ASSIGNMENT 1
“Book-Keeping is to Accounting, as Nursing is to
Medicine”. Discuss
To
whom: ND1 Accountancy and ND1 Business Admin
OR
“Book-Keeping is to Accounting, as ICT is to
Computing”. Discuss
To
whom: ND1 Computer Science and ND2 OTM
ASSIGNMENT 2
1. Efura started a photographic business under the
business name Efura Special Photos in August, 2018. The following transactions
relate to the first month of operation.
2018:
August 1 Paid
N200,000 into bank.
August 5 Withdrew
cash N90,000 from bank.
August 7 Bought
two brand new cameras for N30,000 cash.
August 9 Paid
cash for supplies N45,000
August 11 Purchased
office equipment with cheque N25,000.
August
13 Received cash for work done
N56,000.
August 15 Bought
supplies with cash N10,000
August 18 Paid
cash for repair of equipment N15,000.
August 21 Withdrew
cash for personal use N12,000.
August 23 Paid
telephone bills for the month N6,600 by cheque.
August 25 Delivered
100 pieces of pictures at N200 on credit to customers.
August 27 Received
N18,000 cash from customers.
August 28 Bought
supplies with cash N5,000.
You are required to prepare the two-column cash book
for Efura for the month of August, 2018.
2. (a)
What do you understand by Accounts Balancing?
(b)
You are required to prepare two column cashbook for June 2018.
June 1 Mr. Famous started business with #250,000
cash.
June 4 Paid #235
cash for insurance.
June 6 The proprietor put a further #130,000 into
the bank.
June 7 Bought motor van
#100,000 paying by cheque.
June 11 Sold goods #650
on credit to David
June 12 Cash drawing
#3,500.
June 13 Purchase goods
#1,500 on credit from Totland.
June 15 Put cash
#75,000 into bank.
June 17 Received loan
#120,000 cash from Queen Aaliyat.
June 20 Withdrew
#17,500 cash from the bank for office use.
June 23 Goods worth
#300 were returned to a supplier-Totland.
June 25 Cash sales
#7,500 .
June 26 Cash purchases
# 4,750.
June 27 Goods worth #150
were returned to us by David.
June 30 Purchased fixtures and fittings #5,750 by
cheque
LCP! FIRST AND THE BEST!
BEST OF LUCK!
