Saturday, February 22, 2020

ASSIGNMENT ON ACC 111-PRINCIPLES OF ACCOUNTING 1 FOR BOTH FULL TIME AND PART TIME

                         PATRIOT ODUNARO BABATUNDE JIMOH (08038454008)
                               "IN ALL YOUR GETTING GET WISDOM". 
NOTICE: STUDENTS DON`T COPY YOURSELVES, JUST BE YOURSELF. IT IS WELL WITH OUR SOUL ALLAHUMO KUNFAYAKUN AMIN.
TO WHOM:
* ND ACCOUNTANCY DEPARTMENT (FULL TIME AND PART TIME)
* ND BUSINESS ADMINISTRATION (FULL TIME AND PART TIME)
 
(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
 
GOOD LUCK!

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