Essay on Invoice and Purchases Ledger Control

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Accounting Qualification

Practice Assessment
Basic Accounting I (Level 2)
Questions

The Association of Accounting Technicians
April 2010

Basic Accounting I – Sample Assessment

Time allowance: 2 hours

Section 1

Task 1.1

The following transactions all took place on 30 June and have been entered into the sales day book as shown below. No entries have yet been made into the ledger system.

Date 20XX | Details | Invoice number | Total £ | VAT @ 17.5% £ | Net £ | 30 Jun30 Jun30 Jun30 Jun | West and WebbKelly and CoBradley DelightsBurgess Wholesale | 1600160116021603 | 94001128038547191 | 140016805741071 | 8000960032806120 | | Totals | | 31725 | 4725 | 27000 |

(a) What will be the entries in the subsidiary (sales) ledger?

Select your account name from the following list: Bradley Delights, Burgess Wholesale, Kelly and Co, Purchases, Purchases ledger control, Purchases returns, Sales, Sales ledger control, Sales returns, VAT, West and Webb

Account name | Amount £ | Debit | Credit | | | | | | | | | | | | | | | | |

(b) What will be the entries in the main ledger?

Select your account name from the following list: Purchases ledger control, Sales, Sales ledger control, Sales returns, VAT

Account name | Amount £ | Debit | Credit | | | | | | | | | | | | |

Task 1.2

The following credit transactions all took place on 30 June and have been entered into the purchases returns day-book as shown below. No entries have yet been made in the ledgers.

Purchases returns day-book Date 20XX | Details | Credit note number | Total £ | VAT £ | Net £ | 30 June | Hanover Ltd | 1499 | 2,115 | 315 | 1,800 | 30 June | Lawson Ltd | PO1098 | 470 | 70 | 400 | | Totals | | 2,585 | 385 | 2,200 |

(a) What will be the entries in the purchases ledger?

Purchases ledger Account name | Amount £ | Debit | Credit | | | | | | | | |

Select your account name from the following list: Hanover Ltd, Lawson Ltd, Net, Purchases, Purchases ledger control, Purchases returns, Sales, Sales ledger control, Sales returns, Total, VAT

(b) What will be the entries in the general ledger?

General ledger Account name | Amount £ | Debit | Credit | | | | | | | | | | | | |

Select your account name from the following list: Hanover Ltd, Lawson Ltd, Net, Purchases, Purchases ledger control, Purchases returns, Sales, Sales ledger control, Sales returns, Total, VAT

Task 1.3

The following transactions all took place on 30 June and have been entered in the debit side of the cash-book as shown below. No entries have yet been made in the ledgers.
Cash-book – Debit side Date 20XX | Details | Discounts £ | Bank £ | 30 Jun30 Jun | Balance b/fRBL Ltd | 150 | 5,2366,000 |

(a) What will be the TWO entries in the sales ledger?

Sales ledger Account name | Amount £ | Debit | Credit | | | | | | | | |

Select your account name from the following list: Balance b/f, Bank, Discounts allowed, Discounts received, Purchases ledger control, RBL Ltd, Sales ledger control

(b) What will be the THREE entries in the general ledger?

General ledger Account name | Amount £ | Debit | Credit | | | | | | | | | | | | |

Select your account name from the following list: Balance b/f, Bank, Discounts allowed, Discounts received,
Purchases ledger control, RBL Ltd, Sales ledger control

The following transactions all took place on 30 June and have been entered in the credit side of the cash-book as shown below. No entries have yet been made in the ledgers.
Cash-book – Credit side

Date 20XX | Details | VAT £ | Bank £ | 30 Jun30 Jun | Office expensesInsurance | 14 | 94400 |

(c) What will be the entries in the general ledger?

General ledger Account name | Amount £ | Debit | Credit | | | | | | | | | | | | |

Select your
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