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Question 3 Enter up the three column cashbook from the following transactions, balanced off and post...

Question 3

Enter up the three column cashbook from the following transactions, balanced off and post the relevant entries in the relevant ledgers.

1. Balances brought forward: cash N$ 230; bank N$ 4756

2. Following paid their accounts by cheque, in each case deducting 5percent cash discounts Harases N$140;N Iyambo N$220 ;B Visagie N$300

3. Paid rent by cheque N$120

6. S Mouton lent us N$1000 paying by cheque.

8.We paid the following accounts by cheque in each case deducting a 2^1/2 percent cash discount E Kapiye N$360;B Magongo N$480;N Nels N$800.

10. Paid motor expenses in cash N$44

12. Z Isaaks pays her account of N$77 by cheque N$74, deducting N$3 cash discount.

15. Paid wages in cash N$160

18.The following paid their accounts by cheque in each case deducting 5 percent cash discount M Swartbooi N$260;P Thanises N$340;L Hamukwaya N$460

21 Cash withdrawn from bank N$350 for business use

24. Cash drawings N$120

25. Paid H Hamukwaya her account of N$140, by cash N$133 having deducted N$7 cash discount

29. Bought fixtures paying by cheque N$650

31 Received commission by cheque N$88

Expert Solution

Dr.(Receipts) Triple Column Cash Book Cr.(Payments)
Date	Description	LF	Discount	Cash	Bank	Date	Description	LF	Discount	Cash	Bank
1	Balances b/d			$230	$4,756
2	Harases A/c		$7 ($140 - $133)		$133 ($140*95%)	3	Rent A/c				$120
2	Lyambo A/c		$11 ($220-$209)		$209 ($220*95%)	8	Kapiye A/c		$9 ($360 - $351		$351 ($360*97.5%)
2	Visagie A/c		$15 ($300 - $285)		$285 ($300*5%)	8	Magongo A/c		$12 ($480 - $468)		$468 ($480*97.5%)
6	S Mounton (Loan)A/c				$1,000	8	Nels A/c		$20 ($800 - $780)		$780 ($800*97.5%)
12	Z Isaaks À/c		$3		$74	10	Motor Expenses A/c			$44
18	Swatbooi A/c		$13 ($260 - $247)		$247 ($260*95%)	15	Wages A/c			$150
18	Thanises A/c		$17 ($340 - $323)		$323 ($340*95%)	21	Cash A/c	C			$350
18	Hamukvaya A/c		$23 ($460 - $437)		$437 ($460*95%)	24	Drawings			$120
21	Bank A/c	C		$350		29	Fixtures A/c				$650
25	Hamukvaya A/c		$7	$133
31	Commission A/c				$88	31	Balance C/d		$55	$399	$4,833

	Total		$96	$713	$7,552		Total		$96	$713	$7,552

ekkarill92 answered 2 years ago

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