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120<br />
BUSINESS SKILLS<br />
Record-keeping exercise – answers (see Hand-out 50)<br />
Cashbook of Lance’s bicycle repair shop<br />
Month: June<br />
Transaction<br />
Cash<br />
Bank<br />
Cash in Cash out Balance Bank in Bank out Balance<br />
Balance carried forward<br />
01.6 1 Initial cash 11,000 11,000<br />
01.6 2 Initial money in bank 11,000 35,000 35,000<br />
01.6 3 Transfer bank to cash account 20,000 31,000 20’000 15,000<br />
01.6 4 Purchase of tools 25,000 6,000 15,000<br />
01.6 5 Payment commercial licence 500 5,500 15,000<br />
10.6 6 Sales of material 4,000 9,500 15,000<br />
10.6 7 Sales repair services 3,000 12,500 15,000<br />
15.6 8 Transfer cash to bank account 5,000 7,500 5,000 20,000<br />
25.6 9 Sales of repair services 2,500 10,000 20,000<br />
25.6 10 Sales of bicycle material 6,000 16,000 20,000<br />
Total balance (this page) 46,500 30,500 16,000 40,000 20,000 20,000<br />
Values carried forward (previous page) 0 0 0 0 0 0<br />
Values to carry forward (next page) 46,500 30,500 16,000 40,000 20,000 20,000<br />
Date<br />
No.<br />
Cashbook of Lance’s bicycle repair shop<br />
Month: July<br />
Transaction<br />
Cash<br />
Bank<br />
Cash in Cash out Balance Bank in Bank out Balance<br />
Balance carried forward 16,000 20,000<br />
01.7 1 Reimbursement credit Ferdy K. 15,000 1,000 20,000<br />
01.7 2 Sales repair services 3,300 4,300 20,000<br />
08.7 3 Sales repair services 5,000 9,300 20,000<br />
08.7 4 Sales of material 7,500 16,800 20,000<br />
19.7 5 Transfer cash to bank account 10,000 6,800 10,000 30,000<br />
25.7 6 Payment credit by Tony R. 4,000 10,800 30,000<br />
Total balance (this page) 19,800 25,000 -5,200 10,000 0 10,000<br />
Values carried forward (previous page) 46,500 30,500 16,000 40,000 20,000 20,000<br />
Values to carry forward (next page) 66,300 55,500 10,800 50,000 20,000 30,000<br />
Date<br />
No.<br />
Purchases on credit<br />
Name of the customer: Ferdy Bicycle Materials Inc.<br />
Contact information: Wind Mountain, Calibier Street 5, 123 4567<br />
Credit period:<br />
60 days<br />
Credit line: $20,000<br />
Date<br />
Transaction<br />
Credit<br />
amount<br />
Amount paid<br />
Outstanding<br />
amount<br />
Signature<br />
01.6 Purchase repair material 15,000 0 15,000 Lance A.<br />
01.7 Reimbursement credit 15,000 0 Ferdy K.<br />
31.7 Purchase repair material 20,000 0 20,000 Lance A.
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