Finance and Accounting

[$xy $onz]

u dnt knw how much i hate doing questions lyk dat evryday its so long

[.Prizzle.]

LOL i can imagine!

[$xy $onz]

but it wil b ok once u get all ur figures u will b fine

[.Prizzle.]

yh i think once i get the jist of doign it all then i'll be aite!

[Kayz]

Nope....
The question is

From the following transactions of Rachel Roberts, write up a cash book showing cash and bank transactions and T accounts for all other transactions. Balance off the bank and cash accounts only, the extract a trial balance at 7 October.

1 OCT Start business by paying £9000 into the business bank account and also providing 3100 as an opening cash balance

1 OCT Bought goods for resale with a cheque for £4000 and paid 360 in cash for stationary

2 OCT Sold goods for £600 cheque and £280 cash

3 OCT Paid a cheque for £30 for advertising and a cheque for £45 for printing

4 OCT Paid rent by cheque, £100

5 OCT Sold goods for £700 cheque and £130 cash

6 OCT Paid wages £260 cash. Owner withdrew £400 from the bank for personal use

7 OCT A customer was given a refund by cheque £40 fr faulty goods returned to the business

************************************************** *******

what i didnt understand is that see drew up T accounts for things as small as advertising, printing, wages,

Ok basically you have to do two things here.. if im correct.. but im not sure.. but here is a jist of things...

A cash book for bank - cash/cheque
Then a T account - for all other transactions...

Ive forgotten what the cash book looks like but as the question says u deal cash and bank in the cash book.. so things like "Bought goods for resale with a cheque for £4000" will go in cash book as uve spent £4000 with a cheque which comes out the bank...

If i am correct all of the above cash and cheque will go in the cash book..... but im still woosey on this double check it dear..

[.Prizzle.]

Ok basically you have to do two things here.. if im correct.. but im not sure.. but here is a jist of things...

A cash book for bank - cash/cheque
Then a T account - for all other transactions...

Ive forgotten what the cash book looks like but as the question says u deal cash and bank in the cash book.. so things like "Bought goods for resale with a cheque for £4000" will go in cash book as uve spent £4000 with a cheque which comes out the bank...

If i am correct all of the above cash and cheque will go in the cash book..... but im still woosey on this double check it dear..

thanx for that kayz...
yea i'll double check it still

[asad_q]

with t accounts you only use them in your 1st year.......well we did
we all cracked them, looking foward to 2nd year! totally differrent!

[ThugNite]

fuk d long ting n remember dis
PEARL
PURCHASES EXPENSES ASSETS U DEBIT DEM ALL
REVENUE AND LIABILITIES U CREDIT DEM
IS ESY