Acc Unit-4-Answers

UNIT 4
USING EXPENSE, PURCHASES, SALES AND DRAWINGS

ACCOUNTS
Question 1
Dr Bank account Cr
Feb 1 Balance 12 000 Feb 2 Purchases 1 200
21 Sales 520 4 Rent 420
8 Insurance 180
18 Rent 420
Dr Cash account Cr
Feb 1 Balance 400 Feb 19 Insurance 40
5 Sales 330 24 Purchases 60
Dr Capital account Cr
Feb 1 Balance 12 400
Dr Purchases account Cr
Feb 2 Bank 1 200
11 Trade payable 840
24 Cash 60
Dr Rent account Cr
Feb 4 Bank 420
18 Bank 420
Dr Sales account Cr
Feb 5 Cash 330
14 Trade 910
receivable
21 Bank 520
Dr Insurance account Cr
Feb 8 Bank 180
19 Cash 40
Dr Trade payable account Cr

May 11 Purchases 840
Dr Trade receivable Cr
May 14 Sales 910
Question 2
Dr Bank account Cr
June 1 Balance 14 400 June 2 Purchases 4 700
21 Sales 810 3 Rent 740
19 Electricity 210
Dr Cash account Cr
June 1 Balance 700 June 7 Wages 580
6 Sales 490 14 Wages 490
24 Purchases 110
June 1 Balance 15 100
June 2 Bank 4 700
11 Trade payable 1 470
24 Cash 110
Dr Rent account Cr
June 3 Bank 740
Dr Sales account Cr
June 6 Cash 490
13 Trade 1 420
receivable
21 Bank 810
Dr Wages account Cr
June 7 Cash 580
14 Cash 490

June 11 Purchases 1 470
Dr Trade receivable account Cr

June 13 Sales 1 420
Dr Electricity account Cr
June 19 Bank 210
Question 3
Dr Equipment account Cr
April 1 Balance 6 200
18 Bank 1 020
Dr Bank account Cr
April 1 Balance 8 400 April 8 Drawings 240
21 Sales 720 11 Purchases 510
18 Equipment 1 020
Dr Cash account Cr
April 1 Balance 300 April 13 Wages 620
5 Sales 1 230 19 Drawings 90
27 Wages 580
April 1 Balance 14 900
April 4 Trade payable 3 600
11 Bank 510
Dr Sales account Cr
April 5 Cash 1 230
9 Trade 470
receivable
21 Bank 720
Dr Drawings account Cr
April 8 Bank 240
19 Cash 90

April 4 Purchases 3 600

April 9 Sales 470
Dr Wages account Cr
April 11 Cash 620
27 Cash 580
Question 4
Dr Fittings account Cr
Oct 1 Balance 8 600 Oct 18 Cash 300
Dr Bank account Cr
Oct 1 Balance 7 800 Oct 11 Rent 770
22 Payable 3 000
29 Drawings 390
Dr Cash account Cr
Oct 1 Balance 700 Oct 4 Purchases 500
7 Sales 990 12 Drawings 110
18 Fittings 300
25 Receivable 210
Oct 1 Balance 17 100
Oct 4 Cash 500
Dr Sales account Cr
Oct 7 Cash 990
15 Trade 440
receivable
Oct 12 Cash 110
29 Bank 390

Oct 22 3 000 Oct 6 Purchases 4 240

Oct 15 Sales 440 Oct 25 Cash 210
Dr Rent account Cr
Oct 11 Bank 770
Question 5
1 January Purchased goods for resale and paid by cheque $6000

2 January Cash sales totalled $3200
3 January Paid general expenses by cheque $320
4 January Sold goods on credit $1730
5 January Purchased goods on credit $2290
Question 6
1 May Sold goods on credit $3790

2 May Paid wages in cash $280
3 May Purchased goods for resale and paid in cash $170
4 May Purchased goods for resale on credit $1200
5 May Received cheque from trade receivable $2000
Question 7
Dr Premises account Cr
March 1 Balance 120 000
Dr Vehicle account Cr
March 1 Balance 8 900 March 17 Bank 400
24 Bank 2 800
Dr Trade receivables account Cr

March 1 Balance 7 300 March 15 Bank 2 800
Dr Bank account Cr
March 1 Balance 6 400 March 3 Trade payable 1 700
5 Cash 800 10 Insurance 420
15 Trade receivable 2 800 18 Loan interest 120
17 Equipment 400 24 Equipment 2 800
30 Vehicle exp 230
Dr Cash account Cr
March 1 Balance 800 March 5 Bank 800
4 Sales 1 470 12 Wages 580
22 Sales 1 280 19 Drawings 250
26 Wages 630
29 Insurance 180
Dr Bank loan account Cr

Dr Trade payables account Cr

March 3 Bank 1 700 March 1 Balance 8 900
8 Purchases 3 200
Dr Sales account Cr
March 4 Cash 1 470
22 Cash 1 280
March 8 Payable 3 200
March 19 Cash 250
Dr Insurance account Cr
March 10 Bank 420
29 Cash 180
Dr Wages account Cr
March 12 Cash 580
26 Cash 630
Dr Loan interest account Cr

March 18 Bank 120
Dr Vehicle expenses account Cr

March 30 Bank 230
Question 8
Nov 1 Balance 9 400 Nov 24 Bank 250
Dr Fittings account Cr
Nov 1 Balance 8 700
8 Bank 1 300
Dr Trade receivables account Cr

Nov 1 Balance 1 210 Nov 12 Bank 480
22 Sales 390
Dr Bank account Cr
Nov 1 Balance 3 760 Nov 2 Rent 750
12 Receivable 480 4 Purchases 1 440
15 Sales 1 280 8 Fittings 1 300
24 Equipment 250 11 Bank loan 500
17 Advertising 130
18 Payable 640
26 Drawings 610
Dr Cash account Cr
Nov 1 Balance 490 Nov 5 Wages 520
1 Sales 910 23 Wages 820
Nov 1 Balance 17 590
Dr Bank loan account Cr

Nov 11 Bank 500 Nov 1 Balance 5 000
Dr Trade payables account Cr

Nov 18 Bank 640 Nov 1 Balance 970
30 Purchases 2080
Dr Sales account Cr
Nov 1 Cash 910
15 Bank 1 280
22 Trade 390
Nov 4 Bank 1 440
Dr Drawings Cr
Nov 26 Bank 610
Dr Rent account Cr
Nov 2 Bank 750
Dr Wages account Cr
Nov 5 Cash 520
23 Cash 820
Dr Advertising account Cr
Nov 17 Bank 130

Acc Unit-4-Answers

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UNIT 4

USING EXPENSE, PURCHASES, SALES AND DRAWINGS

Dr Trade payable account Cr

Dr Trade payable account Cr

Dr Trade receivable account Cr

Dr Trade payable account Cr

Dr Trade receivable account Cr

Dr Trade payable account Cr

Dr Trade receivable account Cr

1 January Purchased goods for resale and paid by cheque $6000

1 May Sold goods on credit $3790

Dr Trade receivables account Cr

Dr Bank loan account Cr

Dr Trade payables account Cr

Dr Loan interest account Cr

Dr Vehicle expenses account Cr

Dr Trade receivables account Cr

Dr Bank loan account Cr

Dr Trade payables account Cr

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