(m) Correction of errors. _____________ (n) Purchase of by cheque. ______________ Question Three: (6 Marks) A. Yousif Account 2014 $ 2014 $ Oct. 1 Sales 250 Oct. 15 Bank 200 Oct. 10 Sales 320 Oct. 30 Cash 400 Oct. 25 Sales 180 Required: Balance off A. Yousif account at the end of the month . Redraft A. Yousif account in Three Column Ledger style account. – Question Four (20 You are required to open the books of F. Bader, a trader, via the journal to record the assets and liabilities; then to record the following transactions for the month of May 2014; and Post to Bank Account Only. May, 2014 1 Premises $30,000; Van $5,000; Fixtures $800; Assets: Inventory $6,000; accounts Receivable: B. Muhsen $140; F. Lamia $300; Cash at Bank $6240; Cash in hand $560. Liabilities: Accounts Payable; S. Hani $215; J. Barhoum $640. 2 Paid rent by cheque $400. 3 Goods bought on credit from: S. Hani $145; D. Mabrouk $206. 4 Goods sold on credit to: J. Walid $112; T. Kamal $164. 5 Paid for motor expenses in cash $60. 7 Cash drawings by proprietor $150 for personnel use. 11 Goods returned to us by: J. Walid $32; F. Sami $48. 12 Withdrew $100 from the bank and paid into Cash. 14 Bought another van on credit from Abed Motors Ltd. $5,000. 16 J Walid paid us his account by cheque less 5% cash discount. 19 Goods returned to S. Hani $6; Mabrouk $56. 20 Paid $200 from Cash into Bank.
(m) Correction of errors. _____________ (n) Purchase of by cheque. ______________ Question Three: (6 Marks) A. Yousif Account 2014 $ 2014 $ Oct. 1 Sales 250 Oct. 15 Bank 200 Oct. 10 Sales 320 Oct. 30 Cash 400 Oct. 25 Sales 180 Required: Balance off A. Yousif account at the end of the month . Redraft A. Yousif account in Three – Column Ledger style account. Question Four (20 You are required to open the books of F. Bader, a trader, via the journal to record the assets and liabilities; then to record the following transactions for the month of May 2014; and Post to Bank Account Only. May, 2014 1 Assets: Premises $30,000; Van $5,000; Fixtures $800; Inventory $6,000; accounts Receivable: B. Muhsen $140; F. Lamia $300; Cash at Bank $6240; Cash in hand $560. Liabilities: Accounts Payable; S. Hani $215; J. Barhoum $640. 2 Paid rent by cheque $400. 3 Goods bought on credit from: S. Hani $145; D. Mabrouk $206. 4 Goods sold on credit to: J. Walid $112; T. Kamal $164. 5 Paid for motor expenses in cash $60. 7 Cash drawings by proprietor $150 for personnel use. 11 Goods returned to us by: J. Walid $32; F. Sami $48. 12 Withdrew $100 from the bank and paid into Cash. 14 Bought another van on credit from Abed Motors Ltd. $5,000. 16 J Walid paid us his account by cheque less 5% cash discount. 19 Goods returned to S. Hani $6; Mabrouk $56. 20 Paid $200 from Cash into Bank.
API-2015-Final-Exam1.docx