30 Bought stationery paying by cash RM56 Enter the above details in a three-column cash book for XYZ Company. Balance–off the cashbook at the end of the month and show the discount accounts in the general ledger.
30 Bought stationery paying by cash RM56
Enter the above details in a three-column cash book for XYZ
Company. Balance–off the cashbook at the end of the month and
show the discount accounts in the general ledger.
Question 3
(a) Describe the importance of bookkeeping.
(2 marks)
(b) Define cash book.
(2 marks)
(c) The following are the details of cash related transactions for XYZ Company:
[All creditors’ and debtors’ payment amount are in pre-discount form]
2012
June 1 Balances brought forward:
Cash RM420 ;
Bank RM4,940
2 The following paid us by cheque, in each case deducting a
5 % cash discount:
Sonia RM 820;
Loraine RM 320;
Gwen RM440;
Mc Rain RM1,040
3 Cash sales paid direct into the bank RM740
4 Paid rent by cash RM340
6 We paid the following accounts by cheque, in each case
deducting 2.5% cash discount :
Peter Sam RM360;
Al Graham RM960;
Ed Bell RM400
8 Withdrew cash from the bank for business use RM400
10 Cash sales RM1,260
12 Bonny paid us their account of RM280 by cheque less RM4
cash discount
14 Paid wages by cash RM540
16 We paid the following accounts by cheque:
Roy RM310 less cash discount RM15;
Alice RM412 less cash discount RM12
20 Bought fixtures by cheque RM4,320
24 Bought lorry paying by cheque RM14,300
29 Received RM324 cheque from Flora
30 Cash sales RM980
Required:
30 Bought stationery paying by cash RM56
Enter the above details in a three-column cash book for XYZ
Company. Balance–off the cashbook at the end of the month and
show the discount accounts in the general ledger.
(21 marks)
[Total : 25 Marks]
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