3 Column Cash Book Transaction, Financial Accounting

Assignment Help:
I have tried to answer this assignment with no luck.
Balance brought forward :
Cash in Hand : $5000
Cash at Bank : $ 90,000
March 2 Received Cash loan of $25 ,000 from Partners .
March 3Bought goods of $156,000
March 4Bought Motor Van paying by check $1,600
March 5 Cash Withdrawn from the bank $25,000
March 7 Paid Wages in Cash $16,000
March 8 Cash Drawings $10,000
March 10 Cash Sales paid directly into the bank $28,000
March 12 We paid the following Accounts by Check less 10% discount in each case:
Marshal : $2,000: Linda : $1,600
Theresa : $1,800
March 13 The following paid us thier Accounts by Check in each case deducting 2.5% Discount
Jerry : $980
Martins :$450
March 15 Received a futher Loan of $2,500
March 16 We paid Brandy his account of $400 by Check
March 18 Cash Sales $8,000
March 21 Paid Rent in Cash $1,800
March 23 Received Commission By Check $7,500
March 25 The following persons paid us thier Accounts by check in each Case Deducting 5% Discount :Uson $500 ; David : $4,599
March 26 We paid the following Accounts paid by check in each case deducting 2% Discount
Joseph : $2000 , Tiola : 1,200
March 28 Paid Insurance :$8,900 March29 Linda Paid Us a Check for $ 2,500 Having Deducted 200 for cash Discount.--------------------- -

Related Discussions:- 3 Column Cash Book Transaction

What is accounting, What is accounting? Accounting is concerned with an...

What is accounting? Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more

What do you mean by married taxpayers, Q. What do you mean by Married Taxpa...

Q. What do you mean by Married Taxpayers? Married Taxpayers - Taxpayers who are married may file a JOINT RETURN, thus combining their INCOME and expenses. Individuals would be

Quality discount and order quantity, The standard EOQ analysis is depends o...

The standard EOQ analysis is depends on the assumption which the price per unit keeps constant irrespective of the size of the order. While quantity discounts are obtainable, that

Foreing branches-branches, FOREING BRANCHES The head office my set up a b...

FOREING BRANCHES The head office my set up a branch in a foreign  country. IAS 21 requires that the results of that  foreign branch to be translated into the local currency for t

Calculate the initial selling price of the product, Question: (a) The f...

Question: (a) The following output levels and production costs have been recorded over the last three periods: Required: Using the high-low method, estimate the: (i

Illustration of accounting treatment of deferred tax, Illustration of Accou...

Illustration of Accounting treatment of deferred tax A Ltd., bought an item of plant at a cost of £100,000 in year 2000. The estimated useful life of the plant was 5 years and

Quantitative performance measure, The managerial performance measure must b...

The managerial performance measure must be quantitative and the manner in which it is to be calculated should be specified. The managerial performance measure must ideally be linke

Calculate the gross profit margin and net profit margin, Assets            ...

Assets                                                       2011                                                                        2010 Non Current Assets

What net carrying amount, On June 30, 2011, Omara Co. had outstanding 8%, $...

On June 30, 2011, Omara Co. had outstanding 8%, $3,000,000 face amount, 15-year bonds maturing on June 30, 2021. Interest is payable on June 30 and December 31. The unamortized bal

After all events have been recorded, After all events have been recorded, L...

After all events have been recorded, Lang's obligations to creditors represents what percent of total assets? a).record the events under an accounting equation b. After all e

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd