Previous Ontario School Bookkeeping (1909) Next

 

70   BOOKKEEPING Set VIII.—D. E.—General Store Business.

Special Features.—Division of Merchandise Account into Dry Goods, Boots and Shoes, and Groceries Accounts; and Expense Account into Office Furniture, Rent, Insurance, and General Expense Accounts. Use of the Cash Book as a Cash Journal or posting medium.

 

Instructions :

(a) Books to be used—Business Papers, Journal, Cash Journal, Bill Book, and Ledger.

(b) Business Papers:

  1. Inward.—Notes on June 8, 14, 18 ; Cheques on June 3, 7, 17, 18, 21, 27 (draw., on various banks) ; Drafts on June 7, 17, 21 ; Order on June 19.

  2. Outward.—Tote on June 1 ; Cheques on June 3, 6, 10, 11, 12, 17, 19 ; Drafts on June 7, 14, 24; Deposit Slips on June 3, 22,.29; Invoices on June 4, 5, 6, 10, 13, 14, 1.9, 25.

(c) Make out business papers, and make entries in Journal, Cash Journal, and Bill Book;
post ; take a Trial Balance ; take stock ; make Financial Statements ; close the Ledger.

Directory:

Black, R., Listowel, Ont.

Denton, E. & Co., Toronto, Ont. Green, W., Galt, Ont.

Munro, J., Woodstock, Ont. Marks, S., Seaforth, Ont.

Phillips, F., Seaforth, Ont.

Rogers, E. & Co., Hamilton, Ont. Simpson, F., St. Mary's, Ont. All Others, Stratford, Ont.

Ledger Lines:

Pupil (Capital A/c)   H+ 6

Groceries    H + 9

E. Denton & Co   II+ 6

Wry Goods   H+ 14

Boots and Shoes    H+ 10

50(fice Furniture    II+ 4

Interest and Discount   H+ 6

Bills Payable    H + 4

Insurance    H+ 4

4Scholastic Bank   H+ 10

F. Simpson    H+ 3

R. Black    H+ 2

General Expense   H +

3 5J. Munro    H+ 4

S. Marks    H+ 4

Rent    H+ 4

Bills Receivable   H + 5

6E. Rogers & Co   H + 2

L. Martin    H+ 2

Cash,    11 + 4

Loss and Gain    H+ 8

Transactions—Set VIII.

Stratford, June 1, 19—. Pupil leases store # 75 Wellington Street from D. Winters at

$720 per annum, payable quarterly in advance, and opens up a,General Store Business.

Assets : Cash $3000 ; Dry Goods $1500 ; Boots and Shoes $500 ; Groceries $2000 ; Office

Furniture $150.

Liabilities : Balance due to E. Denton & Co. on a/c, $300 ; note favour of W. Green for $219, dated April 5, 19—, at two months, bearing interest at 6% per annum ; interest accrued on this note $2.05.

3. Deposited in the Scholastic Bank 5 x $4, 100 x $5, 48 x $10, 20 x $50, 5 x $100; coin $99.75 ; cheque for $100.25, made by M. Spanner.

Took out an insurance policy for $3000, in the Queen Insurance Co., at I% premium ; paid premium with cheque.

Engaged L. Martin as clerk at $50 per month.


Previous Ontario School Bookkeeping (1909) Next