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QUESTION
Mr J. Walker, a trader in Lusaka’s Kamwala area, has not been
keeping books of accounts till now when he has hired you to be his
book keeper. The following are the opening balances on May 1, and
the transactions for the operations of the month:
May 2019
1 Assets: Premises K34,000; Van K5,125; Fixtures K810; Inventory
K6,390; Accounts receivable: P. Mullen K140, F. Lane K310; Cash at
bank K6,240; Cash in hand K560.
Liabilities: Accounts payable: S. Hood...
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Page 1 of 2
SCHOOL OF BUSINESS, ECONOMICS AND MANAGEMENT
AFIN 102- FINANCIAL ACCOUNTING
ASSIGNMENT 01
Due Date: 25th September, 2020
Instructions: The worksheets showing all account entries is to be
uploaded in PDF format only. Use the solutions on the worksheet to
answer the questions in the accompanying quiz-setup.
QUESTION
Mr J. Walker, a trader in Lusaka’s Kamwala area, has not been
keeping books of accounts till now when he has hired you to be his
book keeper. The...
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anyone can help ?
question 1
6.2 Enter the following transactions of an antiques shop in the accounts and extract a trial balance as at 31 March 2017 2017 1 Started in business with £8,000 in the bank. March 2 Bought goods on time from: L. Frank f550; G. Byers f540; P. Lee £610. 5 Cash sales (510. 6 Paid wages in cash £110. 7 Sold goods on time to: J. Snow £295; K. Park £360; B. Tyler £640. 9...
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3.2A Complete the following table: Account to Account to be debited be credited (a) Goods bought on credit from T. Morgan (6) Goods returned to us by J. Thomas. () Machinery returned to L Jones Ltd. (d) Goods bought for cash. (e) Van bought on credit from D. Davies Ltd. U Goods returned by us to I. Prince O) D. Picton paid us his account by cheque. w Goods bought by cheque. U) We paid creditor, 8. Henry, by cheque....
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retaile Record the following transactions for the month of January of a small finishing ance-off all the accounts, and then extract a trial balance as at 31 January 2016. 2016 Jan bal 1 Started in business with £10,500 cash. 2 Put E9,000 of the cash into a bank account 3 Bought goods for cash £550. 4 Bought goods on time from: T. Dry £800; F. Hood £930; M. Smith £160; G. Low £510. 5 Bought stationery on time from Buttons...
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Updated question.
Question 3 The following are the transactions of A. Sutherland for the month of January 2007: Type of Transaction Jan. 01 02 cash receipt credit purchase credit sale 03 04 cash payment credit sale credit purchase A. Sutherland paid R5 000 into a business bank account. Purchased goods for resale from W Co. Ltd. on credit, R900. Sold goods on credit to Arthur for R1 000 Purchased goods for resale and paid by cheque no. 901, R480. Sold...
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how to solve that question?
thank you.
4.4A Write up the following transactions in the T-accounts of F. Fernandes Started in business with £11.000 in the bank and £1,600 cash. 2 Bought goods on time: J. Biggs £830; D. Martin £610; P. Lot 1590 3 Bought goods for cash £370. 4 Paid rent in cash £75. 5 Bought stationery paying by cheque £62. 6 Sold goods on time: D. Twigg £370; B. Hogan £290; K. Fletcher £410. 7 Paid wages...
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anyone please help.
ACC2201 FINANCIAL ACCOUNTING I T2 The Accounting Equation (Part 3: Balance-off accounts) 4.3A Prepare the double entries (not the T-accounts) for the following transactions using the format Date July Account name Account name Started in business with £5,000 in the bank and £1,000 cash. 2 Bought stationery by cheque £75. 3 Bought goods on time from T. Smart £2,100. 4 Sold goods for cash £340. 5 Paid insurance by cash f290. 7 Bought a computer on time...
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Enter the following transactions for Rojo in ledger accounts,
and then balance off the accounts and transfer the balances into a
trial balance.
Date Transactions
Jan 1 Started business putting £5,000 into the bank and £500
into petty cash
Jan 2 Bought inventory on credit from C. Higgins, £250; F.
Gulmohammed, £450; S. O’ Hare, £650, J. Ballantine, £850
Jan 3 Returned goods to J. Ballantine, £80 and F. Gulmohammed,
£40
Jan 4 Sold inventory on credit to: C. Doogan,...
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Enter the following transactions for Rojo in ledger accounts, and then balance off the accounts and transfer the balances into a trial balance.Date TransactionsJan 1 Started business putting £5,000 into the bank and £500 into petty cashJan 2 Bought inventory on credit from C. Higgins, £250; F. Gulmohammed, £450; S. O’ Hare, £650, J. Ballantine, £850Jan 3 Returned goods to J. Ballantine, £80 and F. Gulmohammed, £40Jan 4 Sold inventory on credit to: C. Doogan, £1,000; S. Totten, £800 and...