Masuma owns a furniture store. She maintains a full set of accounting records. Her financial year ends on 31 March.
Masuma provided the following information at 31 March 2018.
1 On 1 April 2017 Amina, a credit customer, owed $160. On 1 March 2018 she paid 75% of this and the balance was written off as a bad debt.
2 On 4 January 2018 additional fixtures and fittings, $2000, were purchased on credit from
Office Traders, but this transaction was not recorded.
3 The fixtures and fittings are depreciated at the rate of 20% per annum on the cost of equipment
held at the end of each financial year.
4 On 31 March 2018 the discount columns in the cash book showed the following totals for the month:
discount column on debit side $55
discount column on credit side $68
These totals had not been transferred to the discount accounts in the ledger.
REQUIRED
(a) Record this information in the following accounts in Masuma’s ledger at 31 March 2018.
Some entries have already been made in the accounts during the year.
Close all the accounts by balancing or by making a transfer to an appropriate account.
Masuma
Amina account
Date
|
Details
|
$
|
Date
|
Details
|
$
|
2017
|
|
|
|
|
|
April 1
|
Balance b/d
|
160
|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
Bad debts account
Date
|
Details
|
$
|
Date
|
Details
|
$
|
2018
|
|
|
|
|
|
Feb 28
|
Total written off
|
135
|
............
|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
Fixtures and fittings account
Date
|
Details
|
$
|
Date
|
Details
|
$
|
2017
|
|
|
|
|
|
April 1
|
Balance b/d
|
4000
|
............
|
....................................
|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
Provision for depreciation of fixtures and fittings account
Date
|
Details
|
$
|
Date
|
Details
|
$
|
|
|
|
2017
|
|
|
............
|
....................................
|
..............
|
April 1
|
Balance b/d
|
1600
|
............
|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
Discount allowed account
Date
|
Details
|
$
|
Date
|
Details
|
$
|
2018
|
|
|
|
|
|
Feb 28
|
Total to date
|
3590
|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
Discount received account
Date
|
Details
|
$
|
Date
|
Details
|
$
|
|
|
|
2018
|
|
|
............
|
....................................
|
..............
|
Feb 28
|
Total to date
|
4130
|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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|
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