- 20 Marks
FA – Mar/July 2020 – L1 – SB – Q3 – Recording Financial Transactions
Preparing a three-column cash book for Williams based on given financial transactions.
Question
Williams is a petty trader in Idumota market in Lagos. His transactions are carried out both on cash and through the bank. Daily cash payments are made from cash sales, and any surplus cash thereafter is paid into the bank either on the same day or days after.
The following transactions were extracted from the books of Williams during the period under review:
Required:
Prepare a three-column cash book to record the above transactions.
Find Related Questions by Tags, levels, etc.
Report an error