CIE Accounting Paper-1: Specimen Questions 86 - 87 of 214

Passage

The following balances were taken from the books of Hason, a sole trader, at 30 April 2015. $

Revenue through rent 210 000

Purchases 75 000

Stock 1 May 2014 11 500

Bills receivables 2 300

Bills payables 2 900

Machinery 8 400

Office expenses 30 600

Bank (overdraft) 4 100

Capital 12 500

Drawings 6 600

Hason’s inventory at 30 April 2015 was $20 100.

Question number: 86 (2 of 2 Based on Passage) Show Passage

Short Answer Question▾

Write in Short

Complete the following trial balance for Hason at 30 April 2015.

Trial Balance of Hason as on 30th April 2015

Finding a DR and CR value to the table

Shows given table in DR and CR

DR

$

CR

$

Stock 1 May 2014

Bills receivables

Bills payables

Machinery

Office expenses

Bank (overdraft)

Capital

Drawings

Revenue through rent

Purchases

Suspense account

Explanation

The total balance of trial balance is $229500

inseart in to DR and CR value to the table

Shows given table in DR and CR

DR

$

CR

$

Stock 1 May 2014

11 500

Bills receivables

2 300

Bills payables

2 900

Machinery

8 400

Office expenses

30 600

Bank (overdraft)

4 100

Capital

12 500

Drawings

6 600

Revenue through rent

210000

Purchases

75000

Suspense account

95100

229500

229500

Question number: 87

Short Answer Question▾

Write in Short

In the table below, place a tick (√) under the correct heading to show how the monthly total in the purchase returns journal should be posted in the nominal (general) ledger.

General ledger posting for purchase returns journal

Show given table in Purchase returns account

Debit entry

Credit entry

Purchase returns account

Explanation

General ledger posting for purchase returns journal.

Show given table in Purchase returns account

Debit entry

Credit entry

Purchase returns account

Goods returned by the customer to the supplier when goods are purchased on credit are entered in this book. The periodical totaling of this book will took place at the end of every month by the firm. Debit note is important source of document while recording purchase return to the supplier.

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