ACCOUNTING 2:
Partnership and Corporation
Accounting
Module Test I
Name: DLC: Score:
I. Identification.
1. A written authorization prepared for each expenditure in a in a voucher
system.
2. A multi-column journal used in a voucher system to record each cash
payment.
3. A documentary evidence for business transactions which requires cash
payments immediately or in the future.
4. A multi-column journal in which vouchers are recorded after they have
been properly approved.
5. A ledger account that replaces Accounts Payable controlling account
when a voucher system is used.
6. Book of original entry in a Voucher System that replaces the Purchase
Journal.
7. A file of vouchers which are to be paid in the future.
8. One of the advantages of using a voucher system.
9. When payments are made, the two items entered in the paid columns of
the Voucher Register.
10.
II.
The Abad Santos Trading Co. installed a voucher system on April 1, 2012 as part of
its program to strengthen control over cash payments. The following accounts payable
for merchandise were closed and individually vouchered (start with Voucher No. 10).
Amou Voucher
Dat Credito nt Outstanding
e r Term Number
s
Mar. 15 Juana Sandoval 1/20, n/60 P14,000 10
20 Edgar 2/10,1/15,n/ 10,000 11
Rodriguez 60
28 Armida n/30 30,000 12
Trading P54,000
Accounting 2 – Partnership and Corporation Accounting
11
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During the month of April 2012, vouchers were prepared and check were issued for
the following transactions:
April 2 Received goods from Marikina Fish Co. P7,000. Invoice No. 1111.
Terms: 1/10, n/30 (Voucher No. 13).
Accounting 2 – Partnership and Corporation Accounting
12
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3 Bought office table from Pacific Office Machines P6,000,
Invoice No. 2022, Terms n/60 (Voucher No. 14).
4 Purchased merchandise from Derby goods, Inc. P19,000,
Invoice No. 3712. Terms P9,000 down payment per check no.
099, balance in 30 days (voucher 15 and 16).
4 Issued check no. 100 to Juana Sandoval in payment of voucher
no. 10.
5 Freight bill on office table bought from Pacific Office Machine
was paid to LBC rucking P500, Invoice No. 1619. (Voucher no.
17 and check no. 101).
7 Paid monthly rental of P10,000 to RST Realty, Invoice No.
1948. (Voucher no. 18 and check no. 102).
8 Cash purchases of merchandise P12,000 from ABC Co.,
Invoice No. 1738. (Voucher no. 19 and check no. 103).
10 Purchased office supplies from Alemar’s with an invoice price of
P2,000 less 2% trade discount per Invoice No. 1979. (Voucher
number 20 and check no. 104).
15 Prepared voucher no. 21 for payroll of P50,000 less P5,000 with holding
tax and issued check no. 105 in payment thereof
18 Bought merchandise from Steel Enterprises, Invoice no. 7832
for P10,000 Terms 1/20, n/60. (Voucher No. 22)
19 Freight bill on the above was paid to BCD Delivery Service
P800 per Invoice No. 7699. (Voucher no. 23 and check no.
106)
20 Bought office chairs from Pacific Office Machines P3,000 less
2% trade discount Terms n/30 per Invoice No. 2333. (Voucher
No. 24)
25 Bought office supplies from National Bookstore P5,000.
Invoice No. 9988. Terms 1/10, n/60 (Voucher No. 25).
26 Returned defective office supplies to National Bookstore
P500 (cancel voucher no.25 and prepare voucher no.26)
30 Prepared voucher no. 27 for payroll of P50,000 less SSS premium payable
of P1,500 and issued check no. 107.
Required:
1. Record the above transactions in the voucher register providing columnar headings
for Vouchers Payable, CR; Purchases, DR; Office Furniture DR; Office Supplies,
DR; Sundry, DR and CR in the check register.
2. Add the columns of the voucher register and check register and post to T –accounts.
3. Prepare a schedule of vouchers payable.
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4. Prepare a T-account for Vouchers Payable and post all transactions affecting this
account . Determine the balance. The balance must equal to the total of the
schedule of Vouchers Payable.
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