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12 marksBooks of Original Entry and Discounts

CSEC Principles of Accounts · January 2010 · Paper 2 · Question 2(a)(i)

A sole trader, Clouden, had various transactions in May 2009 involving cash, bank, payments, receipts, discounts, drawings, and insurance settlements.

Write up and balance Clouden's three-column cash book.

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Other parts of this question

  1. 2(a)(ii)Indicate what the closing balance on the Bank Account signifies.[1 mark]
  2. 2(b)(i)Record the invoices received by Mr. Clouden in the appropriate Day Book showing correct net amounts owed.[6 marks]
  3. 2(b)(ii)If Mr. Clouden pays L. J. Enterprises within the month, what would be the amount of his cash discount?[1 mark]

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