t- 9- -l

(i) Using the accounts on page 8, give ONE example of EACH of the following
types ofaccounts.

NominalAccount

Personal Account

Current Liability

Non-current Asset

Long-term LiabilitY

(5 marks)

In the space provided on the form below, write a narrative to explain

each
(ii)
transaction identified by the date it occurred'

01 May

03 May

06 May

07 May

(5 marks)

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(b) Phoenix Processors records its weekly cash flow in the format below. The records are for
the first week in the month of July 2016.

2016
July Debit Credit Debit Credit
01 Opening balances
Cash 2 350
Bank 11 890
03 Cash sales 25 690
03 Deposited cash in bank 2s 000 25 000
05 Purchases by t0 470
05 Cashier withdraws cash I 170 I 170
from bank

(i) What kind of entry is the one made on 03 July 2016?

(1 mark)

Cash and bank transactions for Phoenix Processors for the

remainder of July are
as follows:

2016
July
$
08 Owner withdraws cash from bank to his house rent 8 000
09 Debtor - S. Francis paid with a cheque for $2000 and the
2 050
remainder in cash
10 Cash sales deposited in bank account 31 110
ll to creditor - J. Davis cheque 9 900
l8 Purchases for bank's credit card
12 000
25 Cash sales
6 840
29 paid in cash
4 500
(ii) using the form on page 11, prepare the cash Book of phoenix processors
for the
month of July 2016 incruding the transactions of the first
week.
(9 marks)

Total20 marks

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