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SS1: FINANCIAL ACCOUNTING - 1ST TERM

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  1. Introduction to Booking Keeping and Accounting | Week 1
    9 Topics
    |
    1 Quiz
  2. Introduction to Books of Account | Week 2
    5 Topics
    |
    1 Quiz
  3. Subsidiary Books of Account I | Week 3
    4 Topics
    |
    1 Quiz
  4. Subsidiary Books of Account II | Week 4
    4 Topics
    |
    1 Quiz
  5. Principles of Double Entry Book Keeping | Week 5
    1 Topic
    |
    1 Quiz
  6. Cash Book | Week 6
    6 Topics
    |
    1 Quiz
  7. Petty Cash Book | Week 7
    1 Topic
    |
    1 Quiz



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Illustration:

May 10:Johnson Ltd returned:
3 Dozen of Sandals @ N15
4 Clocks @ N100 each
Trade discount 25%
May 15:Abraham Ltd returned:
8 Radio Sets @ N90 each
5 Television Sets @ N100
Trade discount 10%

Required:
(i) Prepare Return Inward Day Book
(ii) Post the items to the ledger

Solution:

Screenshot 2022 07 21 at 14.03.41
Screenshot 2022 07 21 at 14.03.58

Evaluation Questions:

1. Explain the term Sales Day Book
2. Prepare Sales Day Book
3. Explain Return Inward Day Book
4. Prepare Return Inward Day Book

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