17 Exam-standard Questions-Chp6
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Exam-standard Questions Chapter6
The following information is relevant for Q1 & Q2 On 1 May 20X9 Marshall's cash book showed a cash balance of
$224 and an overdraft of $336. During the week ended 6 May the
following transactions took place.
May 1 Sold $160 of goods to P Dixon on credit.
May 1 Withdrew $50 of cash from the bank for business use.
May 2 Purchased goods from A Clarke on credit for $380 less
15% trade discount.
May 2 Repaid a debt of $120 owing to R Hill, taking
advantage of a 10% cash discount. The payment was
by cheque.
May 3 Sold $45 of goods for cash.
The following information is relevant for Q1 & Q2 May 4 Sold $80 of goods to M Maguire on credit, offering a
121/2% discount if payment made within 7 days.
May 4 Paid a telephone bill of $210 by cheque.
May 4 Purchased $400 of goods on credit from D Daley.
May 5 Received a cheque from H Larkin for $180. Larkin has
taken advantage of a $20 cash discount offered to him.
May 5 Sold $304 of goods to M Donald on credit.
May 5 Purchased $135 of goods from Honour Co by cheque.
May 6 Received a cheque from D Randle for $482.
May 6 Purchased $100 of goods on credit from G Perkins.
Q1
What is the total of the sales day book?
A.$544
B.$589
C.$534
D.$579
Q2
What is the total of the purchases day book?
A.$880
B.$823
C.$1,033
D.$958
Q3
Bert has extracted the following list of balances from his general ledger at 31 October 20X5:
$
Sales 258,542
Opening inventory 9,649
Purchases 142,958
Expenses 34,835
Non-current assets (carrying amount) 63,960 Receivables 31,746
Payables 13,864
Cash at bank 1,783
Capital 12,525
Q3
Bert has extracted the following list of balances from his general ledger at 31 October 20X5:
$
Sales 258,542
Opening inventory 9,649
Purchases 142,958
Expenses 34,835
Non-current assets (carrying amount) 63,960 Receivables 31,746
Payables 13,864
Cash at bank 1,783
Capital 12,525
Q3
What is the total of the debit balances in Bert's trial balance at 31 October 20X5?
A.$267,049
B.$275,282
C.$283,148
D.$284,931
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