accounts S

Name : Ronesha Rosal
Subject : Principles of Accounts
Name of project : Study of accounting procedures of B+M
School : Corpus Christi College
School number : 160013
Candidate’s number : 160013
Teacher’s name : Ms. Valentine
Date submitted :

ACKNOWLEDGEMENTS
I would like to take this time to thank

Table of Contents

INTRODUCTION

AIMS

ACCOUNTING CYCLE
Source documents Subsidiary journals
Invoices Cash Book
Petty cash voucher Purchases journal
Credit note Sales journal
Debit note Returninwards journal
Cheques Returnoutwards journal
General journal

Question Sheet
Brian Martin began business as B + M ice-cream with capital-cash at bank $20,000 on May 1st 2013. All expenses below $40.00 were to be recorded in a petty cash book kept on the Imprest system and reimbursed at the end of every month, consisting of a float of $100.

1st Period
May 1st Drew cheque for business use $2000
May 2nd Reimbursed the petty cashier by cheque
May 5th Bought an ice-cream freezer from standard distributors $8000
May 7th Bought electronic pale for $6000 from Lucky Dollar Ltd
May 8th Bought mixed fruits from NAMDEVCO Ltd 1600 less 12 ½ % trade discount
May 10th Bought condensed milk from Nestle Limited $1000 less 10% trade discount
May 12th Bought sugar for cash $600
May 15th Bought paper cups 20
May 16th Bought ice-cream bowls 25
May 17th Sold ice-cream for cash $3600
May 19th Sold ice-cream to West Bees Supermarket
May 20th Sold ice-cream to True Value $2500
May 21st Took a loan by cheque from R.B.C $1100
May 22nd Bought stationary for the office $4
May 23rd Bought