Welcome back! I believe you have read extensively and also watched one of my videos on the Cash Book Accounting? if yes, then proceed to answer the questions below but if you have not, follow this link to achieve that.
There are three questions on the Cash Book Accounting in this post for you. These questions were extracted from Yabatech’s past questions.
Cash Book Accounting – Question 1
Blessing Enterprises, a Sole trader, started a business with N8,000 in the bank and N2,000 cash on February 1, 2008, other transactions in the business are shown below.
Record the transaction in the two-column cash book and balance the accounts.
Feb. 3 Withdrew cash from bank N5,000 for the business use
Feb. 6 Purchase goods N3,500
Feb. 10 Cash sales N4000
Feb 15 Received cash from S. Gbenga N1000
Feb. 18 Received cheque for N2,000 from B. Adeola
Feb 20 cash paid into bank N3,000
Feb 23. Paid T. Abioudun cheque for N1,500
Feb 25 Cash purchase N800
Feb 27 Paid rent for N1,000 cheque
Feb 28 paid N500 for electricity bill by cash.
Cash Book Accounting – Question 2
Ibrahim Attah Account shows the following for the month of May 2000
May 1 Balance in the bank from last month – 900
May 4 Cash sales to date – 800
May 8 Bought goods for cash – 500
May 10 Bought office table for cash – 200
May 15 Paid insurance premium in cash – 100
May 20 E. Folake paid cash – 200
May 22 Cash sales – 600
May 25 Cash purchase – 420
May 27 Paid wages – 250
May 29 Paid traveling expenses – 80
May 30 Withdraw cash for personal uses – 50
Record the above transactions in the cash book and balance the account.
Cash Book Accounting – Question 3
Abubakar Aliyu started business Jan. 1, 20-8 with N12,000 cash paid into the bank.
The following transactions were made during the month
Jan 2 Withdrew N3,000 cash from the bank for business use
Jan 5 Cash purchase of goods N2,500
Jan 7 Receive cheque from the following debtors less 5% cash discount
Jan 10 Paid the following creditors cheque and received a 10% cash discount: H Eigbe N4,000, Barossa N2,500
Jan 15 Cash sales N6,000
Jan 20 Paid cash into the bank N3,000
Jan 25 Bought fixture & fittings by cheque N4,000
Jan 27 Paid salaries with cheque N3,600
Record the above transactions in its relevant cash book and balance the account.