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CASHBOOK

The document outlines financial transactions for a bookshop in December 2023, including cash and cheque payments and receipts. It also includes a request to prepare a cash book and an income statement and balance sheet based on a provided trial balance as of December 31, 2023. The transactions detail various income and expenses, culminating in a need for financial reporting.

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29 views2 pages

CASHBOOK

The document outlines financial transactions for a bookshop in December 2023, including cash and cheque payments and receipts. It also includes a request to prepare a cash book and an income statement and balance sheet based on a provided trial balance as of December 31, 2023. The transactions detail various income and expenses, culminating in a need for financial reporting.

Uploaded by

pchingwaru544
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Practice questions -CASHBOOK

The following information pertains transactions for a bookshop for the month of
December 2023.
Dec 1 Balance brought forward from last month; Cash $295; Bank $4 240
2 Cash sales $310
3 Took $200 out of the cash till and paid it into the bank.
4 F Bell paid us by cheque $194.
5 We paid for postage stamps in cash $80.
6 Bought office equipment by cheque $310
7 We paid L Root by cheque $94.
9 Received business rates refund by cheque $115.
11 Withdrew $150 from the bank for business use.
12 Paid wages in cash $400.
13 Cash sales.
14 Paid motor expenses by cheque $81.
16 J Bull lent us $1 500 in cash.
20 K Brown paid us by cheque $174.
28 We paid general expenses in cash $35.
31 Paid insurances by cheque $320
REQUIRED
Write up a two column cash book from the above transactions and balance it off.(20
marks)
QUESTION 2
The following Trial balance was extracted from Soko on 31 DEC 2023.Prepare his
Income statement for the year ended 31 Dec 2023 and a Balance sheet as at that
date.
$ $
Sales 210 420
Purchases 108 680
inventory 9 410
Carriage outwards 1 115
Carriage inwards 840
Returns inwards 4 900
Returns outwards 3 720
Salaries and wages 41 800
Motor expenses 912
Rent 6 800
Sundry expenses 318
Motor vehicles 14 400
Fixtures and fittings 912
Accounts receivable 23 200
Accounts payable 14 100
Cash at bank 4 100
Cash in hand 240
Drawings 29 440
Capital 18 827
247 067 247 067

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