Double Entry

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CAP1 FINANCIAL ACCOUNTING SESSION 1-5 DOUBLE ENTRY BOOKKEEPING QUESTIONS

CAP1 Financial Accounting, Academic Year 2011 / 2012 ver 1.0 © Chartered Accountants Ireland

CAP1 Financial Accounting, Academic Year 2011 / 2012 © Chartered Accountants Ireland

Contents

Double Entry General Questions
QUESTION 1- DOUBLE ENTRY................................................................................ 4 QUESTION 2 – DOUBLE ENTRY .............................................................................. 5 QUESTION 3 –DOUBLE ENTRY ............................................................................... 6 QUESTION 4 - DOUBLE ENTRY .............................................................................. 7 QUESTION 5 – CAPITAL v’S REVENUE EXPENDITURE ........................................ 8 QUESTION 6 – INVENTORY..................................................................................... 9 QUESTION 7 - BAD DEBTS AND BED DEBT PROVISIONS ................................... 9 QUESTION 8 - ACCRUALS/PREPAYMENTS ......................................................... 10 QUESTION 9 - NON CURRENT ASSETS ............................................................... 10 QUESTION 10 – VAT............................................................................................... 11 QUESTION 11 - WAGES AND SALARIES .............................................................. 12 OTHER RELAVANT QUESTIONS SUMMER 2008 Q2 - REID (BAD DEBTS AND BAD DEBT PROVISIONS)

Control Accounts and Bank Reconciliations
QUESTION 1 - CONTROL ACCOUNT RECONCILIATIONS .................................. 13 QUESTION 2 – MURRAY (CONTROL ACCOUNTS) PILOT PAPER Q2 ................ 14 QUESTION 3 – BROWN (CONTROL ACCOUNTS) ................................................ 15 QUESTION 4 – SPANNER (BANK RECONCILIATION) .......................................... 16 QUESTION 5 - DARCY (BANK RECONCILIATION) AUTUMN 2008 Q2 ................ 17 QUESTION 6 – PAPER PRODUCTS (BANK RECONCILIATION) .......................... 18 OTHER RELAVANT QUESTIONS SUMMER 2011 Q6 - RAYMOND (BANK RECONCILIATION) AUTUMN 2010 Q6 - FITZ LTD (CONTROL ACCOUNT RECONCILIATION) AUTUMN 2009 Q6 - CARROLL (CONTROL ACCOUNT RECONCILIATION)

Suspense Accounts/Trial Balance Corrections
QUESTION 1- TRIAL BALANCE ............................................................................. 20 QUESTION 2 – DALY – SUMMER 2009 Q6............................................................ 21 QUESTION 3– COX &Co. ........................................................................................ 22 QUESTION 4 – MARTIN - SUMMER 2008 Q7 ........................................................ 24 QUESTION 5 – HARPER - AUTUMN 2007 Q1 ....................................................... 25 QUESTION 6 – JONES 1......................................................................................... 28 QUESTION 7 – JONES 2......................................................................................... 29 QUESTION 8 - DOYLE ............................................................................................ 30 OTHER RELAVANT QUESTIONS SUMMER 2010 Q2 - PETRA (SUSPENSE ACCOUNTS)

CAP1 Financial Accounting, Academic Year 2011 / 2012 © Chartered Accountants Ireland

DOUBLE ENTRY GENERAL QUESTIONS

QUESTION 1- DOUBLE ENTRY
You are required to open the asset and liability and capital accounts and record the following transactions for June 19x4 in the records of C. Williams

June 1 June 2

Started business with €/£2,000 in cash Paid €/£1,800 of the opening cash into a bank a/c for the business Bought office furniture on credit from Betta Built for €/£E120 Bought a motor van paying by cheque €/£950 Bought works machinery from Evans on credit €/£560 Returned faulty office furniture costing €/£62 to Betta Built Sold some of the works machinery for €/£75 cash Paid amount owing to Betta Built €/£58 by cheque Took €/£100 out of the bank and put it in the...
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