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SS1: FINANCIAL ACCOUNTING - 1ST TERM

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  1. Introduction to BookKeeping and Accounting
    11 Topics
    |
    1 Quiz
  2. Introduction to Books of Accounts
    6 Topics
    |
    1 Quiz
  3. Subsidiary Books of Account I
    4 Topics
    |
    1 Quiz
  4. Subsidiary Books of Account II
    4 Topics
    |
    1 Quiz
  5. Principles of Double Entry Bookkeeping
    2 Topics
    |
    1 Quiz
  6. Cash Book
    6 Topics
    |
    1 Quiz
  7. Petty Cash Book
    1 Topic
    |
    1 Quiz

Quizzes

  • excellence
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Topic Content:

  • Illustration – Sales Day Book

Illustration 3.2.1:

May 5:Sold goods to Johnson:       
10 Dozen of Sandals @ ₦15 a dozen
15 Clocks @ ₦100 each
Trade discount 25%
May 12:Sold goods to Abraham:       
18 Radio sets @ ₦90 each
20 Television sets @ ₦100 each
Trade discount 10%

Required:
(i) Prepare the sales day book
(ii) Post the items to the ledger

Solution:

 

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