Books of Original Entry
GCE Financial Accounting

Books of Original Entry are the first place where business transactions are recorded before being posted to the ledger. (a) Define the term 'Books of Original Entry' and state TWO other names by whic…

Alhaji Musa is a wholesale trader dealing in electronics. The following transactions took place during the month of March 2023: March 2 — Sold goods on credit to Emeka Stores: 10 Samsung TVs at N45,0…

The following transactions were recorded in Amara Traders' purchases day book for March 2023: Goods from Kola Suppliers ₦120,000; Goods from Bello Enterprises ₦85,000; Goods from Tunde & Co. ₦95,000. …

Which of the following transactions would be recorded in the journal proper?

Emeka sold goods on credit to Ngozi for ₦60,000 less 10% trade discount. What amount would be recorded in Emeka's sales day book?

Which of the following is NOT a book of original entry?

Fatima's three-column cash book showed the following on 1 April 2023: Cash balance ₦12,000; Bank balance ₦85,000. During the month, she received a cheque of ₦30,000 from a debtor and paid ₦15,000 cash…

A business purchased a motor vehicle worth ₦2,500,000 on credit from Zenith Motors. In which book of original entry should this transaction be recorded?

The following information was extracted from Ade Merchants' books: Gross sales per sales day book ₦480,000; Trade discount allowed ₦48,000; Cash discount allowed ₦12,000. What amount would be posted t…

In a petty cash book operating an imprest system, the imprest amount is ₦25,000. At the end of the week, total payments amounted to ₦18,750. How much must be reimbursed to restore the imprest?

A trader returned goods worth ₦45,000 to a supplier. In which book of original entry would this transaction be recorded?