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Required: You expected to prepare a cash book

Required: You expected to prepare a cash book

FINANCIAL ACCOUNTING
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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INFINIX Al CAMERA February Bought electricai wires worth the sum ofN500.000.00 from Edison Manufectrrers with cheque February Bought some electrical materials in cash at N300,000:00 February Sold electrical wires to Tunde Retailers in cash at N120,000:00 5 February Sold electrical wires on credit to Tunde Retailers Itd for N234,000:00. February Bought bevereges on credit from Cadbury Nig. Pic at the sum of N120,000:00 and reccive 20% discount. trade 17 February Cash sales paid directlý into the bank is N220,000:00 February Sold electrical bulbs on credit to Mr. Biges for N50.000:00 and allowed 10% trade discount on this amount. February Bought electrical wires on credit from Light Switch Ltd at the sum of N23,000:00. February Sent Tunde Retailers Ltd a credit note for goods returned that had a retail price of N25,000:00. 9 February Cadbury Nig. Plc'sent a credit note of N15,000:00 in respect of goods returned. 10 February Bought goods by cheque N300,000:00 February Sold electrical wires to Acorn oil on credit for the sum of N120,000:00 and allowed 10% trade 12 on this amount. discount 14 February Bought goods and issued cheque of N200,000:00 14 February Receive Cash for goods bought by Tunde Retailers N200,000:00 15 February Sold electrical materials on credit to NOUN water Project for N45,000:00 15 Febrüary Sent Acorn Oil a credit note for goods returned at retail price of N10,000:00. 15 February Bought electrical wires from Wholesale Point at N87,000:00 on credit. 17 February Bought motor on credit from Edosa motors atd for N800,000:00. 18 February Light Switch Ltd sent a credit note of N5,000:00 for goods returned to them. February Received cheque from NOUN Water Project of N45,000 for electrical material bought. February Bought electrical materials on credit from Prudence Market for N378,000:00 and receive a 24 discount 24 of 5%. 27 February Issued cheque to Prudence Market of the sum of N340,000:00 for goöds bought. February Bought electrical wires from Cable Light Ltd for the sum of N217,000:00 on credit 28 February Salaries paid in cash N120,000:00 Required: You expected to prepare a eash book
Transcribed Image Text:INFINIX Al CAMERA February Bought electricai wires worth the sum ofN500.000.00 from Edison Manufectrrers with cheque February Bought some electrical materials in cash at N300,000:00 February Sold electrical wires to Tunde Retailers in cash at N120,000:00 5 February Sold electrical wires on credit to Tunde Retailers Itd for N234,000:00. February Bought bevereges on credit from Cadbury Nig. Pic at the sum of N120,000:00 and reccive 20% discount. trade 17 February Cash sales paid directlý into the bank is N220,000:00 February Sold electrical bulbs on credit to Mr. Biges for N50.000:00 and allowed 10% trade discount on this amount. February Bought electrical wires on credit from Light Switch Ltd at the sum of N23,000:00. February Sent Tunde Retailers Ltd a credit note for goods returned that had a retail price of N25,000:00. 9 February Cadbury Nig. Plc'sent a credit note of N15,000:00 in respect of goods returned. 10 February Bought goods by cheque N300,000:00 February Sold electrical wires to Acorn oil on credit for the sum of N120,000:00 and allowed 10% trade 12 on this amount. discount 14 February Bought goods and issued cheque of N200,000:00 14 February Receive Cash for goods bought by Tunde Retailers N200,000:00 15 February Sold electrical materials on credit to NOUN water Project for N45,000:00 15 Febrüary Sent Acorn Oil a credit note for goods returned at retail price of N10,000:00. 15 February Bought electrical wires from Wholesale Point at N87,000:00 on credit. 17 February Bought motor on credit from Edosa motors atd for N800,000:00. 18 February Light Switch Ltd sent a credit note of N5,000:00 for goods returned to them. February Received cheque from NOUN Water Project of N45,000 for electrical material bought. February Bought electrical materials on credit from Prudence Market for N378,000:00 and receive a 24 discount 24 of 5%. 27 February Issued cheque to Prudence Market of the sum of N340,000:00 for goöds bought. February Bought electrical wires from Cable Light Ltd for the sum of N217,000:00 on credit 28 February Salaries paid in cash N120,000:00 Required: You expected to prepare a eash book
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