In the spaces provided in the table below, name the document iambi Ltd. would issue under the circumstances described:
Documents to issue:
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Give reasons for maintaining books of original entry.
Reasons for maintaining books of original entry include:
On 2nd November 2006, Oromo received an invoice for Ksh 12,000. Terms of payment were trade discount 5% and cash discount 10%. if payment is made within 30 days.Determine the amount paid if payment was made on 28th November 2006.
The following transactions relate to Jelimo Stores:
Expected Response
Indicate the type of journal in which each of the following transaction would be recorded14/12/2020 Indicate the type of journal in which each of the following transaction would be recorded
Type of journals referred to are:
For each of the following transactions in the table below, indicate in the spaces provided, the source document from which the transaction would be recorded.
(a) Sales invoice/outgoing invoice.
(b) Debit note. (c) Credit note. (d) Purchases invoice. Identify the book of original entry used in recording each of the following transactions of Soya Traders.
The following Purchases Returns Journal relates to Farasi Traders:
Post the information above to the relevant ledger accounts. (4 marks)
Expected Response
Identify the source documents into which the information given in the table below would be recorded. (4 marks)
List four books of original entry that may be used to record transactions affecting stock.(4 marks)22/11/2020 Books of original entry that may be used to record transactions affecting stock
Books of original entry that may be used to record transactions affecting stock are:
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