Bukky started a photographic business under the business name Bukky 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 Bukky for the month of August, 2018.
ASSIGNMENT 4:
Mercy 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, 2018
BEST OF LUCK!
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