Testbank to accompany
Accounting 8th Edition by John Hoggett, Lew Edwards, John Medlin, Matthew Tilling Tilling & Evelyn Hogg
Prepared by
Barbara Burns
Testbank to accompany Accounting 8e
© John iley & !ons "ustralia, Ltd #$%%
© John iley and !ons "ustralia, Ltd #$%#
'#
Chapter 7: Accounting for Systems
Chapter 7: Accounting for Systems Multiple Choice
%' How many many o( these these are important important considerations considerations when when developing developing a new new accounting accounting system or e)panding an e)isting system* i' +omp +ompat atib ibil ilit ity y wit with h the the type type o( busi busine ness ss ii' ii' le)i le)ibi bili litty-ad y-adap apta tabi bili lity ty iii' iii' "de.u de.uac acy y o( o( bui built lt/i /in n con contr trol olss a' $ b' % c' # d' 0 "1!E2 3 !ection '#
#' 4nterna 4nternall control control is de(ined de(ined to include include which which o( the (ollow (ollowing* ing* a' 5reparation o( accounting reports b' Measures Measures to encourage encourage compliance compliance with with business business policies policies c' 6se o( the dou double entry acc account unting syste stem d' The eliminat nation o( cash de(i de(ici cien enccies "1!E2 B !ection '0
0' The assignmen assignmentt o( tas7s so that the the wor7 o( one employee employee acts acts as a chec7 chec7 on the the wor7 o( another is 7nown as8 a' 3ivision o( o( re responsibility b' !a(e7eeping !a(e7eeping c' "dministrative co control d' +ollusion "1!E2 " !ection '0
9' The state statemen mentt about about control control accou accounts nts that that is not correct correct is8 is8 a' They provide summarised data b' They (ollow (ollow the the normal normal rules rules o( debit debit and credit c' They ap appear in in th the su subsidiary le ledger d' They ap appear in in th the tr trial ba balance "1!E2 + !ection ':
'0
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Testbank to accompany Accounting 8e
:' ; +ompany +ompany uses uses a subsidiary subsidiary ledger ledger and control account account system system (or its accounts accounts receivable' "t the end o( the accounting period a listing o( customers< accounts is prepared (rom the subsidiary subs idiary ledger' The purpose o( this listing is to8 a' urn urnis ish h the the amou amount nt that that sho shoul uld d be be pos poste ted d to to the the accou accounts nts recei receivab vable le contr control ol account b' 3etermine 3etermine whether whether the debits debits e.ual e.ual the credits credits in the the subsidiary subsidiary ledger ledger c' 5rov 5rovee tha thatt the the subs subsid idia iary ry ledg ledger er agre agrees es with with the the con contr trol ol acco accoun untt d' 5rov 5rovid idee in( in(or orma mati tion on nec neces essa sary ry (or (or tri trial al bala balanc ncee prep prepar arat atio ion n "1!E2 + !ection ':
=' a' b' c' d'
hich hich o( these these is the main main advanta advantage ge o( setting setting up specia speciall >ournals >ournals88 They They can be used used with with a cash accounti accounting ng system system They remove the re.uirement (or double entry recording reco rding They They reduce reduce the the time time ta7en ta7en to post post to to the gener general al ledger ledger They They ma7e ma7e ta7ing ta7ing out a trial trial balance balance easier easier
"1!E2 + !ection '=
' or which which o( the the (ollowing (ollowing would would a subsidiary subsidiary ledger ledger and control control account account system system not normally be used* a' 5lant and e.uipment b' "ccounts "ccounts receivable receivable c' 4nventory d' 2ecording cash "1!E2 3 !ection ':
?' How many many o( these these are advantage advantagess o( using a subsidiary subsidiary ledger ledger and control control account account system* 2emoval o( a mass o( detail (rom the general ledger 3ivision o( labour between the general and subsidiary ledgers 4mproved internal control a' $ b' % c' # d' 0
"1!E2 3 !ection ':
© John iley and !ons "ustralia, Ltd #$%#
'9
Chapter 7: Accounting for Systems
@' 3etails 3etails o( amounts amounts owed to individual individual suppliers suppliers are (ound in the8 the8 a' "ccounts pa payable su subsidiary le ledger b' "ccounts "ccounts payable payable control control account account c' "ccoun ounts recei ceivabl able sub subssidiary iary ledger ger d' Aeneral ledger "1!E2 " !ection ':
%$' 4( the accounts payable subsidiary subsidiary ledger shows the (ollowing (ollowing balances on 0% July #$%%, what is the balance in the accounts payable control account on the same date* "ssuming recording and balancing o( accounts payable records are up to dateC' ilson D 9 $$$ atson D%: #:$ ;hang D ? :$ a' D$ b' D#? $$$ +r c' D#? $$$ 3r d' +ann +annot ot be be calc calcul ulat ated ed
"1!E2 B !ection ':
%%' hich o( these is not an advantage o( using special special >ournals compared compared to recording all transactions in a general >ournal* a' Journalising time is reduced b' Ta7ing out out a trial trial balance balance is easier c' 5osting to to the ledger is is .uic7er d' !imilar transactions are grouped "1!E2 B !ection '=
%#' +olumns +olumns (or A!T collections collections could be (ound in which two special special >ournals* a' +ash receipts an and cash pa payments b' +ash receipts and sales c' !ales and purchases d' +ash receipts and purchases "nswer B !ection '=
':
© John iley and !ons "ustralia, Ltd #$%#
Testbank to accompany Accounting 8e
%0' The statement statement that is incorrect is8 4n a manual accounting system8 a' +ash ash sal sales es are are rec recor orde ded d in in the the cash cash rece receip ipts ts >our >ourna nall b' +redit sales are recorded in the th e sales >ournal c' !ales !ales o( surpl surplus us o((i o((ice ce e.uip e.uipme ment nt (or (or cas cash h are are record recorded ed in the the gene genera rall >our >ournal nal d' !ale !aless o( non/ non/cu curr rren entt asse assets ts on on cred credit it are are rec recor orde ded d in the the gen gener eral al >ou >ourn rnal al "1!E2 + !ection '=
%9' The general general ledger posting (rom the credit credit sales >ournal is8 a' 3ebit 3ebit to "cco "ccount untss 2ec 2ecei eiva vabl ble, e, cred credit it to !ale !ales, s, credi creditt to to A!T A!T coll collect ection ionss b' 3ebit to !ales, !ales, credit credit to A!T +ollections, +ollections, credit to +ash +ash c' 3ebit ebit to !ale !ales, s, cred crediit to to "ccou ccount ntss 2ece 2eceiv ivab able le d' 3ebit 3ebit to +ash, +ash, debi debitt to to A!T A!T +oll +ollec ectio tions, ns, cred credit it to "ccou "ccounts nts 2ece 2eceiva ivable ble "1!E2 " !ection '=
%:' " credit o( D:9$ $$$, including %$ A!T, A!T, was posted to the "ccounts 5ayable +ontrol account on the last day o( the month' rom which special >ournal would this posting most li7ely li7ely have have come* come* a' +ash receipts b' +ash payments payments c' 5urchases d' !ales "1!E2 + !ection '=
%=' " column column (or 3iscount 2eceived 2eceived could be (ound in which >ournal* >ournal* a' Aeneral b' !ales c' +ash payments d' +ash receipts "1!E2 + !ection '=
%' %' a' b' c' d'
The tran The transac sacti tion on that that coul could d not resul resultt in a cre credi ditt balanc balancee in a debt debtor< or
"1!E2 3 !ection '=
© John iley and !ons "ustralia, Ltd #$%#
'=
Chapter 7: Accounting for Systems
%?' Fylie is both a debtor and a creditor o( Tiger Tiger Balm' "t the end o( the period she owes Tiger Tiger Balm D#$$ while Tiger Tiger Balm owes her D%,:$$' The correct >ournal entry to o((set the amounts against each other is8 a' 3ebit 3ebit debto debtors rs D#$$G D#$$G credit credit credi creditors tors D#$$ b' 3ebit creditors D#$$G credit debtors D#$$ c' 3ebit 3ebit debtor debtorss D%,:$$G D%,:$$G credit credit credit creditors ors D%,:$ D%,:$$ $ d' 3ebit 3ebit credito creditors rs D%,:$$G D%,:$$G credi creditt debtors debtors D%,:$ D%,:$$ $ "1!E2 B !ection '=
%@' "lles !upplies bought D%$ $$$ worth o( goods (rom ">a) 5ty Ltd Ltd on credit' Be(ore payment was made made ">a), in turn, turn, purchased purchased D9$$$ D9$$$ worth worth o( station stationery ery on credit credit (rom "lles !upplies' hat is the general >ournal entry in "lles !upplies boo7s to o((set the amount owing to it against the amount it owes* a' "ccounts 2eceivable, ">a) Ltd D9$$$ "ccounts 5ayable, ">a) Ltd D9$$$ b' "ccounts "ccounts 2eceivabl 2eceivable, e, ">a) Ltd =$$$ "ccounts 5ayable, ">a) Ltd =$$$ c' "ccounts 5ayable, ">a) Ltd =$$$ "ccounts 2eceivable, ">a) Ltd =$$$ d' "ccounts 5ayable, ">a) Ltd 9$$$ "ccounts 2eceivable, ">a) Ltd 9$$$ "1!E2 3 !ection '=
#$' hich o( these is not a general ledger ledger so(tware pac7age* pac7age* a' E)cel b' "ttache "ttache c' MIB d' uic7Boo7s "1!E2 " !ection '
#%' The listings listings o( the MIB "ccount2ight "ccount2ight 5lus command command centres are8 a' 5age Layo ayout, Master ster 3ocum umeent, Iutl utline b' "ccounts, "ccounts, Ban7ing, Ban7ing, !ales, Time Billing, Billing, 5urchases, 5urchases, 5ayroll, 5ayroll, 4nventory 4nventory, +ard +ard ile c' Jour Journa nal, l, led ledge gerr, Tri Trial al bal balan ance ce,, 4nco 4ncome me stat statem emen ent, t, Bal Balan ance ce she sheet et d' 4nvoi nvoice ces, s, +he. +he.ue ues, s, Irder rders, s, 3epos eposiits, ts, +r +redit edit 1ote 1otess "1!E2 B !ection '?
'
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Testbank to accompany Accounting 8e
##' 4n MIB details o( customerKs, supplierKs and employeesK addresses, contact in(ormation, credit terms, etc' are stored in the8 a' +ard (ile b' Ban7ing command centre c' "ccounts command centre d' 4nventory command centre "nswer " !ection '?
#0' ith uic7Boo7s are the e.uivalent to MIBKs MIBKs command centres' a' Hubs b' +entres c' 4cons d' !ections "1!E2 B !ection '?
#9' The ind Transactio Transaction n button, which appears in all MIB command command centres, shows8 a' Th Thee inc incom omee stat statem emen entt b' The balance sheet c' " record o( all the transactions transactions entered in in that module in a particular particular time period period d' Th Thee gen gener eral al ledg ledger er "1!E2 + !ection '?
#:' 4n MIB, which which o( these is not a (unction o( the sales module* module* a' 5rep 5repar arin ing g invo invoic ices es b' 2ecording sales c' 2ecor 2ecordi ding ng receip receipts ts (rom (rom custo custome mers rs d' 2ecor 2ecordi ding ng A!T A!T outla outlays ys "1!E2 3 !ection '? #=' ith ith MIB, the chart o( accounts is accessed accessed through which module* a' Ban7ing b' 5ayroll c' "ccounts d' 4nventory "1!E2 + !ection '?
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'?
Chapter 7: Accounting for Systems
#' 4n uic7Boo7s uic7Boo7s a sales invoice can be created created by clic7ing on the icon icon in the customers section o( the home page' a' invoices b' sales c' cred credit it tran transa sact ctio ion n d' customer "1!E2 " !ection '?'
#?' ithin ithin the MIB MIB Ban7ing module, module, the command command allows the balance in the ban7 account to be veri(ied with the ban7 statement8 a' 2eceive Money oney b' 2econcile "ccounts c' !pend Money oney d' Trans ransac acti tion on Jour Journa nall "1!E2 B !ection '?
#@' hich o( these is not a common problem o( a computerised computerised accounting accounting system* a' +omputer (raud b' 5ower (ailure c' +omputer viruses d' Lac7 o( 7eyboard s7ills "1!E2 3 !ection '@
0$' 4n comparing the operation operation o( a manual accounting accounting system with a computerised computerised system which o( the (ollowing is incorrect* !tep in the "ccounting Manual !ystem +omputerised +ycle !ystem a' b' c' d'
Journalise transactions 5ost to ledger ledger accounts accounts 5repare trial balance 5repare closing entries
Manual Manual Manual Manual
"utomatic "utomatic "utomatic "utomatic "utomatic
"1!E2 " !ection '%$
'@
© John iley and !ons "ustralia, Ltd #$%#
Testbank to accompany Accounting 8e
0%' How many o( these are advantages advantages o((ered o((ered by the use o( computers in accounting* accounting* aster response time Error reduction " greater range o( reports " lower capital outlay a' Ine b' Two c' Three d' our
"1!E2 + !ection '@
0#' hich o( these does not normally normally provide an input into an accounting accounting system* a' Ban7 statement b' Bar code code reader reader c' Managerial re report d' 4nvoice "1!E2 + !ection '%
00' hich o( these is not one o( the three phases in the development development o( an accounting system* a' systems an analysis, b' systems systems design c' systems im implementation an and re review d' systems plan "1!E2 3 !ection '#
09' The main reason (or using special special >ournals and subsidiary subsidiary ledgers ledgers is8 a' to ma7e ma7e manu manual al acco accoun unti ting ng syst system emss ope opera rate te mo more re e((i e((ici cien entl tly y b' to divide divide the accounting accounting wor7 wor7 up between between employees employees c' to allo allow w the the man manua uall sys syste tem m to be mo more re easi easily ly comp comput uter eris ised ed d' beca ecause (ewe (ewerr mi mista7e ta7ess are are li7e li7ely ly to occur "1!E2 " !ection '9
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'%$
Chapter 7: Accounting for Systems
0:' 4n comparing comparing computerised computerised and manual accounting accounting systems the correct correct statement is8 a' " comp comput uter eris ised ed syst system em does does not not re. re.ui uire re any any rev rever ersi sing ng entr entrie iess b' 4n computeris computerised ed systems systems the use o( >ournals >ournals is less less important important than in in a manual manual system c' Error rrorss are are easi easier er to (ind (ind in a com compu pute teri rise sed d acc accou ount ntin ing g sys syste tem m d' " wor7s wor7shee heett (or (or ad> ad>ust ustme ments nts is sti still ll o(ten o(ten prep prepare ared d when when a com comput puter erise ised d syst system em is used "1!E2 B !ection '%$
'%%
© John iley and !ons "ustralia, Ltd #$%#
Testbank to accompany Accounting 8e Fillin the blanks
%'
3ata 3ata are are rec recor orde ded d (ac (acts tsGG i i is data data that that have have been been proc process essed ed so as to be more use(ul to potential users'
"1!E2 in(ormation !ection '%
#'
The proce The procedur dures es adop adopte ted d by an enti entity ty to to cont contro roll its its acti activit vitie iess and and prot protect ect its its asset assetss are 7nown as its system o( i c'
"1!E2 internal control !ection '0
0'
Arou Aroups ps o( o( indi individ vidual ual acco account untss whose whose tota totall shou should ld e.ual e.ual the the bala balance nce o( a rela relate ted d control account are 7nown as a s ledger'
"1!E2 subsidiary !ection ':
9'
" gene general ral ledg ledger er acc accoun ountt supp support orted ed by by the the det detai aill o( a subs subsidi idiar ary y ledge ledgerr is is 7now 7nown n as a c account'
"1!E2 control !ection ':
:'
!ale !aless o( o( inve invent ntory ory on cred credit it are are rec record orded ed in the the s s spec specia iall >ou >ourna rnal' l'
"1!E2 sales !ection '=
='
The spe speci cial al >ou >ourn rnal al use used d to rec recor ord d all all cash cash rec recei eipt ptss is the the c c r >ournal'
"1!E2 cash receipts !ection '=
' +redi +reditt sal sales es are are proc process essed ed throu through gh the the s s comm comman and d cen centr tree o( o( MI MIB B "ccount2ight 5lus' "1!E2 sales !ection '?
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'%#
Chapter 7: Accounting for Systems
?' "ll "ll cash cash rece receip ipts ts,, othe otherr tha than n rece receip ipts ts (rom (rom debt debtors ors,, are are proce processe ssed d thr throug ough h the the b b command command centre centre o( MIB MIB "ccount2ight "ccount2ight 5lus' 5lus' "1!E2 ban7ing !ection '?
@'
4n an i i acco account unting ing pac7a pac7age ge whe when n tran transa sact ctio ions ns are are ente entere red d int into o one module the computer automatically updates the other modules'
"1!E2 integrated !ection '
%$' %$' Thee ma>o Th ma>orr accoun accounti ting ng (unc (uncti tion onss avail availabl ablee with with uic uic7B 7Boo7 oo7ss 5rem 5remie ierr are are !uppliers, +ustomers, E and Ban7ing' "1!E2 Employees !ection '?
'%0
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Testbank to accompany Accounting 8e E!am type "uestions #$EST%&' 7()
!' !wallowtail uses a sales >ournal, a cash receipts >ournal, a general >ournal, a general ledger and an accounts receivable subsidiary ledger' The terms o( all credit sales are :-%$, n-0$' "ccounts receivable balances at % "ugust #$%% were8 D / % , $ $ 0= $ @@ $ D0,$:$
I' Irchard E' Emperor M' Monarch B' Brown
" summarised trial balance as at % "ugust, #$%% is as (ollows8 "ccount Title "ccount Balances 3r +r D D +ash at ban7 % @ ,0 # $ "ccounts receivable control 0 ,$ : $ A!T collections 9? $ !ales %@,:?$ !ales returns & allowances ?$ $ 3iscount allowed 9? $ Ither accounts 0,:@$ D# D#0,=:$ D#0,=:$ The (ollowing transactions occurred during "ugust8
SALES JOURNAL #$%%
4 nv 1umber
"ccount
" ug 9 %$ 0$
#$%%
%$ # %$ 0 %$ 9
I' Irchard E' Emperor M' Monarch
"ccount
"ug ? %0 % #% 0%
M' Monarch I' Irchard !ales !ales E' Emperor
!ales D # $$ : $$ % $$ ? $$
A!T +ollections D #$ :$ %$ ?$
+"!H 2E+E45T! JI621"L B an7 3iscount A!T !ales "llowed +ollections D D D 0= $ #$ @ %$ % == $ =$$ %,=:$ %,:$$ %,$$ D9 , : @ D %$ D% D# , %$ $
© John iley and !ons "ustralia, Ltd #$%#
A!T +ollections
"ccounts 2eceivable D ## $ :: $ %%$ D? ?$
"ccounts 2eceivable D 0= $ ## $
=$ % :$ %,$$ D#,#?$
D#%$
'%9
Chapter 7: Accounting for Systems
GENERAL JOURNAL "ccount
#$%% " ug
0 !ales returns and allowances A!T collections "ccounts receivable B' BrownC +redit (or de(ective goods'
3ebit D @$ @
+redit D
@@
2E642E38 aC
!et up the the genera generall ledger ledger accou accounts, nts, post (rom the >ournal >ournalss to the the genera generall ledger ledger and balance the accounts at 0% "ugust #$%%'
bC
Ta7e out a trial balance' balance '
cC
!et up the the accoun accounts ts receiv receivable able subs subsidia idiary ry ledger ledger accounts accounts,, post post (rom (rom the the >ourna >ournals ls to the accounts receivable subsidiary ledger and balance the accounts'
dC
2econci 2econcile le the the subsidi subsidiary ary ledge ledgerr to the the accoun accounts ts recei receivabl vablee control control account account by by means o( a schedule o( debtorKs balances'
#$EST%&' 7(*
The 4nternational +ompany presents the (ollowing in(ormation8 ACCOUNTS PA PAYABLE BALANCES at 1 November 2011. 2011.
!' !ingapore M' Malaysia 4' 4ndonesia H' Hong Fong
3 a te #$%% 1ov 0 1ov 9 1ov 1ov %0 1ov %:
'%:
4n v
%99# %#"" %= $ % @ %": @90 %=$
D %,$$$ 9,#$$ :$ $ =,9$$ D%#,%$$
562+H"!E! JI621"L "ccount 5urchases A!T Iutlays D D Malaysia %,%@$ %%@ !ingapore :?$ :? Hong Fong #,$$$ #$ $ F Forea %%$ %% Malaysia #,#0$ ##0 4ndonesia =$ = D=,%$ D =%
© John iley and !ons "ustralia, Ltd #$%#
"ccounts 5ayable D %,0$@ =0? #,#$$ %#% #,9:0 == D=,?
Testbank to accompany Accounting 8e CASH PAYMENTS PAYMENTS JOURNAL
3ate #$%% 1ov = @ %0 %@ #: 0$
+he. 1o'
@:: @ := @: @ : @ :? @ :@ @ =$ @=% @= @ =# @ =0
"ccount
5urchases !i !ingapore 4 n do n e s i a Electricity ages Malaysia Ho Hong Fong 5urchases !tationery
"ccounts 5ayable D
D 90$
Ither
A!T Iutlays
D
D 90
% ,$ $ $ :$ $ @$ %,##$
% ?$ D= %$
AE1E2"L JI621"L "ccount
:$ D#,$=$
%? : D % 9:
3ebit
"ccounts payable control !ingaporeC 5u 5urchases returns
3isc 2ev D
A!T Iutlays
D
0$
0
9$
9
D $
D
+redit D 0:
D 0:
2E642E38 aC 5ost the the relevant relevant in(ormation in(ormation (rom the the >ournals >ournals to the the general ledger accounts payable control account' accou nt' Balance the account' 3o not n ot post to the other general gener al ledger accountsC' bC !et up the accounts payable subsidiary ledger accounts' 5ost (rom the >ournals >ourna ls to the accounts payable subsidiary ledger and balance the accounts' cC 2econcile 2econcile the subsidiary subsidiary ledger ledger to the accounts accounts payable payable control control account by means o( a schedule o( creditorKs balances as at 0$ 1ovember #$%%'
#$EST%&' 7(+
4ndicate the proper >ournal to use to record each o( the (ollowing transactions' 6se ! (or sales >ournal, 5 (or purchases >ournal, +2 (or cash receipts >ournal, +5 (or cash payments >ournal, and AJ (or general g eneral >ournal' a' b' c' d' e' (' g' h' i' >' 7' l'
5urch 5urchase ase o( e.uip e.uipmen mentt (or (or cash cash Iwner withdraws withdr aws cash !ale !ale o( (urnitu (urniture re in e)change e)change (or (or a note recei receivabl vablee 5ayment 5ayment (or the purchase purchase o( inventory inventory within within the discount period 2ecei 2eceipt pt o( o( payme payment nt on on accoun accountt 5urch 5urchase ase goods goods (or (or resale resale on credit credit 2eturne 2eturned d goods purchas purchased ed and receivi receiving ng a cash re(und re(und 2ecord 2ecorded ed return return o( goods goods sold sold on credi creditt 5aym 5aymen entt o( o( ren rentt !ale o( goods go ods on credit 5urchas 5urchasee o( invent inventory ory (or (or resale resale (or cash cash 5urcha 5urchase se o( e.ui e.uipm pment ent on on credi creditt © John iley and !ons "ustralia, Ltd #$%#
Ban7 D
@
9 ,#$ $ = , 9$ $
D % # ,%$ $
3ate #$%% 1o 1ov @
5urchases
'%=
90 @ = : $$ @@ %,##$ 9,%:= =,9$$ % @? ? #: D%9,?0?
Chapter 7: Accounting for Systems Solution e!am type "uestions S&,$T%&' #$EST%&' 7()
!' !"LLIT"4L Aeneral Ledger a#$%% "ug % 0%
Balance +2 +2J
#$%% "ug % 0%
Balance !J
0%
Balance
#$%% "ug 0%
0% 0%
+2J AJ Ba Balance
#$%% "ug % 0%
#$%%
'%
Balance AJ
Balance +2J
D
"ccounts 2eceivable +ontrol D #$%% 0,$:$ "ug 0% +2J ?? $ 0% AJ 0% 0% Balance D0,@0$ %,::% A!T +ollections D #$%% % "ug % Balance @ 0% !J =$ 0% +2J D$ 0% Balance !ales D #$%% "u g % 0% 0%
#$%%
#$%% "ug % 0
Cash at .ank D #$%% %@,0#$ 9 ,: @ #0,?@@
Balance !J +2J
!ales 2eturns and "llowances D #$%% ? $$ @$ ?@$ 3iscount "llowed D #$%% 9 ?$ %$ 9@$ Ither accounts D #$%% "ug % Balance
© John iley and !ons "ustralia, Ltd #$%#
D #,#?$ @@ %,::% D0,@0$
D 9 ?$ ?$ # %$ D $ =$
D %@,:?$ ?$ $ #,%$$ ##,9?$
D
D
D 0,:@$
Testbank to accompany Accounting 8e
bC Trial Balance as at 0% "ugust #$%% "ccount Title
+ash at ban7 "ccounts receivable control A!T collections !ales !ales returns & allowances 3iscount allowed Ither accounts cC
"ccount Balances 3r +r D D # 0 ,? @ @ % ,: : % =$ # # ,9? $ ?@ $ 9@ $ 0,:@$ D# D #=,?0$ D#=,?0$
"ccounts 2eceivable !ubsidiary Ledger
#$%% "ug 9
I' Irchard D #$%% # #$ " u g %0
!J
#$%% "ug % %$
Balance !J
0%
Balance
#$%% "ug % 0$
Balance !J
Balance
0% 0%
#$%% "ug %
Balance
Balance
0% 0%
E' Emperor D #$%% % , $ $ " u g 0% ::$ 0% D#,#:$ :: $ M' Monarch D #$%% 0= $ "u g ? %%$ 0% D 9 $ %%$ B' Brown D #$%% @@ $ "u g 0 0% 0% D@@$ ? @%
+2J
D # #$
+2J Balance
D %,$$ : :$ D#,#:$
+2J Balance
D 0 =$ %%$ D9 $
AJ returnsC Balance
D @@ ? @% D @ @$
dC !chedule o( 3ebtorKs Balances as at 0% "ugust #$%% D E' Emperor : :$ M' Monarch %%$ B' Brown ? @% Balance as per control account D%,::%
© John iley and !ons "ustralia, Ltd #$%#
'%?
Chapter 7: Accounting for Systems S&,$T%&' #$EST%&' 7(*
aC aC
#$%% 1ov 0$
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S. Singapore #$%% 1ov @
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Balance 5J
Balance
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M. Malaysia 1ov %0
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Balance 5J 5J Balance
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I. Indonesia 1ov
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Balance 5J Balance
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H. Hong Kong 1ov %@
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Balance 5J Balance
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K. Korea 1ov
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Testbank to accompany Accounting 8e
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!chedule o( +reditors Balances 0$ 1ovember #$%%
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