Efura started a photographic business under the business name Efura Special Photos in
May, 2018. The following transactions relate to the
first month of operation.
2018:
May 1 Paid N200,000 into bank.
May 5 Withdrew cash N90,000 from bank.
May 7 Bought two brand new cameras for N30,000
cash.
May 9 Paid cash for supplies N45,000
May 11
Purchased office equipment with cheque N25,000.
May 13
Received cash for work done N56,000.
May 15 Bought
supplies with cash N10,000
May 18 Paid
cash for repair of equipment N15,000.
May 21
Withdrew cash for personal use N12,000.
May 23 Paid
telephone bills for the month N6,600 by cheque.
May 25
Delivered 100 pieces of pictures at N200 on credit to customers.
May 27
Received N76,000 cash from customers.
May 28 Bought
supplies with cash N5,000.
You are required to prepare the two-column cash book
for Efura for the month of May, 2018.
ASSIGNMENT 4
Ajimatanraeje Nigeria Limited is maintaining a petty cash
book with the following analysis
column:
postage, transport, general expenses, advertisement and fuel.
The cashier
is given a cash float of N50,000, reimbursement being made to cashier at the
end of
each week.
The
following transactions took place:
July 16,
2018 Postage stamps purchased N3,500.
July 16,
2018 Fare on delivery parcel N2,500.
July 17,
2018 Cost of registration letter N9,500.
July 18,
2018 Petrol for van N7,500.
July 19,
2018 Advertisement on local
Newspaper N10,000.
July 19,
2018 Paid creditor N10,000.
July 20,
2018 Paid for tea and milk for office
staff N5,500.
July 23,
2018 Petrol and oil for van N7,500.
July 23,
2018 Postage on parcel N2,500.
July 24,
2018 Traveller`s order book bought N4,000.
July 25,
2018 Paid creditor N10,000.
July 26,
2018 Transport fare to Ikoyi N5,000.
July 26,
2018 Paid officer cleaners N6,000.
July 27, 2018
Cash count N15,000.
From the
knowledge acquired through the study of petty cash book, you are required
to :
(a)
Prepare
petty cash book from the above information.
(b)
How
much is the reimbursement for:
i.
Third
week of July 2018.
ii.
Four
week of July 2018.
HINTS:
i. Third
week of July 2018 is from July 16, 2018 to July 22, 2018.
ii. Fourth week of July 2018 is from July 23, 2018
to July 29, 2018NOTICE: DO EACH ASSIGNMENT ON A SEPARATE SHEET OF PAPER.
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ACC 111-PRINCIPLES OF ACCOUNTING 1 COURSE OUTLINE:
Assignment 1 and 2 for Full-Time for general knowledge:
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Assignment 3 for Full-Time for general knowledge:
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