u06l1 - questions
DESCRIPTION
Questions for grade 10 accounting course.TRANSCRIPT
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Posting Practice Questions
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1. Complete the balance column by calculating and entering the balance after each entry. Be sure to indicate each time whether the balance is a debit or credit.
Account: Bank Debit Credit DR/CR Balance 1 500 00
800 00 2 400 00
450 00 800 00
1 150 00 625 00
125 00
Account: Credit Card (Liability) Debit Credit DR/CR Balance
1 000 00 500 00
750 00 250 00
1 000 00 850 00
950 00 550 00
2. The journal and ledger for C. Fries appear on the following pages. Post the journal entries to
the ledger accounts. When this is completed, take off a trial balance to ensure that your work is accurate.
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Posting Practice Questions
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PARTICULARS P.R. DEBIT CREDIT 20__
Jan 4Revenue 700.00 HST Payable 91.00
Cash Sale
7 Wages Expense 1,500.00 Bank 1,500.00
Wages for week.
10 Bank 370.00 A/R – P. Berry 370.00
Received on account
15 Supplies 1,100.00 HST Recoverable 143.00
A/P – General Supply Co. 1,243.00 Paper products
21 A/R – P. Berry 565.00 Revenue 500.00 HST Payable 65.00
Sale on account.
25 C. Fries, Drawings 800.00 Bank 800.00
For personal use.
30 General Expense 240.00 HST Recoverable 31.20
Bank 271.20 Materials used.
PAGE: 40 GENERAL JOURNAL
Bank
DATE
791.00
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Posting Practice Questions
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Account: Bank No. 105 Particulars P.R. Debit Credit DR/CR Balance
20__Dec. 31 Forwarded DR 1,900.00
Account: A/R – P. Berry No. 110 Particulars P.R. Debit Credit DR/CR Balance
20__Dec. 31 Forwarded DR 370.00
Account: Supplies No. 115 Particulars P.R. Debit Credit DR/CR Balance
20__Dec. 31 Forwarded DR 1,420.00
Account: Equipment No. 120 Particulars P.R. Debit Credit DR/CR Balance
20__Dec. 31 Forwarded DR 9,075.00
General Ledger
Date
General Ledger
Date
General Ledger
Date
General Ledger
Date
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Posting Practice Questions
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Account: A/P – General Supply Company No. 205 Particulars P.R. Debit Credit DR/CR Balance
20__Dec. 31 Forwarded CR 2,030.00
Account: HST Payable No. 210 Particulars P.R. Debit Credit DR/CR Balance
20__Dec. 31 Forwarded CR 225.00
Account: HST Recoverable No. 215 Particulars P.R. Debit Credit DR/CR Balance
20__Dec. 31 Forwarded DR 75.00
Account: C. Fries, Capital No. 305 Particulars P.R. Debit Credit DR/CR Balance
20__Dec. 31 Forwarded 10,585.00
Account: C. Fries, Drawings No. 310 Particulars P.R. Debit Credit DR/CR Balance
General Ledger
Date
General Ledger
Date
General Ledger
Date
General Ledger
Date
General Ledger
Date
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Posting Practice Questions
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Account: Revenue No. 400 Particulars P.R. Debit Credit DR/CR Balance
Account: General Expense No. 500 Particulars P.R. Debit Credit DR/CR Balance
Account: Wages Expense No. 505 Particulars P.R. Debit Credit DR/CR Balance
General Ledger
Date
General Ledger
Date
General Ledger
Date
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Posting Practice Questions
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Accounts Debit Credit
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Posting Practice Questions
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3. The Bank account page shown below is filled. Forward the balance to a new account page. ACCOUNT Bank No. 100
ACCOUNT No.
Date Particulars P.R. Debit Credit DR/CR Balance
Date Particulars P.R. Debit Credit DR/CR Balance
2005 July 1 J1 1 900 -- DR 1 900 --
7 J1 1 900 -- DR 3 800 --
13 J1 500 -- DR 3 300 --
19 J2 275 -- DR 3 025
21 J2 50 -- DR 2 975
25 J2 75 -- DR 2 900
27 J3 1 000 -- DR 3 900
29 J3 100 -- DR 3 800