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Given the transactions below we are to prepare ... - SS1 Accounting Preparation of Subsidiary Books Question

Given the transactions below, we are to prepare subsidiary books for Florence Ltd. Advertising company period of March 31. 2023. Properly record each transaction in their respective subsidiary book.

March 2. 2023

  • Purchased branded gift items worth ₦6,000 on credit from Akin Suppliers.

  • Received ₦15,000 from Musa Ventures through a bank transfer.

  • Made a credit sale of stationery items worth ₦9,000 to Hassan Enterprises.

March 17. 2023

  • John Bamidele returned goods worth ₦500 to due to the wrong size of shoes received.

  • Purchased branded gift items worth ₦3,000 on credit from Funmi Stores.

  • Purchased stationery items worth ₦4,000 on credit from Tunde Ventures.

  • Returned branded gift items worth ₦2,000 to XYZ Ltd. due to incorrect branding.

  • Received returned stationery items worth ₦7,000 from Jessica of Top Solutions due to incorrect quantity.

March 20. 2023

  • Returned stationery items worth ₦3,000 to ABC Suppliers due to incorrect quantity.

  • Received returned stationery items worth ₦7,000 from Jessica of Top Solutions due to incorrect quantity.

  • Made a cash sale of branded gift items worth ₦8,000 to Emma's Boutique

March 28. 2023

  • Deposited ₦5000 into its bank account.

  • Purchased shoes on credit from Crown supplier for ₦3000.

  • Made a credit sale of branded gift items worth ₦12,000 to Musa Ventures.

March 31. 2023

  • Chioma of Bright Enterprises returned some branded gift items worth ₦5,000 to Florence Ltd. due to incorrect branding.

  • Paid ₦10,000 to Tunde Ventures through a bank transfer

  • Deposited ₦50,000 into its bank account.

 

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Sales Day Book 

For the month of March 2023

Date

Particulars 

Amount (₦)

02/03/2023

Hassan Enterprises

9000

20/03/2023

Emma's Boutique

8000

28/03/2023

Musa Ventures

12000

 

Total sales for the month credited to the sales account

29000

Purchases Day Book 

For the month of March 2023

Date

Particulars 

Amount (₦)

02/03/2023

Akin Suppliers

6000

17/03/2023

Funmi Stores

3000

17/03/2023

Tunde Ventures

4000

 

Total purchases for the monthly debit to purchases account 

13000

Return Outwards Book 

For the month of March 2023

Date

Particulars 

Amount (₦)

08/01/2023

XYZ Ltd.

2000

25/01/2023

ABC supplier

3000

 

Total return inwards for the month transfer to return inwards account

5000

Return Inwards Book 

For the month of March 2023

Date

Particulars 

Amount (₦)

20/01/2023

Jessica of Top Solutions

7000

31/01/2023

Chioma of Bright Enterprises

5000

 

Total return inwards for the month transfer to return inwards account

12000

Bank Book 

For the month of March 2023

Date 

Particulars 

Debit 

Credit 

02/01/2023

Musa Ventures

 

15000

20/01/2023

Tunde Ventures

10000

 

31/01/2023

Bank 

50000

 
 

Total bank payments for the month transferred to the bank book account

 

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