Application of The Rules With Ordinary Cash Book - SS1 Accounting Past Questions and Answers - page 1
What is the format of an ordinary cash book?
Single column
Two columns
Three columns
Four columns
What are the double-entry rules?
A method of recording financial transactions where every transaction affects at least one account
A method of recording financial transactions where every transaction affects at least two accounts
A method of recording financial transactions where every transaction affects at least three accounts
A method of recording financial transactions where every transaction affects at least four accounts
What is recorded in the folio column of the cash book?
The amount of money received
The amount of money paid out
The page number of the ledger account affected by the transaction
The date of the transaction
If a business owner receives ₦500 cash from a customer, what is the debit aspect of the entry in the cash book?
₦0
₦500
₦50
₦100
If a business owner pays ₦200 for rent, what is the credit aspect of the entry in the cash book?
₦0
₦200
₦50
₦100
The following cash transactions relate to Gina and Co. for the month of October 2022. Enter the information below into a single cash book.
₦
October 1: Balance cash in hand 30000
October 3: Paid rent for the month 15500
October 5: Cash purchases 7800
October 8: Paid internet bills 3200
October 12: Paid wages to sales assistant 6300
October 16: Received cash from credit customer, Ahmed Ventures 7500
October 18: Cash sales 12000
October 20: Paid for office supplies 4500
October 23: Paid cash to Jide O. for bought goods credit 2100
October 25: Paid transport expenses 4000
October 28: A credit customer, Amina H. paid cash 19500
October 30: Paid Peter K. on account of credit purchases 5500
Gina and Co. Cash Book
For the month of October 2022.
|
Debit (Dr) |
Credit (Cr) |
||||||
|
Date |
Particulars |
Folio |
Amount |
Date |
Particulars |
Folio |
Amount |
|
October 1 October 18 October 28 |
Balance Sales Amina H. |
b/d |
30000 12000 19500 |
October 3 October 5 October 8 October 12 October 20 October 23 October 25 October 30 |
Rent Purchases Internet bills Wages Office supplies Jide O. Transport Purchases |
15500 7800 3200 6300 4500 2100 4000 5500 |
|
|
October 31 |
Balance |
c/d |
12600 |
||||
|
61500 |
61500 |
||||||
|
November 1 |
Balance |
b/d |
12600 |