Quelpr
1 markBooks of Original Entry and Discounts

CSEC Principles of Accounts · January 2016 · Paper 2 · Question 3(a)(i)

Jose Choice Meats provides opening cash and bank balances along with May transactions.

State what type of discount was given on May 2.

This question uses a figure or table from the paper — you'll see it when you practise.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 3(a)(ii)Record the given transactions in the Cash Book and balance the Cash Book at month end.[14 marks]
  2. 3(a)(iii)Prepare and close the Discount Allowed Account using the given ledger format.[2 marks]
  3. 3(a)(iv)Explain the significance of the balance remaining in Mr Martinez's bank account at month end.[1 mark]
  4. 3(b)List and calculate the total value of Revenue Expenditure in the month of May for Mr Martinez.[2 marks]

More practice: the rest of this paper · more Books of Original Entry and Discounts questions · all CSEC Principles of Accounts past papers