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3 Acco Test ch3 MEMO

This document is a memo for an accounting test with instructions on how to complete the test, including the use of specific writing tools and the requirement to show all working clearly. It provides a series of ledger balances and examples of trial balances that students must prepare. The test includes various transactions and calculations related to business accounting.

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Uncledee Roberts
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13 views5 pages

3 Acco Test ch3 MEMO

This document is a memo for an accounting test with instructions on how to complete the test, including the use of specific writing tools and the requirement to show all working clearly. It provides a series of ledger balances and examples of trial balances that students must prepare. The test includes various transactions and calculations related to business accounting.

Uploaded by

Uncledee Roberts
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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NAME: MEMO

Accounting test (Chapter 3) July 2024


INSTUCTIONS
 Answer all questions on the question paper.
 Use a black or blue pen.
 Write the answer to each question in the space provided.
 Do not use an erasable pen or correction fluid.
 You must show all working neatly and clearly.

INFORMATION
 Time minutes
 The total mark for this paper is
 The number of marks for each question or part question is shown in brackets.

1.
1. You have been provided with a list of ledger balances and are required to set out the trial
balance for the business. A tip is to add up all the balances first and divide it by two. This will be
the total for each column you are looking for.

Capital 20,000 Receivables 1,100

Bank 10,000 Rent and Rates 12,000

Motor Expenses 4,300 Heat and Light Expenses 4,800

Sales 65,500 Loan from Bank 20,000

Closing Inventory 10,800 Purchases of stock 32,800

Office Expenses 2,200 Delivery Van 10,000

Wages Expenses 15,000 Office Furniture 5,000

Payables 2,500

Trial Balance

Folio Debit $ Credit $

[17]

1.
2.

Day 1: I start a business with 800 in my bank


Day 2: I spend cash and buy a computer for 300
Day 3: I get a 2 year loan from Loanfish bank for 1200

Bank
1 Capital 800 2 Computer 300
3 Loan 120 Balance 1700
0 c/d
200 2000
0
Balance b/d 170
0

Capital
1 bank 800

Computer
2 Bank 30
0

Loan
3 Bank 1200

(6)

Trial Balance
Debit (DR) Credit (CR)
Capital 800
Bank 1700
Computer 300
Loan 1200
2000 2000

(6)

[12]
3.
3.
Day 1: I start a business with 600 in my bank
Day 2: I get a 2 year loan from Loanfish bank for 1100
Day 3: I spend cash and buy a computer for 2000

Bank
1 Capital 600 3 Computer 2000
2 Loanfish bank 110
0
balance c/d 300
200 2000
0
balance 300
b/d

Capital
1 Bank 600

Computer
3 Bank 200
0

Loan
2 Bank 1100

(6)

Trial Balance
Capital 600
Bank 300
Computer 2000
Loanfish bank 1100

2000 2000

(6)

[12]
4.

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