Mariam is a trader. On 1 March 20–2 the balances in her cash book were: Cash $1

WRITE MY ESSAY

Mariam is a trader. On 1 March 20–2 the balances in her cash book were:
Cash $100 debit
Bank $494 credit
The following transactions took place in March 20–2:
March 4 Paid for repairs to office equipment by cheque, $293
7 Received a cheque from Nawaz, $110
11 Purchased motor vehicle paying by credit transfer, $5 130
13 Took $1 500 from the bank for personal use
19 Paid $286 to Anwar by credit transfer
21 Paid office expenses in cash, $67
27 Cash sales, $2 150
28 Paid wages in cash, $953
31 Paid all cash into bank except $150
a Prepare Mariam’s cash book for March 20–2. Balance the book and bring down the
balances on 1 April 20–2.
b Explain the significance of the credit balance on the bank column on 1 March 20–2.
c Explain why it is not possible to have a credit balance on the cash column.
d Explain the term ‘contra’. Illustrate your answer with reference to an appropriate entry
in the cash book in a

WRITE MY ESSAY