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(Solution) Exercise 3

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10 views1 page

(Solution) Exercise 3

Uploaded by

ReneeLim
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Exercise 3:

The balance in bank and cash account brought down from December 2018 is RM5,000 and RM3,000 respectively.
During January 2019, the following transactions took place in a business:

3 The business paid Ben a cheque, RM5,000 after receiving a discount of RM200.
6 The business paid RM1,000 cash for rental of the business premises.
7 Catherine paid a cheque, RM1,000 to business after a discount of RM20.
8 The business paid Dennis a RM1,020 cheque in full settlement for RM1,100.
10 The business purchased office furniture worth RM2,000, paid by cheque.
13 Eason sent a cheque, RM4,850 in full settlement for his debt of RM5,000 to the business.
14 Credit sales to Ivy, RM3,000. SJ
15 The business paid RM300 cash for office supplies.
20 Cash sales amounted to RM6,000 was received.
26 Ivy paid the amount due, by cheque after getting a discount of 10%.

Dr Cr
Cash Book
Date Particulars Discount Allowed (RM) Cash (RM) Bank (RM) Date Particulars Discount Received (RM) Cash (RM) Bank (RM)
2019 2019
Jan 1 Balance b/d 3,000 5,000 Jan 3 Ben 200 5,000 `
7 Catherine 20 1,000 6 Rental 1,000
13 Eason 150 4,850 8 Dennis 80 1,020
20 Sales 6,000 10 Office furniture 2,000
26 Ivy 300 2,700 15 Office supplies 300
31 Balance c/d 7,700 5,530
470 9,000 13,550 280 9,000 13,550
Feb 1 Balance b/d 7,700 5,530

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