Essay on Accounts Sba

1514 Words Jun 16th, 2012 7 Pages
CXC

PRINCIPLE OF ACCOUNTS PROJECT

School-Based Assessment (S.B.A)

(Year 2012)

[pic]

Submitted by: Danique Arthurs

Year: May/June 2012

Name of School: Charles Fordyce Business College

Name of Teacher: Charles Fordyce

Centre No: 100228

Candidate No:

Territory: Jamaica

Table of Contents Introduction………………………………………………………………..5 Acknowledgement………………………………………………………...6 Description of Business…………………………………………………...7 Location of Business……………………………………………………...8 Objectives of Business……………………………………………………9 Factors of Production……………………………………………………10 Source of Capital………………………………………………………...11 Transactions for the Month……………………………………………...12
…show more content…
Albert $10,000, M. Carl $18,000, C. Carey $15,000 Jan 8 Goods return from A. Albert $1,000 Jan 10 Purchase goods on credit from: A. Anthony $15,000, M. Marks $18,000, C. Snow $25,000 Jan 12 Receive cheque from M. Carl less 5% discount Jan 13 Paid wages in cheque $12,000 Jan 15 Return goods to A. Anthony $1,500 and M. Marks $1,000 Jan 20 Paid electricity by cheque $4,500 Jan 21 Cash sales banked $40,000 Jan 23 Paid the following by cheque less 2 ½ discount A. Anthony and M. Marks Jan 25 Paid sundry expenses in cash $1,500 Jan 28 Cash sales banked $29,000 Jan 30 Paid wages by cheque $12,000 Jan 30 Withdrew by cheque for personal use $4,000 Jan 31 Stock at close $39,000

Books of Original Entries

Types of books of original entry: ➢ Sales Journal:- for credit sales ➢ Purchases Journal:- for credit purchases ➢ Return Inwards Journal:- for goods returned to us by the customer ➢ Return Outwards Journal:- for goods returned by the business ➢ Cash Book:- for receipts and payments of cash and

Related Documents