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BOOKK EEPITG   67

 

  1. Loaned F. Dempster cash $400 on his note at 4 months, bearing interest at 6% per annum. Bought from F. Medland on a/c, Mdse. $650, as per Inv. dated May 11.

Paid our acceptance of the 10th ult. with cheque, $150.

  1. Drew a draft on R. Mathews at 10 days, in favour of F. Medland for $50.

15. Sold R. Mathews on his note at 2 months, payable at the Bank of Commerce, 5 bbls. Coal Oil, 40 gals ea. @ 12c. ; 20 sacks Oatmeal, 200# ea. @ 2lc.

  1. Paid F. Medland in full of account with cheque ; he allowed 3% off.

  2. Received from F. Sinclair on a/c, a sight draft on C. Ross for $100, dated May 16.

  3. Sold R. Mathews, 600# Salada Ceylon Tea @ 35c. ; received in part payment cash $50, balance on a/c.

Petty Cash sales for the week, $165.

  1. Bought from F. Medland, Mdse. $875 as per Inv. dated May 18 ; accepted his draft at 30 days in favour of W. Dixon, in payment.

  2. Sold C. Main 100 tubs Butter, 50# ea. @ 18c. ; received his note at 2 months, bearing interest at 6% per annum, in payment.

  3. Paid our acceptance of the 9th inst. $180, and interest 45c., in cash.

  4. Paid for painting private residence, $30 from cash drawer.

25. Theft from cash drawer, $25.

Petty Cash sales, $281.99.

  1. Sold F. Sinclair, 120 bxs. Raisins @ $1.50 ; 15 sacks Patna Rice, 200# ea. @ 2ic. ; received his cheque for the amount, less 3% discount.

  2. Drew a 30-day draft on R. Mathews in our own favour, to close his account. (Is the amount $168 ?)

30. Fire destroyed 8500 worth of goods ; received insurance $357 cash. (Should any entry be made for the $500?)

  1. Deposited in bank 30 x $1, 40 x $2, 3 x $4, 80 x $5, 70 x $10, 5 x $20, 3 x $50, 2 x $100 ; coin $180.65 ; cheques $100 and $247.35.

Paid salaries with cheques.

INVENTORIES taken May 31, 19-.

Asset Inventories :

.lferchandise.— 50# Tapioca   @ 3c.   5 bbls. Sugar, 240# ea.   @ Sic.

   150# Mixed Tuts @ IOc.   5 bbls. C. Oil, 4e0 gals. ea. @ 11c.

   7 bbls. Mess Pork @ $10.   10 sacks Oatmeal, 200# ea. @ 2c.

10 bbls. Apples   @ $4.   290# Patna Rice   @ 2 c.
Real Estate.—Store and Lot, valued now at $2150.

Interest Rec.—Accrued on Bills Rec. 6 and 8, $2.66.

Results.--Yet Loss $37.45: Vet Capital $5927.95.

96. Cash Book Used as a Cash Journal.

In the example in Section 97, which is the Cash Book for Set VIII., the Cash Book is used as a posting medium; previous to this it has been used as an auxiliary book (See Sec. 60). Notice on the Dr. side, that Cash is Dr. (Debtor) for $4944.60, and that Pupil, F. Simpson, Dry Goods, etc., are Cr. (Creditor) for the amounts opposite to them respectively; notice on the Cr. side, that Cash is Or. for $4877.35, and that Scholastic Bank, E. Denton & Co., Dry Goods, etc., are Dr. for the

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