash Receipts Cash Payments Date Cash Debit Check no. Cash Credit Dec, 4 Dec, 9 Dec, 14 Dec, 17 Dec, 31 $4,180 500 510 2,130 1,850 Beg. Balance + Deposits - Checks Dickson's Cash account shows a balance of $17,030 at Dec, 31. On Dec, 31 Dickson Insurance received the following bank statement: Dec, 1 Dec, 5 Dec, 10 Dec, 15 Dec, 18 Dec, 22 1416 1417 1418 1419 1420 1421 1422 End. Balance Dec, 8 Dec, 11(Check no. 1416) Dec, 19 Dec, 22 (Check no. 1417) Dec, 29 (Check no. 1418) Dec, 31 (Check no. 1419) Dec, 31 Bank Statement for December $850 130 630 1,190 1,490 1,100 650 Bank End. Balance Bank Reconciliation EFT BC Book End. Balance NSF EFT SC $600 4,180 500 510 2,130 1,400 $1,000 850 $400 130 630 1,910 $40 $13,900 Total 9,320 BC - Bank Collections, EFT – Electronic Fund Transfer, NSF- Nonsufficient funds checks, SC - Service Charge Total (4,960) - The EFT Deposit was a receipt of rent. The EFT check was an insurance payment. - The…
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15. SSS Company purchased goods worth P200,000 and got a trade discount of P4,000. The accountant should A. debit to Purchase discount for P4,000 and debit to Purchases for P196,000 B. debit to Purchase discount for P4,000 and debut to Accounts payable for P196,000 C. debit to Purchases for P200,000 D. debit to Purchases for P196,000
Q2. Prepare single columa cash book of Karim for the month Aprl 2000. April 1"cash in hand Rs 40000 April 4 cash sales Rs 5000. April 12 Purchases goods for cash Rs 8000. April 14 Received from Abbas & sons Rs S000. April 24 purchase stationary Rs 2000 April 26 Paid salaries 5000 April 29 paid rent Rs 6000. April 30 paid electric bill 2000.
Moving to another question will save Question 13 A. Cash payments journal A company entered into the following transactions. Match each transaction with the appropriate journal in which it should be record Purchased merchandise from Able Co. for $2,000 terms 2/10, n/30. Invoice dated August 1. B. Purchases journal - Paid cash to incite Telephone Co. for monthly telephone bill $250, Check No. 758. c. General Journal - Sold merchandise on credit to Delta Corp. for $3,000, terms, 2/10, n/30, Involce No. 246. Cost of Goods Sold is $1,740. D. Cash receipts journal Received cash payment in full from Delta Corp. for August 5 sale. E. Sales Journal -Recorded cash sales for the month, $9,000. Returned defective inventory purchased on account from Able Co. for $550.
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6. Indicatewhichjoumal would beusedto record the following transactions. Select from the followirng Cash Receipts Joumal Cash Disbursements Joumal, Sales Joumal Purchases Jourmal, and General Journal. a. Sold inventory for cash b.Sold inventory on account c Received cash a week after selling items on credit d Paid cash to purchase inventory e.Paid a cash dividend to shareholders £Sold sharesofstock for cash a. b. C. d. e. f. 2. Bought equipment forcash h Recorded anadjusting entry for supplies iPaid for a purchase of inventory on accontwithin the discount period i j Paid for a purchase ofinventory on account after the discount period haspassed, k. Bought inventory and agreed to paywithin the next 30 days 1 Receivedbut didnot pay the phone bill. Will pay in 20 days. m Retumed defective goods purchasedon credit to the supplier. The companyhadnotyet paid for them n. Jook out a loan fromthe bank o. Paid employeewages h. k. 1. 1. theconetinumalt
25-Mr. Said Al busaidi is a trader of Mobile business. Which of the following transactions will be recorded in his cash disbursement Journal? a. Bought mobiles worth RO 30,000 from Muscat Supplies LLC 2/10, n/30 b. Bought mobiles worth RO 18,000 from Nizwa Mobiles under the terms of 2/10 n/30 c. Received cash from Sohar Supplies LLC for RO 12,500 d. Cash paid to Muscat Mobiles LLC RO 12,500
2021-08-23 09:04 6. Name two types of consumer market 7. Explain the meaning of factor market. 8. Prepare Cash Receipts joureal of JJ Supermarket for the m Iransaction 4. Service fees received R300 as per cash register roll 5. The owner invested R20000 in the business 10. The bank statement received showed interest of R400 20. Discount received from Eiten farmers R20 30. Rent received from A.Mulaudzi R500

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