New Era Accounting WORKSHEETS
|
|
- Anabel Park
- 5 years ago
- Views:
Transcription
1 New Era Accounting WORKSHEETS EMS TRAINING WORKSHEETS Page 1
2 TASK 3 Spreadsheet of Carol s Curls No. Bank ASSETS Hairdressing Equipment Office equipment LIABILITIES Accounts payable OWNERS' EQUITY A = L + OE = CAROL'S CURLS STATEMENT OF NET WORTH MARCH 2018 ASSETS TOTAL ASSETS OWNER S EQUITY LIABILITIES TOTAL EQUITY AND LIABILITIES EMS TRAINING WORKSHEETS Page 2
3 TASK 4:CAROL CONTINUED ASSETS LIABILITIES Date/ No. Bank Hairdressing equipment Office EXPENSES DRAWINGS equipment Acc. Rec Acc. Payable Loan INCOME CAPITAL A + E + D = L + C + I = EMS TRAINING WORKSHEETS Page 3
4 CALCULATION OF NET PROFIT Fee income Expenses: Net profit NOTE FOR OWNER S EQUITY Capital ACCOUNTING CONCEPT/RULE MATCHING PRINCIPLE In order to calculate profit, income is matched against the relevant expenses incurred in producing that income. Owner s equity CAROL'S CURLS STATEMENT OF NET WORTH APRIL 2018 ASSETS TOTAL ASSETS OWNER S EQUITY LIABILITIES TOTAL EQUITY AND LIABILITIES EMS TRAINING WORKSHEETS Page 4
5 TASK 5, 6 and 7 GENERAL LEDGER GENERAL LEDGER OF CAROL S CURLS Dr + BANK - Cr Mar 1 Capital Mar 3 Advertisement Fee income Supplies 800 Apr 1 Balance b/d Wages Drawings Balance c/d CAPITAL + Mar 1 Bank EMS TRAINING WORKSHEETS Page 5
6 + HAIRDRESSING EQUIPMENT - Mar 2 Accounts payable Mar 5 Accounts payable 600 Apr 1 Balance b/d Balance c/d OFFICE EQUIPMENT - Mar 2 Accounts payable ACCOUNTS PAYABLE + Mar 5 Hairdressing equipment 600 Mar 2 Hairdressing equipment Balance c/d Office equipment Apr 1 Balance b/d ADVERTISEMENT Mar 3 Bank SUPPLIES Mar 3 Bank 800 EMS TRAINING WORKSHEETS Page 6
7 FEE INCOME + Mar 6 Bank WAGES Mar 7 Bank DRAWINGS Mar 8 Bank 500 ACCOUNTS RECEIVABLE ELECTRICITY LOAN: NEDBANK EMS TRAINING WORKSHEETS Page 7
8 EQUIPMENT STOLEN INTEREST ON LOAN RENT TRIAL BALANCE OF CAROLS CURLS AS AT 3O APRIL Fol Debit Credit Bank Capital Hairdressing equipment Office equipment Accounts payable Advertisement Supplies Fee income Wages Drawings Accounts receivable Electricity Loan Equipment stolen Interest on loan Rent EMS TRAINING WORKSHEETS Page 8
9 TASK 8.2 GENERAL LEDGER OF PENNY S PENS Dr TRADING STOCK B5 Cr Dr BANK B6 Cr NOMINAL ACCOUNTS SECTION Dr SALES N1 Cr COST OF SALES N2 GROSS PROFIT FOR THE MONTH OF OCTOBER:. -. =. EMS TRAINING WORKSHEETS Page 9
10 TASK 9 BB Supermarket: Cash journals, Ledger, Trial Balance, CASH RECEIPTS JOURNAL OF BB SUPERMARKET MAY 20.8 Doc No Day Details Fol Analysis of receipts Bank Sales Cost of sales Sundry accounts Amount Fol Details CRJ5 Rec Brian Bell Capital CS Cash Rec Baxter Wholesalers Trading stock CS Cash EMS TRAINING WORKSHEETS Page 10
11 CASH PAYMENTS JOURNAL OF BB SUPERMARKET MAY 20.8 Doc No Day Details Fol Bank Trading stock Wages & salaries Consumable stores Sundry accounts Amount Fol Details CPJ5 C Baxter Wholesalers C Pinetown Municipality N8 Water and electricity C2326 Telkom B9 Telephone C Cash C Baxter Wholesalers C2329 Lokal Chemicals C Oxlo Suppliers C Cash C J. Cele C Cash / Brian Bell B4 Drawings EMS TRAINING WORKSHEETS Page 11
12 GENERAL LEDGER BB SUPERMARKET BALANCE SHEET ACCOUNTS SECTION Dr CAPITAL B1 Cr May 31 May 1 Balance b/d June May 1 Balance b/d DRAWINGS B2 June May 1 Balance b/d VEHICLE B3 EQUIPMENT May 1 Balance b/d May 31 Balance c/d B4 June 1 Balance b/d EMS TRAINING WORKSHEETS Page 12
13 TRADING STOCK May 1 Balance b/d May B5 June 1 Balance b/d BANK May 1 Balance b/d May 31 B6 June 1 Balance b/d Dr CASH FLOAT B7 Cr May 1 Balance b/d 500 May 31 Balance c/d June 1 Balance b/d LOAN FROM UBS May 31 Balance c/d May 1 Balance b/d B8 June 1 Balance b/d EMS TRAINING WORKSHEETS Page 13
14 NOMINAL ACCOUNTS SECTION SALES N1 May 1 Total b/d May 1 Total b/d COST OF SALES N2 May 1 Total b/d RENT EXPENSE N3 CONSUMABLE STORES May 1 Total b/d May 17 N4 May 1 Total b/d WAGES AND SALARIES N5 May 10 Bank CPJ5 INSURANCE N6 EMS TRAINING WORKSHEETS Page 14
15 Dr REGISTRATION FEE N7 Cr May 12 Bank CPJ5 480 May 20 Bank CPJ5 880 WATER AND ELECTRICITY N8 May 20 Bank CPJ TELEPHONE N9 COMMISSION INCOME N10 May 9 Bank CRJ TRIAL BALANCE OF BB SUPERMARKET AS AT 31 MAY 20.8 Balance Sheet accounts section Fol Debit Credit Capital B1 Drawings B2 Vehicle B3 Equipment B4 Trading stock B5 Bank B6 Cash float B7 Loan from UBS B8 Nominal accounts section Sales N1 Cost of sales N2 Rent expense N3 Consumable stores N4 Wages and salaries N5 Insurance N6 Trading licence N7 Water and electricity N8 Telephone N9 Commission income N10 EMS TRAINING WORKSHEETS Page 15
16 TASK 10 WE-R-NUTS: DJ, CRJ, General Ledger, Debtors Ledger, Debtors List DEBTORS JOURNAL OF WE-R-NUTS - JULY 20.8 Inv. No. D Debtor Fol Sales Cost of sales 23 2 S. Martin DL A. Cronje DL C. Munro DL S. Martin DL D. Motala DL1 DJ7 CASH RECEIPTS JOURNAL OF WE-R-NUTS - JULY 20.8 Doc. no. D Details Fol Analysis of receipts B4/N1 Bank B3/N2 Debtors control EMS TRAINING WORKSHEETS Page 16 Sales Cost of sales CS Cash/Sales Sundry accounts CRJ7 Amount Fol Details BS/Rec 67 N. Armstrong Capital Rec 68 3 C. Munro DL4 CS B. Fitt Rec A. Cronje DL3 CS Cash/Sales Rec 70 D. Motala DL Rec S. Martin DL CS Cash/Sales Rec A. Cronje DL Rec 73 D. Dent Rent income Rec D. Motala DL1 * * = R B4 N1 N2/B3
17 GENERAL LEDGER OF WE-R-NUTS BALANCE SHEET ACCOUNTS SECTION Dr TRADING STOCK B3 Cr July 1 Balance b/d July 31 Aug 1 Balance b/d DEBTORS CONTROL July 1 Balance b/d 688 July 31 B4 Aug 1 Balance b/d NOMINAL ACCOUNTS SECTION SALES 20.8 N1 July 1 Total/Balance b/d July 1 Total/Balance b/d COST OF SALES N2 DEBTORS LEDGER OF WE-R-NUTS D. MOTALA DL1 Date Details Fol Debit Credit Balance July 1 Balance b/d 125 Dr EMS TRAINING WORKSHEETS Page 17
18 S. MARTIN DL2 Date Details Fol Debit Credit Balance July 1 Balance b/d 84 Dr A. CRONJE DL3 Date Details Fol Debit Credit Balance July 1 Balance b/d 423 Dr C. MUNRO DL4 Date Details Fol Debit Credit Balance July 1 Balance b/d 56 Dr 3 18 DEBTORS LIST ON 31 JULY 20.8 Debtor Fol Amount D. Motala DL1 S. Martin DL2 A. Cronje DL3 C. Munro DL4 Balance per Debtors control a/c B4 EMS TRAINING WORKSHEETS Page 18
19 TASK 11 GENERAL LEDGER OF 2-DI-4 FOODS BALANCE SHEET ACCOUNTS SECTION Dr BANK B1 Cr July 1 Balance b/d July July 31 Balance b/d TRADING STOCK B2 CREDITORS CONTROL B July 31 July 1 Balance b/d Aug July 31 NOMINAL ACCOUNTS SECTION STATIONERY N July 7 9 PACKAGING N July 28 WAGES N3 EMS TRAINING WORKSHEETS Page 19
20 CREDITORS LEDGER OF 2-DI-4 FOODS COLES CATERERS Date Details Fol Debit Credit Balance July 1 Balance b/d 900 Cr 2 26 CL1 MOOSA S MEATS CL2 Date Details Fol Debit Credit Balance July 1 Balance b/d Cr 3 15 WU WHOLESALERS CL3 Date Details Fol Debit Credit Balance July 1 Balance b/d Cr 7 CREDITORS LIST ON 31 JULY 20.1 Creditor Fol Amount Coles Caterers CL1 Moosa s Meats CL2 Wu Wholesalers CL3 Balance per Creditors control a/c B3 EMS TRAINING WORKSHEETS Page 20
GR. 9 EMS REVISION TEST TERM 4
TOTAL: 50 GR. 9 EMS REVISION TEST TERM 4 DURATION: 30 MINUTES QUESTION 1 POSTING TO GENERAL LEDGER AND DEBTOR S LEDGER [28 marks; 18 minutes] Toys 4 Us toy store sells toys to various other toy stores
More informationGRADE 10 CLASS TEST POSTING TO THE LEDGER 50 minutes; 70 marks
GRADE 10 CLASS TEST POSTING TO THE LEDGER 50 minutes; 70 marks INSTRUCTIONS: 1. You are provided with complete cash journals of Mars & Sons who are a stationery shop that sell to the public at a mark-up
More informationDirectorate: Curriculum FET ACCOUNTING. PREPARATION FOR GRADE 10 Workbook
Directorate: Curriculum FET ACCOUNTING PREPARATION FOR GRADE 10 Workbook Activity 1.1 Baseline assessment Concept Answer Definition Asset A Book of first entry where information is recorded from the source
More informationCONTROL TEST 1 TOTAL: 70
CONTROL TEST 1 TOTAL: 70 NAME: Question 1 (36 Marks) The following information relates to Always Talking Stores, owned by Ruby Uys Required: Use the information given below to complete the general ledger
More informationGRADE 10 ACCOUNTING CYCLE TEST TERM 2 APRIL marks 60 minutes. QUESTION 1 TRANSACTION ANALYSIS (18 marks; 13 minutes)
GRADE 10 ACCOUNTING CYCLE TEST TERM 2 APRIL 201 80 marks 60 minutes INSTUCTIONS: 1) Answer on the answer booklet provided. 2) You may use pencil ) No tip-ex is allowed 4) Write neatly QUESTION 1 TRANSACTION
More informationCONTROL ACCOUNTS. The debtors control and creditors control accounts facilitates accounting control over the debtors and creditors accounts.
CONTROL ACCOUNTS SPECIFIC OUTCOMES Post to the general ledger, debtors ledger and creditors ledger from the subsidiary books and balance ledger accounts where necessary. Reconcile the control accounts
More informationFundamentals of Accounting Resources
Contents Figure 1 - The Profit and Loss statement example... 2 Figure 2 - Balance sheet example... 3 Figure 3 - Example of a Balance Sheet... 4 Figure 4 - Example of a Profit & Loss Sheet... 5 Figure 5-10
More informationMemo for Bank Recon classwork exercises Chapter 3 Task 3.1 Task 3.11
Memo for Bank Recon classwork exercises Chapter 3 Task 3.1 Task 3.11 TASK 3.1 Ashley: Revision - Case study 3.1.1 Explain how Ashley benefits from operating a current banking account. Safety he does not
More informationBANK RECONCILIATION. Make supplementary entries in the cash receipts journal and the cash payments journal.
BANK ECONCILIATION SPECIFIC OUTCOMES _ Compare entries in the bank statement with entries in the cash receipts journal, cash payments journal and the bank reconciliation statement of the previous month.
More informationFAC1502 Revision material
FAC1502 Revision material PROGRAM Examination issues General problem areas Q & A IMPORTANCE of module This module - foundation of all your studies in accounting Ensure that you understand and know everything
More informationJUNE EXAMINATION PAPER 200 marks 2 hours GRADE 10 ACCOUNTING
JUNE EXAMINATION PAPER 200 marks 2 hours GRADE 10 ACCOUNTING INSTRUCTIONS AND INFORMATION: 1. Answer ALL the questions in the Answer Book provided. 2. Show all workings/calculations in order to achieve
More informationChapter 20 Notes Uncollectible Accounts Expense
Chapter 20 Notes Uncollectible Accounts Expense Uncollectible Account- An account that has been defaulted on. Meaning that the person did not pay when it was due. Explanation of the Accounts Uncollectible
More informationACCOUNTING JUNE EXAMINATION GRADE 11
1 ACCOUNTING JUNE EXAMINATION 2015 GRADE 11 MARKS: 300 TIME: 3 HOURS This Question paper consists of 13 pages and 11 pages Answer book INSTRUCTIONS AND INFORMATION 2 1. You are provided with a question
More informationACCOUNTING. Written examination 1. Monday 6 June 2005
Victorian CertiÞcate of Education ACCOUNTING Written examination 1 Monday 6 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationACCOUNTING. Written examination 2. Thursday 2 November 2006
Victorian Certificate of Education ACCOUNTING Written examination 2 Thursday 2 November Reading time: 11.45 am to 12.00 noon (15 minutes) Writing time: 12.00 noon to 1.30 pm (1 hour 30 minutes) QUESTION
More informationDEBITORS & CREDITORS RECONCILIATIONS (LIVE) 14 MAY 2015 Section A: Summary Content Notes
DEBITORS & CREDITORS RECONCILIATIONS (LIVE) 14 MAY 2015 Section A: Summary Content Notes An important part of managerial accounting is for a business to keep track of its debtors. The Debtors Control account
More informationGRADE 11 NOVEMBER 2013 ACCOUNTING ANSWER BOOK
SURNAME AND NAME: NATIONAL SENIOR CERTIFICATE GRADE 11 NOVEMBER ACCOUNTING ANSWER BOOK QUESTION MAX. MARKS 1 50 2 100 3 40 4 30 5 35 6 45 TOTAL 300 MARKS OBTAINED MODERATION This answer book consists of
More informationACCOUNTING PRINCIPLES
ACCOUNTING PRINCIPLES ENTITY The business must be a separate accounting entity from its owner and from other entities. This includes multiple businesses as they are each a separate accounting entity in
More informationGRADE 11 TEST ON ADJUSTMENTS FOR MORE TESTS AND TASKS REFER TO THE GRADE 11 STUDY GUIDE
GRADE 11 TEST ON ADJUSTMENTS FOR MORE TESTS AND TASKS REFER TO THE GRADE 11 STUDY GUIDE FINANCIAL STATEMENTS (80 marks; 48 minutes) You are provided with information relating to BB Spaza, which is owned
More information1 General journal entries for purchases returns and sales returns
Introduction The re-accredited VCE Accounting course (2003 2006) has certainly evolved over the last couple of years. Having witnessed two sets of examinations (2003 and 2004), teachers have now been given
More informationMYOB Bookkeeping Assessment 1A. Journals. (Note: The number of rows in journals won't necessarily match the number of transactions to be posted)
MYOB Bookkeeping Assessment 1A Journals (Note: The number of rows in journals won't necessarily match the number of transactions to be posted) Sales Journal Date Invoice No Debtor Sales Services $ Sales
More informationECONOMIC AND MANAGEMENT SCIENCES GRADE 8 JUNE EXAMINATION MEMORANDUM
ECONOMIC AND MANAGEMENT SCIENCES GRADE 8 JUNE EXAMINATION MEMORANDUM EXAMINER: C. BUCKLEY/G. BELL DATE: JUNE 2017 MODERATOR: E. FOURIE TIME: 1½ HOURS MARKS: 150 INSTRUCTIONS: 1. Read all the instructions
More informationTeacher: Mr. Jones ACCOUNTS WORKBOOK GRADE 11 PRINCE WILLIAMS HIGH SCHOOL TERM 1
Name: Class: Option: 1 Teacher: Mr. Jones ACCOUNTS WORKBOOK GRADE 11 PRINCE WILLIAMS HIGH SCHOOL TERM 1 INSTRUCTIONS TO CANDIDATES REVIEW NOTES AND ANSWER QUESTIONS PROVIDED ALL YOUR ANSWERS MUST BE WRITTEN
More informationGRADE 11 NOVEMBER 2013 ACCOUNTING MARKING GUIDELINE (MEMORANDUM)
NATIONAL SENIOR CERTIFICATE GRADE 11 NOVEMBER ACCOUNTING MARKING GUIDELINE (MEMORANDUM) MARKS: 300 GENERAL PRINCIPLES: 1. Where calculations are required, award full marks for the final answer. If the
More information(Accrual and Prepayment)
Accrual and Prepayment Longman Question 13 The following balances were extracted from the ledgers of Mr Ko at 31 March 2014: $ Telephone 12,355 Dr Rent and rates 55,000 Dr Loan to Bob 450,000 Dr Rental
More informationP.G. Diploma in Banking and Finance EXAMINATION, 2017 BANKS, FINANCIAL INSTITUTIONS AND FINANCIAL MARKETS. Paper I
Total No. of Questions 5] [Total No. of Printed Pages 2 Seat No. [5179]-1 P.G. Diploma in Banking and Finance EXAMINATION, 2017 BANKS, FINANCIAL INSTITUTIONS AND FINANCIAL MARKETS Paper I Time : Three
More informationRecording cash transactions of service and commercial enterprises
OpenStaxCNX module: m31768 1 Recording cash transactions of service and commercial enterprises Siyavula Uploaders This work is produced by OpenStaxCNX and licensed under the Creative Commons Attribution
More informationCycle Test 1: Term 1 Grade 11 Accounting February 2014 BANK RECONCILIATIONS, CREDITORS RECONCILIATIONS, ETHICS AND CONTROLS
Cycle Test 1: Term 1 Grade 11 Accounting February 2014 BANK RECONCILIATIONS, CREDITORS RECONCILIATIONS, ETHICS AND CONTROLS Examiner: J Cansfield Marks: 100 Time: 1 hour Instructions: 1. Answer on this
More informationFAC 1501 EXAM PACK.
FAC 1501 EXAM PACK INTODUCTOY FINANCIAL ACCOUNTING OCTOBE NOVEMBE 2017 SOLUTION 1: MULTIPLE CHOICE QUESTIONS 1.1. 1 1.2. 1 1.3. 4 1.4. 3 Assets 800 000 Property, plant & Equipment 600 000 Trade and other
More informationRecord Transactions in the Journal. Copy (post) to the Ledger. Prepare the Trial Balance
Explain accounts, journals, and ledgers as they relate to recording transactions and describe common accounts Chapter 2 Record Transactions in the Journal 2 Basic summary device Detailed record of increases
More informationCPT Chapter2, Unit-3 Fundamentals of Accountancy CA.S.K.Chhabra
CPT Chapter2, Unit-3 Fundamentals of Accountancy CA.S.K.Chhabra What is a Trial balance? It is a Statement prepared to ensure the arithmetical accuracy of all the accounts before the preparation of the
More informationPRINCE LIMITED You are provided with information for the financial year ended 28 February 2015.
REVISING ADJUSTMENTS FOR THE BALANCE SHEET (LIVE) Section B: Exam Questions Question 1 CONCEPTS GAAP PRINCIPLES 27 AUGUST 2015 REQUIRED: Choose an explanation from COLUMN B that matches a concept in COLUMN
More informationTERMINOLOGY. Statement of comprehensive income for the year ended.. Income statement for the year ended.
GENERAL ISSUES Textbook 3 rd edition Admission to exam: Submission of 1 st assignment Year/examination mark: Ass 1: 50% of 10% Ass 2: 50% of 10% If you obtain 60% for Ass 1 and 0% for Ass 2, your year
More information9. SELF BALANCING LEDGERS
9. SELF BALANCING LEDGERS SOLUTIONS TO ASSIGNMENT PROBLEMS PROBLEM NO.1 In the Debtors Ledger General Ledger Adjustment Account Cr. Particulars 2011 Particulars Debtors Ledger Adjustment Account Returns
More information2007 VCE VET Financial Services GA 2: Written examination
2007 VCE VET Financial Services GA 2: Written examination GENERAL COMMENTS Students were well prepared for the 2007 VCE VET Financial Services examination. They are reminded to attempt each question and
More informationACCOUNTING. Written examination 1. Monday 7 June 2004
Victorian Certificate of Education ACCOUNTING Written examination 1 Monday 7 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationChapter 5 Extra review questions
Accounting for Non-Accountants 10th Online Material 1 Chapter 5 Extra review questions 1 Enter up the entries needed in the journal to correct the following errors. Narratives are not required: (a) Advertising
More informationACCOUNTING 1 BACHELOR OF COMMERCE
JULY 2013 SUPPLEMENTARY/AEGROTAT EXAMINATION MODULE: ACCOUNTING 1 PROGRAMME: BACHELOR OF COMMERCE DATE: 31 July 2013 TIME: 09h00 12h00 DURATION: 3 hours MARKS: 100 EXAMINER: P. Salikram MODERATOR: N. Naidoo
More information(c) Debtor overpaid the amount owed. Debtor paid his account and later returned goods.
1 David Odoyo maintains a full set of books of account. He prepares a purchases ledger control account and a sales ledger control account at the end of every month. (a) State two advantages of control
More informationGRADE 10 ASSESSMENT TEST: 1 HOUR ACCOUNTING. Enter the correct source document next to the relevant journal in the space provided below:
GRADE 10 ASSESSMENT TEST: 1 HOUR ACCOUNTING QUESTION ONE (10 MARKS) Enter the correct source document next to the relevant journal in the space provided below: Source Document: Receipt Bank Statement Credit
More informationCurrent liability Creditors mark each
.. Jacintha Trading and Profit and Loss Account for the year ended 3 December 200 $ $ $ Opening stock 60000 Sales 63000 Purchases 26500 Less sales returns 550 Less purchases returns 475 62450 26025 Add:
More informationOsborne Books Tutor Zone. Advanced Bookkeeping. Answers to chapter activities
Osborne Books Tutor Zone Advanced Bookkeeping Answers to chapter activities Osborne Books Limited, 2016 2 a d v a n c e d b o o k k e e p i n g t u t o r z o n e 1 The accounting system 1.1 FINANCIAL DOCUMENTS
More informationMARK SCHEME for the May/June 2007 question paper 0452 ACCOUNTING
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June question paper 0452 ACCOUNTING 0452/02 Paper 2, maximum raw mark
More informationVCE ACCOUNTING CLARIFICATION OF METHODS What terminology is going to be used in the June and November examinations in 2004?
VCE ACCOUNTING CLARIFICATION OF METHODS 2003 2006 What terminology is going to be used in the June and November eaminations in 2004? Terms to be used in eaminations Terms that will not be used in eaminations
More informationUNIVERSITY OF JOHANNESBURG FACULTY OF EDUCATION NOVEMBER EXAMINATION PROGRAMME: B Ed MODULE: ECONOMICS AND MANAGEMENT SCIENCES FOR TEACHERS 2B
1 of 6 UNIVERSITY OF JOHANNESBURG FACULTY OF EDUCATION NOVEMBER EXAMINATION 2014 PROGRAMME: B Ed MODULE: ECONOMICS AND MANAGEMENT SCIENCES FOR TEACHERS 2B CODE: EMT2B20 TIME: 2 hours MARKS: 100 EXAMINER:
More informationPractice exercise solutions
Bookkeeping to Trial Balance Practice exercise solutions Learning Module: An introduction to business, bookkeeping and accounting Practice exercise 1a (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) D M
More informationACCOUNTING: PAPER I INFORMATION BOOKLET
NATIONAL SENIOR CERTIFICATE EXAMINATION NOVEMBER ACCOUNTING: PAPER I Time: 2 hours 200 marks INFORMATION BOOKLET PLEASE TURN OVER Page ii of x QUESTION 1 ASSET MANAGEMENT (15 marks, 12 minutes) Information
More informationLCCI International Qualifications. Book-keeping Level 1. Model Answers Series (1017)
LCCI International Qualifications Book-keeping Level 1 Model Answers Series 4 2011 (1017) For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk Book-
More informationLearning Channel (Pty) Ltd 2nd Floor 37 Bath Ave Rosebank Grade 10 Accounting MEMORANDUM
Learning Channel (Pty) Ltd 2nd Floor 37 Bath Ave Rosebank 011 280-5451 www.learn.co.za Grade 10 Accounting MEMORANDUM Grade 10 Accounting products available from Learning Channel: Discipline Transparency
More informationACCOUNTING GRADE 10 NOVEMBER 2015
ACCOUNTING GRADE 10 NOVEMBER 2015 MARKS: 300 TIME: 3 HOURS THIS QUESTION PAPER CONSISTS OF 13 PAGES INCLUDING THE COVER PAGE AND AN ANSWER BOOK OF 14 PAGES. 1 INSTRUCTIONS AND INFORMATION Read the following
More information2010 Paper 2 Business Exam Answers JC-Learn. JC-Learn. Business Studies. Higher Level Exam - Paper 2. 1 P a g e
JC-Learn Business Studies Higher Level 2010 Exam - Paper 2 1 P a g e 1. This is a Book of First Entry, Ledger and Trial Balance Question. Answer all parts of this question: SMITH Ltd, a clothing company,
More informationUnit 3 Accounting. Practice Exam Question Booklet. A non-profit organisation supporting students to achieve their best.
A non-profit organisation supporting students to achieve their best. Practice Exam Question Booklet Duration: 15 minutes reading time, 90 minutes writing time Structure of book: Number of questions Number
More informationThis question paper consists of 5 pages. PLEASE NOTE:
This question paper consists of 5 pages. PLEASE NOTE: 1. Ensure that you are writing the correct examination paper. 2. Ensure that you are handed the correct examination answer book (BLUE) by the invigilator.
More informationGRADE 11 NOVEMBER 2012 ACCOUNTING ANSWER BOOK
Surname and Name: Province of the EASTERN CAPE EDUCATION NATIONAL SENIOR CERTIFICATE GRADE 11 NOVEMBER 2012 ACCOUNTING ANSWER BOOK QUESTION MAX. MARKS 1 105 2 5 3 5 30 5 35 6 0 TOTAL 300 MARKS OBTAINED
More informationAim: to use a general journal entry from the previous lecture (week 2) and post to a T account.
Reconstruction of accounts and error correction 1/07/2017 3:53 PM Lecture T accounting (Part 1) The video lecture for this topic is in two parts, which together look at steps 3-5 of the accounting, cycle
More informationACC100 Introduction to Accounting
ACC100 Introduction to Accounting Week 4 Recording Transactions Chapter 3 - Recording Transactions Study Group Australia Pty Limited, SGA1286-F2/10/12 2 Learning Outcomes On completion of this week s study,
More informationMARK SCHEME for the May/June 2010 question paper for the guidance of teachers 9706 ACCOUNTING
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Subsidiary Level and GCE Advanced Level MARK SCHEME for the May/June 2010 question paper for the guidance of teachers 9706 ACCOUNTING 9706/23
More informationDE ANZA COLLEGE Accounting 1A Comprehensive Problem for Lawrence Scott Osborne's Class ONLY. Y. Chang Company COVER SHEET
DE ANZA COLLEGE Accounting 1A Comprehensive Problem for Lawrence Scott Osborne's Class ONLY Y. Chang Company COVER SHEET The purpose of this project is to give you experience doing manual accounting. You
More informationChapter 5. Solution 5.1. Donncha O Donoghue 1
Chapter 5 Solution 5.1 Distinguish between books of original entry and ledger accounts The books of original entry ( day books or journals ) are the books in which transactions are first recorded and are
More informationMULTIPLE CHOICE QUESTIONS CHAPTERS 6 10
MULTIPLE CHOICE QUESTIONS CHAPTERS 6 10 CHAPTER 6 1. Each T account contains the exact amount owing to a supplier (A) Sales ledger (B) Purchases ledger (C) General ledger (D) Cash book 2. The Trial balance
More informationActivity 1: Transactions
Activity 1: Transactions Prepare the general journal entries to record the following transactions for the business for the month of May 2016 (ignore GST): May 1 Owner deposited $50,000 of his own money
More information8 Self-Balancing Ledgers
8 Self-Balancing Ledgers BASIC CONCEPTS System Ledger keeping of Self Balancing Ledger System implies a system of ledger keeping which classifies ledgers as per nature of transactions. In this system,
More informationChapter 5. Control Accounts. Notes to teachers
Chapter 5 Control Accounts Notes to teachers 1 Start with Chapters 3 and 4 of Frank Wood s Introduction to Accounting and briefly explain to students the basic principles of recording in the books and
More informationACCOUNTING: PAPER II INFORMATION BOOKLET. Sales 1. Average creditors 365 or 12 Credit purchases 1 Closing inventories 365 or 12 Cost of sales 1
NATIONAL SENIOR CERTIFICATE EXAMINATION NOVEMBER 2012 ACCOUNTING: PAPER II Time: 2 hours 100 marks INFORMATION BOOKLET Gross Profit 100 Operating expenses 100 Net profit after tax 100 Average shareholders'
More informationJUNIOR CERTIFICATE 2010 BUSINESS STUDIES PAPER 11 SUPPORT NOTES. GENERAL LEDGER of SMITH Ltd. Machinery A/C 1/6 Balance B/D GJ 250,000 1
Q (A~C) Date 00 JUNIOR CERTIFICATE 00 BUSINESS STUDIES PAPER SUPPORT NOTES Book of First Entry, Ledger and Trial Balance of SMITH Ltd Details F Total Date Details F Total 00 GENERAL LEDGER of SMITH Ltd
More informationACCOUNTING. Written examination 1. Tuesday 9 June 2009
Victorian Certificate of Education ACCOUNTING Written examination 1 Tuesday 9 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION BOOK Number
More informationSupport Notes for 2015 F NET F NET. 10/5 DIM Ltd 91 CL 26,000 5,980 31,980 GL GL 1 ½ ½ ½. Analysed Cash Book of BRIGHT Ltd Debit Side (4½) Date 2015
Support Notes for Q.1 Question on Books of First Entry, Ledger and Trial Balance (A~B) Sales Book of BRIGHT Ltd () Details Invoice No. F NET VAT TOTAL 1/5 WATT Ltd 20 DL,000 10,120 5,120 19/5 WATT Ltd
More informationFinal accounts for sole traders and partnerships
Osborne Books Tutor Zone Final accounts for sole traders and partnerships Chapter activities Osborne Books Limited, 2013 2 f i n a l a c c o u n t s f o r s o l e t r a d e r s a n d p a r t n e r s h
More information7110 PRINCIPLES OF ACCOUNTS
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Ordinary Level MARK SCHEME for the May/June 2007 question paper 7110 PRINCIPLES OF ACCOUNTS 7110/02 Paper 2 (Structured), maximum raw mark 100 This
More informationMARK SCHEME for the October/November 2013 series 0452 ACCOUNTING. 0452/22 Paper 2, maximum raw mark 120
CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the October/November 2013 series 0452 ACCOUNTING 0452/22 Paper 2, maximum raw mark 120 This
More informationMIDTERM EXAMINATION MGT101- Financial Accounting (Session - 5) Time: 60 min Marks: 50
MIDTERM EXAMINATION MGT101- Financial Accounting (Session - 5) Time: 60 min Marks: 50 Question No: 1 ( Marks: 1 ) - Please choose one An accounting system is used by a business to: Analyze transactions
More information13. BRANCH ACCOUNTS SOLUTIONS TO ASSIGNMENT PROBLEMS
13. BRANCH ACCOUNTS SOLUTIONS TO ASSIGNMENT PROBLEMS PROBLEM No. 1 (A) Debtors Method: Delhi Branch Account 2010 Particulars Rs. Rs. 2010 Particulars Rs. Rs. Jan. 1 Dec.31 By Bank Stock 7,000 Cash Sales
More informationMatch the transactions in List A with the Books of Original Entry in List B. d) Purchases
CHAPTER 5 STRUCTURED QUESTIONS 1. Match the transactions in List A with the Books of Original Entry in List B LIST A LIST B 1. Sales on credit a) Petty cash 2. Purchases on credit b) Sales 3. Goods sold
More informationPrepared and solved by Cyberian www,vuaskari.com
Franchise rights, goodwill and patents are the examples of: Liquid assets Tangible assets Intangible assets Current assets Any expense that gives benefit for a period of less than twelve months is called.
More informationVCE VET FINANCIAL SERVICES
Victorian Certificate of Education 2012 SUPERVISOR TO ATTACH PROCESSING LABEL HERE STUDENT NUMBER Letter Figures Words VCE VET FINANCIAL SERVICES Written examination Thursday 22 November 2012 Reading time:
More informationSubsidiary Ledgers & Control Accounts. F. M. Kapepiso
Subsidiary Ledgers & Control Accounts F. M. Kapepiso The accounting cycle Transaction Source document Journal LEDGER Control a/cs Trial balance Financial statements Learning objectives At the end of the
More informationFINANCIAL ACCOUNTING 1
FINBUS2 NOVEMBER 2013 EXAMINATION DATE: 4 NOVEMBER 2013 TIME: 09H00 12H00 TOTAL: 100 MARKS DURATION: 3 HOURS PASS MARK: 40% (BUS-AC1) FINANCIAL ACCOUNTING 1 THIS EXAMINATION PAPER CONSISTS OF 2 SECTIONS:
More informationEMS / Accounting Teacher s Guide Grade 8 Authors: Yvette Russell Lisa Akerman Séan Topper
EMS / Accounting Teacher s Guide Grade 8 Authors: Yvette Russell Lisa Akerman Séan Topper www.studyingbusiness.co.za Studying Business Grade 8 Accounting 2012 Edition 3 rd Print Lisa Akerman Sean Topper
More informationACCOUNTING. Written examination 1. Tuesday 11 June 2002
ACCNT EXAM 1A Victorian Certificate of Education ACCOUNTING Written examination 1 Tuesday 11 June Reading time: 2.45 pm to 3.00 pm (15 minutes) Writing time: 3.00 pm to 4.30 pm (1 hour 30 minutes) QUESTION
More informationTHE TRAINING PLACE OF EXCELLENCE Control accounts, Journals & the Banking system Practice Assessment: Answers
THE TRAINING PLACE OF EXCELLENCE Control accounts, Journals & the Banking system Practice Assessment: Answers 1. (a) Wages expense 114,866 Wages control 114,866 (b) PAYE/ NI 23,349 Bank 23,349 (c) Wages
More informationMYOB Bookkeeping Practice Assessment B: Computerised (MYOB) Bookkeeping
1B MYOB Bookkeeping Assessment About the practice assessment MYOB Bookkeeping Practice Assessment B: Computerised (MYOB) Bookkeeping About the practice assessment What you will need Current version of
More informationTRIAL BALANCE. Samir K Mahajan
TRIAL BALANCE Samir K Mahajan TRIAL BALANCE: MEANING AND METHOD Trial balance is a statement which shows debit balances and credit balances of all accounts in the ledger. Since, every debit should have
More informationProfessor Vipin Conversion of Partnership into Company. Meaning
Meaning Conversion of Partnership into Company For various reasons, an existing partnership may sell its entire business to an existing Joint Stock Company. It can also convert itself into a Joint Stock
More informationFINANCIAL STATEMENTS OF SOLE PROPRIETORSHIP
CHAPTER-9 FINANCIAL STATEMENTS OF SOLE PROPRIETORSHIP Learning Objectives After studying this lesson you will be able to; State the nature of the financial statements; Distinguish between the capital and
More informationFINAL CA May 2018 Financial Reporting
FINAL CA May 2018 Financial Reporting Test Code F5 Branch: Andheri Date: 10.12.2017 (50 Marks) Note: All questions are compulsory. Question 1 (9 marks) Value Added Statement of Pradeep Ltd. for the period
More informationVictoria Restaurant. Cash Supplies Building June June June June Bal.
Balance Sheet Accounts Problems: Applications Exercise 1 (a) and (b) Page 40 and 5 (b) and (c) Page 42 Victoria Restaurant Cash Supplies Building June 1 6 400 June 2 1 080 June 1 12 000 June 1 200 000
More informationTHE PUBLIC ACCOUNTANTS EXAMINATION COUNCIL OF MALAWI 2009 EXAMINATIONS FOUNDATION STAGE PAPER 1: ACCOUNTING FRAMEWORK
Examination No. THE PUBLIC ACCOUNTANTS EXAMINATION COUNCIL OF MALAWI 2009 EXAMINATIONS FOUNDATION STAGE PAPER 1: ACCOUNTING FRAMEWOR MONDAY 7 DECEMBER 2009 TIME ALLOWED : 3 HOURS 9.00 AM - 12.00 NOON INSTRUCTIONS:
More informationSOLUTIONS TO ASSIGNMENT PROBLEMS. PROBLEM No. 1. Dec.31 By Bank Stock. 17,500 Debtors. Cash from Petty cash 26,000 8,200 9,400 63,400 16,400
SOLUTIONS TO ASSIGNMENT PROBLEMS PROBLEM No. 1 12. BRANCH ACCOUNTS (A) Debtors Method: Dr. Delhi Branch Account Cr. 2010 Particulars Rs. Rs. 2010 Particulars Rs. Rs. Jan. 1 Dec.31 By Bank Stock Cash Sales
More information1.1 List 2 current asset accounts. (2) 1.2 List 2 non-current asset accounts. (2) 1.3 List 2 expense accounts. (2) 1.4 List 2 income accounts.
QUESTION 1 - THEORY [10 MARKS] 1.1 List 2 current asset accounts. (2) 1.2 List 2 non-current asset accounts. (2) 1.3 List 2 expense accounts. (2) 1.4 List 2 income accounts. (2) 1.5 List 2 liability accounts.
More informationNATIONAL SENIOR CERTIFICATE GRADE 12
NATIONAL SENIOR CERTIFICATE GRADE 12 ACCOUNTING EXEMPLAR 2008 MARKS: 300 TIME: 3 hours This question paper consists of 18 pages and an answer book of 20 pages. Accounting 2 DoE/Exemplar 2008 INSTRUCTIONS
More informationPROFITS OR LOSS PRIOR TO INCORPORATION
CHAPTER 3 PROFITS OR LOSS PRIOR TO INCORPORATION Learning Objectives After studying this chapter, you will be able to: Account for pre-incorporation profit. Learn various methods for computing profit or
More informationOsborne Books Update. Final Accounts Preparation Tutorial. Amended pages 67 to 71 Case Study: ELECTROPARTS
Osborne Books Update Final Accounts Preparation Tutorial Amended pages 67 to 71 Case Study: ELECTROPARTS October 2018 a m e n d e d pa g e s 6 7 t o 7 1 C a s e s t u d y: e l e C t r o pa r t s The following
More informationSOLUTIONS TO EXERCISES SET B
SOLUTIONS TO EXERCISES SET B EXERCISE 2-1B 1. False. An account is an accounting record of a specific asset, liability, or stockholders equity item. 2. True. 3. False. Each asset, liability, and stockholders
More informationTuesday 6 December 2005 (afternoon) EXAMINATION. Time allowed - 3 hours plus 15 minutes reading time
NVQ/SVQ Level 2 in Accounting Preparing Ledger Balances and an Initial Trial Balance (PLB) (2003 standards) Tuesday 6 December 2005 (afternoon) EXAMINATION Time allowed - 3 hours plus 15 minutes reading
More informationThe Profit & Loss Account Accounting for Revenue & Expenses
The Profit & Loss Account Accounting for Revenue & Expenses Chapter 3 1 Luby & O Donoghue (2005) Profit & Loss Account The main reason why people set up in business is to make a profit. The profit and
More informationChapter 8. Recording Adjusting and Closing Entries
Chapter 8 Recording Adjusting and Closing Entries Adjusting Entries Adjusting Entries - journal entries recorded to update general ledger accounts at the end of a fiscal period (Supplies & Prepaid Insurance).
More informationNABTEB Past Questions and Answers - Uploaded online
QUESTION 1 NATIONAL BUSINESS AND TECHNICAL EXAMINATION BOARD NBC MAY/JUNE 2005 FINANCIAL ACCOUNTING (a) Differentiate between preference shares and ordinary shares of a company. (b) Explain the following
More informationGRADE 12 SEPTEMBER 2012 ACCOUNTING
Province of the EASTERN CAPE EDUCATION NATIONAL SENIOR CERTIFICATE GRADE 12 SEPTEMBER 2012 ACCOUNTING MARKS: 300 TIME: 3 hours This question paper consists of 17 pages. 2 ACCOUNTING (SEPTEMBER 2012) INSTRUCTIONS
More informationTRINITY TUTORIALS EXAM PACK AND STUDY NOTES
TRINITY TUTORIALS EXAM PACK AND STUDY NOTES THIS PACK CONSISTS OF PAST EXAM PAPERS FROM MAY 2009 NOVEMBER 2013 AND THEIR SUGGESTED SOLUTIONS PLUS NOTES WHICH WILL HELP THE STUDENT TO UNDERSTAND AND APPRECIATE
More informationAdjustments. Study Unit 6(B)
Adjustments Study Unit 6(B) Study Unit 6(B): Adjustments Deprecia8on Lecture 1 What is an deprecia8on? Fixed assets are purchased with the expecta
More information