Page 104 - Book-keeping for Secondary Schools Student’s Book Form One

Book-Keeping for Secondary Schools

Trade payables 150,000
Being goods purchased on credit
28-Jan-20 Sales returns 5,000
Trade receivables 5,000

Being goods returned by a customer
FOR ONLINE READING ONLY
29-Jan-20 Cash 50,000
Rent income 50,000
Being rent received in cash
30-Jan-20 Bank 20,000
Trade receivables 20,000
Being a cheque received in respect of
receivables

The second stage is posting of entries to general ledgers.
Dr Bank account (1) Cr

Date Particulars Folio Amount Date Particulars Folio Amount
1/1/2020 Capital 2 2,000,000 16/1/2020 Cash 6 200,000
30/1/2020 Trade 8 20,000 23/1/2020 Trade 4 200,000
receivables payables
26/1/2020 Drawings 11 100,000

Dr Capital account (2) Cr
Date Particulars Folio Amount Date Particulars Folio Amount
1/1/2020 Bank 1 2,000,000

Dr Machinery account (3) Cr

Date Particulars Folio Amount Date Particulars Folio Amount
4/1/2020 Other 4 200,000
payables
Dr Trade payables account (4) Cr

Date Particulars Folio Amount Date Particulars Folio Amount
22/1/2020 Purchases 9 15,000
returns
23/1/2020 Bank 1 200,000 8/1/2020 Purchases 5 400,000
27/1/2020 Purchases 5 150,000

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Student’s Book Form One

Book Keeping Form 1 New 2024 FINAL.indd 96 18/10/2024 10:14