1.

Complete the columns to show the effects of the following transactions:

Effect upon
Assets Liabilities Capital
a. We pay creditor $310 by cheque
b. Bought fixtures $175 paying in cash
c. Bought goods on time $630
d. The proprietor introduces another $1.200 cash into the
business
e. J. Walker lends the business $2.500 in cash
f. A debtor pays us $50 in cash
g. We return goods costing $90 to a supplier whose bill we had
not paid
h. Bought an office computer paying $610 by cheque

2. Complete the columns to show the effects of the following transactions:

Effect upon
Assets Liabilities Capital
a. Bought a van on time $8.700
b. Repaid by cash a loan owned to F.Duff $10.000
c. Bought goods for $1.400 paying by cheque
d. The owner puts a further $4.000 cash into the business
e. A debtor returns to us goods worth $150. We agree to make
an allowance for them.
f. Bought goods on time $760
g. The owner takes out $200 cash for his personal use.
h. We pay creditor $1.150 by cheque

3.Complete the following table:

Account to Account to
be debit be credit
1. Bought laptop computer on time from Timeless Ltd.
2. The proprietor paid a creditor, B. Burt, from his private funds.
3. A debtor, T.Robb, paid us by cheque.
4. Repaid part of loan from I.Simms in cash.
5. Returned the computer to Timeless Ltd.
6. A debtor, P.Bell, paus us by cheque
7. Bought van on time from Tangle Motors.

4.Complete the following table:

Account to Account to
be debit be credit
a) Bought trailer for cash
 b) Paid creditor, J.Tough, by cheque
c) Repaid W.Small;s loan by cash
d) Sold trailer for cash
e) Bought office equipment on time from Dexter Ltd. It will be paid
later
f) A debtor, T.Walls, pays us by cash.
g) A debtor, L.Tait, pays us by cheque
h) Proprietor puts a further amount into the business by cheque
i) A loan of $650 in cash is received from F.Burns.
j) Paid a creditor, J.Fife, by cash.

5. Write up the asset, liability and capital accounts to record the following transactions in the records of
B.Spector’s business:

July 1 Started business by putting $15.000 of his own money into a business bank account
2 Bought office furniture by Internet transfer from bank account $2.800
3 Bought computer equipment $1.260 on time from TVC Ltd
5 Bought a car paying by cheque $4.950
8 Sold some of the office furniture – original cost $750 – for $750 on time to Jevons Co
15 Paid the amount owing to TVC Ltd $1.260 by Internet transfer from bank account
23 Received the amount due from Jevons Co $750 by cheque
31 Bough machinery using the business’s debit card $710

6. Write up the asset, liability and capital accounts to record the following transactions for June in the
records of P.Bernard:

June 1 Started business with $17.500 in cash

2 Paid $9.400 of opening cash into a bank account for the business
5 Bought office furniture on time from Dream Ltd for $2.100
8 Bought a van paying by Internet transfer from the bank account $5.250
12 Bought equipment from Pearce & Son on time $2.300
18 Returned faulty office furniture costing $260 to Dream Ltd.
25 Sold some of the equipment for $200 cash (its original cost)
26 Paid amount owing to Dream Ltd $1.840 by Internet transfer from the bank account
28 Took $130 out of the bank and added to cash
30 F.Brown lent us $4.000 – sending us the money by Internet transfer.

7. Write up the asset, liability and capital accounts in the books of D.Gough to record the following
transactions:

June 1 Stated bisomess wotj $16.000 in the bank

2 Bought van paying by cheque $6.400.
5 Bought office fixtures $900 on time from Old Ltd
8 Bought van on time from Carton Cards Ltd $7.100
12 Took $180 out of the bank and put it into the cash till.
 15 Bought office fixtures paying by cash $120
19 Paid Carton Cars Ltd by Internet transfer from the bank account
21 A loan of $500 cash is received from B.Berry
25 Paid $400 of the cash in hand into the bank account
30 Bought more office fixtures paying with the business debit card $480

8. Write up the accounts to record the following transactions:

May 1 Started business with $1.500 cash and $18.000 in bank

2 Received a loan of $4.000 from T.Fox by cheque
3 Bought a computer for cash $1.200
5 Bought display stands on time from Drop Ltd $840
8 Took $400 out of the bank and put it in the cash till.
15 Repaid part of Fox’s Loan using the business debit card $1.000
17 Paid amount owing to Drop Ltd $840 by Internet transfer from the bank account
24 Repaid part of Fox’s loan by cash $500
31 Bought a colour laser printer on time from P.Blake for $400.

Inventory

1.Complete the following table:

Account to Account to
be debit be credit
a. Goods sold for cash
b. Vehicles bought on time from F. Smith
c. Computer sold for cash
d. Goods sold on time to J. Lilly
e. Goods purchased by us returned to supplier, M. Peel
f. Goods bought on time from F.Day
g. Goods sold, a cheque being received immediately
h. Gods we returned to W. Brown
i. Goods sold returned to us by customer, I. Gray
j. Goods bought on time from T. Gow

2.Complete the following table:

Account to Account to
be debit be credit
a. Goods bought on time from B. Cowan
b. Goods returned to us by L. Keith
c. Filing cabinets returned to C. Riddle Ltd.
d. Goods bought for cash
e. Lorry bought on time from M. Davis Ltd
f. Goods returned by us to J. Hicks.
g. N. Peters paid us his account by cheque
 h. Goods bought by cheque
i. We paid creditor, F.Toms, by cheque.
j. Good sold on time to S. Mulligan

3. You are to write up the following in the books:

July 1 Started in business with $3.800 cash.

3 Bought goods for cash $480.
7 Bought goods on time $1.200 from J.Gill
10 Sold goods for cash $172
14 Returned goods to J.Gill $240
18 Bought goods on time $1.460 from F.Genesis
21 Returned goods to F.Genesis $104
24 Sold goods to A. Prince $292 on time
25 Paid J.Gill’s account by cash $960
31 A. Prince paid us his account in cash $292

1; 6; 5; 6; 4: 5 điểm

1; 6: 2 điểm

4. Enter the following transactions in the appropriate accounts:

Aug 1 Started in business with $7.400 cash.

2 Paid $7.000 of the opening cash into the bank
4 Bought goods on time $410 from J.Watson
5 Bought a van by cheque $4.920
7 Bought goods for cash $362
10 Sold goods on time $218 to L.Less
12 Returned goods to J.Watson $42
19 Sold goods for cash $54
22 Bought fixtures on time from Firelighters Ltd $820
24 F.Holmes lent us $1.500 paying us the money by cheque
29 We Paid J.Watson his account by cheque $368
31 We paid Firelighters Ltd by cheque $820

5. Enter the following transactions in the accounts of L.Linda:

July 1 Started in business with $20.000 in the bank

2 D.Rupert lent us $5.000 in cash
3 Bought goods on time from B.Brown $1.530 and I.Jess $4.162
4 Sold goods for cash $1.910
6 Took $200 of the cash and paid it into the bank
8 Sold goods on time to H.Rise $1.530
10 Sold goods on time to P.Taylor $341
11 Bought goods on time From B.Brown $560.
 12 H.Rise returned goods to us $65
14 Sold goods on time to G.Far, $535 and R.Sim $363
15 We returned goods to B.Brown by cheque $94
17 Bought van on time from Aberdeen Cards Ltd $9.100
18 Bought office furniture on time from J.Winter Ltd $1.800
19 We returned goods to I.Jess $130
20 Bought goods for cash $770
24 Goods sold for cash $110
25 Paid money owing to B.Brown by cheque $1.924
26 Goods returned to us by G.Farm $34
27 Returned some of office furniture costing $180 to J.Winter Ltd
28 L.Linda put a further $2.500 into the business in the form of cash
29 Paid Aberdeen Cars Ltd $9.100 by cheque
31 Bought office furniture for cash $365

C4: Revenue and Expense

1. Write up the following transaction in the books for the month ended August:

August 1 Started in business with $3.100 in the bank and $4.000 in cash
2 Purchased goods $1.160 on time from A.Cliff
3 Bought fixtures and fittings $4.600 paying by cheque
5 Sold goods for cash $600
6 Bought goods on time $1.300 from S.Bell
10 Paid rent by cash $600
12 Bought stationery $180, paying in cash
18 Goods returned to A.Cliff $164
21 Received rent of $480 by cheque for sublet of corner space
23 Sold goods on time to R.Coat for $3.200
24 Bought a van paying by cheque $16.400
30 Paid the month’s wages by cash $1.220

2. Write up the following transactions in the books of J.Dunn:

May 1 Started in business with cash $30.000

2 Bought goods on time from T.Lamb $700
3 Paid rent by cash $1.740
4 Paid $25.000 of the cash of the business into a business bank account
5 Sold goods on time to R.Still $384
7 Bought stationery $170 paying by cheque
11 Cash sales $624
14 Goods returned by us to T.Lamb $80
17 Sold goods on time to R.Davis $424
20 Paid for repairs to the building by cash $156
22 R.Still returned goods to us $62
27 Paid T.Lamb by cheque $7.000
 28 Cash purchases $940
29 Bought a van paying by cheque $7.000
30 Paid motor expenses in cash $432
31 Bought a computer $1.460 on time from S.Tims

3. Recording the following transactions:

July 1 Started in business with $5.000 in the bank and $1.000 cash
2 Bought stationery by cheque $75
3 Bought goods on time from T.Smart $2.100
4 Sold goods for cash $340
5 Paid insurance by cash $290
7 Bought a computer on time from J.Hott $700
8 Paid electricity by cheque $32
10 Sold goods on time to C.Biggins $630
11 Returned goods to T.Smart $550
14 Paid wages by cash $210
17 Paid rent by cheque $225
20 Received cheque $400 from C.Biggins
21 Paid J.Hott by cheque $700
23 Bought stationery on time from News Ltd $125
25 Sold goods on time to F.Tank $645
31 Paid News Ltd by cheque $125