Oiener

In: Novels

Submitted By englishstudent
Words 1160
Pages 5
2011

ACCOUNTING
Written examination 1

Number of questions

Number of questions to be answered

Number of marks

2

2

90

$

$

Date 2011 9 600 2 000

Date 2011 8 000 12 000 1 200

Total

Date 2011 600 6 200 1 800 600

Date 2011

not Total

5

2011 ACCNT EXAM 1A

Fantastic Footwear sent the following Statement of Account to one of its debtors, Jets Little Aths. Fantastic Footwear STATEMENT OF ACCOUNT To: Jets Little Aths 30 June 2011 Debit 1 June 11 June 19 June 24 June 27 June 30 June Balance Payment received – Rec. No. 601 Inv. No. 59 Inv. No. 64 Payment received/disc – Rec. No. 623 Balance owing 2 200 990 2 200 3 200 Credit Balance 3 200 Dr Nil 2 200 Dr 3 190 Dr 990 Dr $990

1.2.3 Show how Jets Little Aths’ account in the Debtors Subsidiary Ledger would appear at 30 June after all June transactions have been posted. You are not required to balance the account. 3 marks The GST Clearing account had a debit balance of $1 250 at 31 May 2011. Required 1.2.4 Show the GST Clearing account as it would appear in the General Ledger at 30 June 2011. You are not required to balance the account. 4 marks 1.2.5 Explain why it would be necessary to make a balance day adjustment at 30 June as a result of the information provided on 26 June relating to rent. 2 marks 1.2.6 Show how the rent would be reported at 30 June after all adjusting entries had been recorded. 3 marks

Question 1 – continued TURN OVER

Date 2011

IN $ Total $

OUT $ Total $ $ Total $

Fantastic Footwear Memo 43 One pair of Tiger Tearaway shoes taken from stock for personal use. T Trimble

Fantastic Footwear Memo 44 The stocktake shows 9 pairs of Tiger Tearaway shoes remaining in stock. T Trimble

not

2011 ACCNT EXAM 1A

8

Question 2 Bubble Baths Barry Billings commenced business on 1 January 2011 under the name of Bubble Baths. The business…...

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