Accounting Test Question No 2: In Douglas’s book, the following May 2007 are recorded. You are required to extract a Trial Balance as at 31 May 2007. May 1. Started business with $600 in the bank 2. Bought $500 goods on credit from Supplier A 3. Credit sales : X-$20 Y-$80 Z-$100 5. Cash Sales [...]
Continue reading about Accounting Test Question No.2 On Trial Balance
Accounting Test Question No 1: Write up the asset and liability accounts to record the following transactions of Mr A and extract a Trial Balance as at 30 June 2007: June 1. Started business with $3,500 in the bank 3. Bought office machinery by cheque $250 4. Bought furniture $350 on credit from Supplier XYZ [...]
Continue reading about Accounting Test Question No.1 On Trial Balance
The following is the unadjusted accounts of ABC Co as at 31 December 2006 : Account $ Cash 23,500 Account receivables 11,500 Office supplies 4,300 Prepaid insurance 6,000 Office equipment 60,000 Accumulated depreciation-office equipment 18,000 Accounts Payable 5,530 Notes Payable 15,000 Unearned revenue [...]
Continue reading about Accounting Test Question No 2 On Adjusted Trial Balance
The following is the unadjusted accounts of ABC Co as at 31 December 2006 : Account $ Account receivables 65,450 Office supplies 5,400 Prepaid utilities 10,860 Prepaid insurance 8,400 Office equipment 14,680 Accumulated depreciation-office equipment 4,400 Unearned revenue 29,850 Capital 77,800 Service revenue 40,680 Salaries expense 18,000 Miscellaneous [...]
Continue reading about Accounting Test Question No 1 on Adjusted Trial Balance
Recent Comments