Questions on 1,2,3 Column Cash Book

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Welcome back! I believe you have read extensively and also watched one of my videos on the Cash Book Accounting? if yes, then proceed to answer the questions below but if you have not, follow this link to achieve that.

There are three questions on the Cash Book Accounting in this post for you. These questions were extracted from Yabatech’s past questions.

Cash Book Accounting – Question 1

Blessing Enterprises, a Sole trader, started a business with N8,000 in the bank and N2,000 cash on February 1, 2008, other transactions in the business are shown below.

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Record the transaction in the two-column cash book and balance the accounts.

Feb. 3           Withdrew cash from bank N5,000 for the business use

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Feb. 6           Purchase goods N3,500

Feb. 10         Cash sales N4000

Feb 15          Received cash from S. Gbenga N1000

Feb. 18         Received cheque for N2,000 from B. Adeola

Feb 20          cash paid into bank N3,000

Feb 23.         Paid T. Abioudun cheque for N1,500

Feb 25          Cash purchase N800

Feb 27          Paid rent for N1,000 cheque

Feb 28          paid N500 for electricity bill by cash.

Cash Book Accounting – Question 2

Ibrahim Attah Account shows the following for the month of May 2000

May 1            Balance in the bank from last month – 900

May 4            Cash sales to date – 800

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May 8            Bought goods for cash – 500

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May 10          Bought office table for cash – 200

May 15          Paid insurance premium in cash – 100

May 20          E. Folake paid cash – 200

May 22          Cash sales – 600

May 25          Cash purchase – 420

May 27          Paid wages – 250

May 29          Paid traveling expenses – 80

May 30          Withdraw cash for personal uses – 50

Record the above transactions in the cash book and balance the account.

Cash Book Accounting – Question 3

Abubakar Aliyu started business Jan. 1, 20-8 with N12,000 cash paid into the bank.

The following transactions were made during the month

Jan 2             Withdrew N3,000 cash from the bank for business use

Jan 5             Cash purchase of goods N2,500

Jan 7             Receive cheque from the following debtors less 5% cash discount

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Jan 10          Paid the following creditors cheque and received a 10% cash discount: H Eigbe N4,000, Barossa N2,500

Jan 15          Cash sales N6,000

Jan 20          Paid cash into the bank N3,000

Jan 25          Bought fixture & fittings by cheque N4,000

Jan 27          Paid salaries with cheque N3,600

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Record the above transactions in its relevant cash book and balance the account.