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    TOPIC Practice Questions: Question: Table

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    ayesha abid
    The document contains several practice questions about accounting transactions, including: 1) Completing tables showing which accounts would be debited and credited for various transactions. 2) Recording transactions in the asset, liability, and capital accounts of three business owners - G. Powell, C. Williams, and L. Thompson. 3) Entering double entry bookkeeping for a month of transactions for Clear Mind. 4) Writing up transactions in the books of L. Thompson for March 19X8. The questions require identifying which accounts are debited and credited for different transactions, and recording the transactions in the appropriate accounts to practice basic bookkeeping skills.

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    TOPIC Practice Questions: Question: Table

    Uploaded by

    ayesha abid
    299 views3 pages
    The document contains several practice questions about accounting transactions, including: 1) Completing tables showing which accounts would be debited and credited for various transactions. 2) Recording transactions in the asset, liability, and capital accounts of three business owners - G. Powell, C. Williams, and L. Thompson. 3) Entering double entry bookkeeping for a month of transactions for Clear Mind. 4) Writing up transactions in the books of L. Thompson for March 19X8. The questions require identifying which accounts are debited and credited for different transactions, and recording the transactions in the appropriate accounts to practice basic bookkeeping skills.

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    Balance2 Ques

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    The document contains several practice questions about accounting transactions, including: 1) Completing tables showing which accounts would be debited and credited for various transactions. 2) Recording transactions in the asset, liability, and capital accounts of three business owners - G. Powell, C. Williams, and L. Thompson. 3) Entering double entry bookkeeping for a month of transactions for Clear Mind. 4) Writing up transactions in the books of L. Thompson for March 19X8. The questions require identifying which accounts are debited and credited for different transactions, and recording the transactions in the appropriate accounts to practice basic bookkeeping skills.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    299 views3 pages

    TOPIC Practice Questions: Question: Table

    Uploaded by

    ayesha abid
    The document contains several practice questions about accounting transactions, including: 1) Completing tables showing which accounts would be debited and credited for various transactions. 2) Recording transactions in the asset, liability, and capital accounts of three business owners - G. Powell, C. Williams, and L. Thompson. 3) Entering double entry bookkeeping for a month of transactions for Clear Mind. 4) Writing up transactions in the books of L. Thompson for March 19X8. The questions require identifying which accounts are debited and credited for different transactions, and recording the transactions in the appropriate accounts to practice basic bookkeeping skills.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    TOPIC => Practice Questions

    Question: Table

    Complete the following table:


    Account to Account to
    Transactions be debited be credited
    (a) Bought office machinery on credit from D Isaacs Ltd.
    (b) The proprietor paid a creditor, C Jones, from his private funds.
    (c) A debtor, N Fox, paid us in cash.
    (d) Repaid part of a loan from P Exeter by cheque.
    (e) Returned some office machinery to D Isaacs Ltd.
    (f) A debtor, N. Lyn, pays us by cheque.
    (g) Bought a used van and paid in cash.

    Question: G. Powell

    Write up the asset and liability and capital accounts to record the following transactions
    in the records of G. Powell.

    19X3 -July
    1 Started business with £2,500 in the bank.
    2 Bought office furniture by cheque £150.
    3 Bought machinery £750 on credit from Planers Ltd.
    5 Bought a motor van paying by cheque £600.
    8 Sold some of the office furniture, not suitable for the firm, for £60 on credit to J Walker & Sons
    15 Paid the amount owing to Planers Ltd £750 by cheque.
    23 Received the amount due from J Walker £60 in cash.
    31 Bought more machinery by cheque £280.

    Question: C. Williams

    You are required to open the asset and liability and capital accounts and record the following
    transactions for June 19X4 in the records of C. Williams.

    19X4 -June
    1 Started business with £2,000 in cash.
    2 Paid £1,800 of the opening cash into a bank account for the business.
    5 Bought office furniture on credit from Betta-Buih4.~td for £120.
    8 Bought a motor van paying by cheque £950.
    12 Bought works machinery from Evans & Sons on credit £560.
    18 Returned faulty office furniture costing £62 to Betta-Built Ltd.
    25 Sold some of the works machinery for £75 cash.
    26 Paid amount owing to Betta-Built Ltd £58 by cheque.
    28 Took £100 out of the bank and put it in the cash till.
    30 J Smith lent us £500, giving us the money by cheque.
    Question: New Table
    Complete the following table, showing the accounts to be debited and those to be credited:

    Account to Account to
    be debited be credited
    (a) Paid insurance by cheque.
    (b) Paid motor expenses by cash.
    (c) Rent received in cash.
    (d) Paid rates by cheque.
    (e) Received refund of rates by cheque.
    (f) Paid for stationery expenses by cash.
    (g) Paid wages by cash.
    (h) Sold surplus stationery receiving proceeds by cheque.
    (i) Received sales commission by cheque.
    (j) Bought motor van by cheque.

    Question: Clear Mind Transactions

    You are to enter the following transactions, completing double entry in the books for the month of
    May 19X7.

    1 9X7 -May
    1 Started business with £2,000 in the bank.
    2 Purchased goods £175 on credit from M Mills.
    3 Bought fixtures and fittings £150 paying by cheque.
    5 Sold goods for cash £275.
    6 Bought goods on credit £114 from S. Waites.
    10 Paid rent by cash £15.
    12 Bought stationery £27, paying in cash.
    18 Goods returned to M Mills £23.
    21 Let off part of the premises receiving rent by cheque £5.
    23 Sold goods on credit to U Henry for £77.
    24 Bought a motor van paying by cheque £300.
    30 Paid the month’s wages by cash £117.
    31 The proprietor took cash for himself £44.

    Question: L. Thompson

    Write up the following transactions in the books of L. Thompson:

    19X8 -March
    1 Started business with cash £1,500.
    2 Bought goods on credit from A Hanson £296.
    3 Paid rent by cash £28.
    4 Paid £1,000 of the cash of the firm into a bank account.
    5 Sold goods on credit to E. Linton £54.
    7 Bought stationery £15 paying by cheque.
    11 Cash Sales £49.
    14 Goods returned by us to A Hanson £17.
    17 Sold goods on credit to S Morgan £29.

    2
    20 Paid for repairs to the building by cash £18.
    22 E Linton returned goods to us £14.
    27 Paid Hanson by cheque £279.
    28 Cash purchases £125.
    29 Bought a motor van paying by cheque £395.
    30 Paid motor expenses in cash £15.
    31 Bought fixtures £120 on credit from A Webster.

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