ASSIGNMENT 1- CASH BOOKS
The following transactions were conducted by D. Denny for the month of June 2021.
June 1 Started in business with $12 000 in the bank and $4 500 cash.
$
2 Purchased goods for cash 950
4 Bought fixtures and fittings paying by cheque 3200
5 Sold goods for cash 1700
8 Bought stationery paying in cash 560
10 Received rent from sublet of corner space in cash 800
12. Bought goods on time from S. Bell 1300
13 Sold goods on time to A. coat 1 220
18 Deposited cash into the bank 500
20 The proprietor took cash for personal use 290
21 Paid S. Bell by bank transfer 1300
23 Paid motor expenses by cheque 720
25 Cash sales 500
26 Withdrew from the bank for office use 960
27 Cash purchases 430
28 Received a cheque from A. Coat 1220
30 Bank charges for the month 470
Required
(a) Write up D. Denny’s cash book for June 2021 [18] (b) Balance the cash book on 30
June 2021 and bring down the balances on 1 July 2021. [3] (c) Open the sales account
and the purchases account and post the total cash purchases and cash sales only. [4]