Page 108 - Book-keeping for Secondary Schools Student’s Book Form One

Book-Keeping for Secondary Schools

Example 5.5

You are given the following transactions of Jamal for the month of January 2020. Record
the transaction in the general journal and post the entries to respective accounts. In your
answer clearly show the balance at the end of the month and the opening balance for
the month of February 2020.
FOR ONLINE READING ONLY

1 Started business by depositing TZS 13,500,000 cash in the bank account.

2 Bought a business building from D. Kamara for TZS 7,500,000, paying TZS
5,000,000 by cheque and promising to pay the balance the following month.

4 Purchased office furniture worth TZS 250,000 by cheque.

5 Purchased goods on credit from Madina TZS 500,000.
8 Jamal added capital in the business by cheque TZS 600,000.

10 Sold goods worth TZS 120,000 to Mahinda on credit.

11 Purchased goods from ABC LTD worth TZS 240,000 on credit.

12 Sold goods worth TZS 130,000 in cash.

14 Returned goods to Madina worth TZS 150,000 because they were faulty.
15 Mahinda returned goods worth TZS 10,000.

18 Paid Madina TZS 350,000 by cheque.

20 Received cash from Mahinda TZS 80,000.

24 Paid wages in cash TZS 50,000.

26 Jamal drew TZS 200,000 from the business account for private use.
28 Received rent in cash TZS 50,000.

31 Paid ABC LTD TZS 210,000 by cheque.

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Student’s Book Form One

Book Keeping Form 1 New 2024 FINAL.indd 100 18/10/2024 10:14