Back to Course

SS1: FINANCIAL ACCOUNTING - 1ST TERM

0% Complete
0/0 Steps
  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



  • Follow us

Lesson Progress
0% Complete

Illustration:

Enter the Transactions below in the books of Jonathan:

Feb 1:Bought goods on Credit from Lopez:     
20 Rulers @ N50 each
26 Big notes @ N70 to each
Less: \(\scriptsize 2 \frac{1}{2} \%\) or (2.5%) Trade discount.
Feb 14:Purchased goods on Credit from Olisa:       
25 Shoes @ N30 each
24 Shirts @ N20 each
Less 5% discount

Required:
(i) Prepare the Purchase Day book
(ii) Post the items to the ledger.

Solution:

Screenshot 2022 07 21 at 17.27.11
Screenshot 2022 07 21 at 17.27.20

Responses

Your email address will not be published. Required fields are marked *

error: