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Basic Bookkeeping – Level 1
F INAL E XAM Questions and Answers
V4.0 CU07-08-FEB
PRACTICAL EXAM ANSWER
SHEETS No. of Pages to this Answer Sheet Section:
Name:
Student Number:
Location:
Date:
Total available marks from Practical Exam Questions: 60
The Online Exam is made up of 50 multiple choice and/or True or False
questions. Each question is worth 2 marks. Of the 50 questions, 30 are
directly related to the information you will enter on the Answer Sheets during
the Practical portion of the Final Exam.
Use the following Journals, Ledgers, and Trial Balance sheets for all your entries. Pay close attention to the highlighted/shaded areas throughout the Answer Sheets because the Online Exam contains questions related specifically to these highlighted/shaded areas. All Answer Sheets must be completed prior to beginning the Online Exam. Follow the instructions in the Final Exam, and remember to check your work carefully.
Date Cust. 2003 Customer No. Mar 11 Gerald Hemmings GH Mar 12 Fred Milsom FM Mar 17 Mark Mower MM TOTAL
XY Consumer Products
SALES JOURNAL SJ
Acc Rec Sales PST GST Pay. General Ledger Dr. Cr. Cr. Cr. Acc. # Cr. 1020 4000 2075 2081 Dr.
XY Consumer Products
PURCHASES JOURNAL PJ
Date Vendor Name / 2003 Description Mar 10 Johnston Comp. Supp. Mar 28 Office Products Inc TOTAL
XY Consumer Products
CASH DISBURSEMENTS JOURNAL
Purchase Purchase Chec Vendor Bank A/P s Discounts k (^) No. No. Cr. Dr. Dr. Cr. 1010 2010 5000 5020 1075 JCS001 3,210.00 3,210. 1076 OPI001 2,318.32 2,318. 5,528.32 5,528.
CD
GST GST General Receiv. Payable^ Acc. Ledger Dr. Cr.
Dr. Cr. 2080 2081
XY Consumer Products
CASH RECEIPTS
CR
JOURNAL
PST GST GST Sales General Bank A/R Sales Payable Receiv. Payable Discounts Ledger Date Customer Name / Cust. Acc. 2003 Description of Receipt No. Dr. Cr. Cr. Cr. Dr. Cr. Dr. # Dr. Cr. 1010 1020 4000 2075 2080 2081 4020 Mar 14 Mark Mower MM0567 396.75 396. Mar 25 Gerald Hemmings GH0468 28,750.00 28,750. Mar 26 Mark Mower MM0567 359.34 365.70 6. TOTAL 29,506.09 29,512.45 6.
XY Consumer Products
PAYROLL JOURNAL PRJ
Exam Answer Sheets XY Consumer Products PAYROLL LEDGER Employee: Phil Arnett 26 Baker St. East Phone: (519) 667-
Address:
London, ON Start Date: 01/04/95 N6A 4U SIN: 234 568 458 Pay Ending Deductions (^2003) Folio Gross Pay Fed. IT Prov. IT CPP EI XY Consumer Products PAYROLL LEDGER Employee: Ken Rino Address:^ 16 Little Gray St. Phone: (519) 672-8893 London, ON Start Date: 01/04/95 N6C 5R SIN: 638 967 348 Pay Ending Deductions 2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Answers Sheets- EmpNo. : A Cl.Code: 6 Period: Weekly Health Net Pay Care EmpNo. : A Cl.Code: 1 Period: Weekly Health Net Pay Care XY Consumer Products PAYROLL LEDGER EmpNo. Employee: Jean Trickett 1007 Dundas St. E. : A Phone: (519) 433-1378 Address: London, ON Cl.Code: 2 Start Date: 10/10/99 N6B 4T5 Period: Weekly SIN: 807 458 236 Pay Ending Deductions (^2003) Folio Gross Pay Fed. IT Prov. IT CPP EI Health (^) Net Pay Care
XY Consumer Products
GENERAL LEDGER
Bank
Date Item Folio Debit Credit Dr. Cr. Balance 2003 Jan. 01 Balance forward Dr. 14,536. Jan. 31 CR01 14,200.66 Dr. 28,736. Jan. 31 CD03 28,556.73 Dr. 179. Feb. 28 CD01 27,279.49 Cr. 27,099. Feb. 28 CR01 13,890.00 Cr. 13,209. Feb. 28 GJ01 150.00 Cr. 13,359. Feb. 28 GJ01 20,000.00 Dr. 6,640.
XY Consumer Products
GENERAL LEDGER
Accounts Receivable
Date Item Folio Debit Credit Dr. Cr. Balance 2003 Jan. 01 Balance forward Dr. 13,890. Jan. 25 GJ01 908.50 Dr. 12,981. Jan. 31 SJ01 16,331.92 Dr. 29,313. Jan. 31 CR01 9,197.32 Dr. 20,116. Feb. 28 SJ01 30,733.75 Dr. 50,849. Feb. 28 CR01 13,890.00 Dr. 36,959.
Date Item Folio Debit Credit Dr. Cr. Balance 2003 Jan. 01 Balance forward Cr. 500. Jan. 31 GJ02 88.09 Cr. 588. Jan. 31 CD03 500.00 Cr. 88. Jan. 31 PRJ01 62.92 Cr. 151. Feb. 28 CD01 151.01 – Feb. 28 PRJ01 30.90 Cr. 30. Feb. 28 GJ01 43.26 Cr. 74.
XY Consumer Products
GENERAL LEDGER
CPP Payable
Date Item Folio Debit Credit Dr. Cr. Balance 2003 Jan. 01 Balance forward Cr. 618. Jan. 31 GJ02 128.30 Cr. 746. Jan. 31 CD03 618.00 Cr. 128. Jan. 31 PRJ01 128.30 Cr. 256. Feb. 28 CD01 256.60 – Feb. 28 PRJ01 62.82 Cr. 62. Feb. 28 GJ01 62.82 Cr. 125.
XY Consumer Products
GENERAL LEDGER
Employees Federal Income Tax Payable
Date Item Folio Debit Credit Balance Dr. Cr. 2003 Balance forward^ Cr.^ 3,560. Jan. 01
XY Consumer Products
GENERAL LEDGER
Employees Health Care Payable
Date Item Folio Debit Credit Dr. Cr. Balance 2003 Jan. 01 Balance forward Cr. 144. Jan. 31 CD03 144.00 – Jan. 31 PRJ01 36.00 Cr. 36. Feb. 28 CD01 36.00 – Feb. 28 PRJ01 36.00 Cr. 36.
XY Consumer Products
GENERAL LEDGER
Provincial Sales Tax Payable
Date Item Folio Debit Credit Dr. Cr. Balance 2003 Jan. 25 GJ01 63.20 Dr. 63. Jan. 31 SJ01 1,136.13 Cr. 1,072.
Jan. 31 CR01 1.60 Cr. 1,074. Feb. 28 SJ01 2,138.00 Cr. 3,212.
XY Consumer Products
GENERAL LEDGER
GST Input Tax Credits Receivable
Date Item Folio Debit Credit Dr. Cr. Balance 2003 Jan. 23 GJ01 21.17 Cr. 21. Jan. 31 PJ01 1,269.46 Dr. 1,248. Jan. 31 CD03 3.22 Dr. 1,251. Feb. 28 PJ01 560.00 Dr. 1,811.
Date Item Folio Debit Credit Dr. Cr. Balance 2003 Feb. 28 CD01 413.95 Dr. 413. Feb. 28 CD01 378.54 Dr. 792. Feb. 28 CD01 380.53 Dr. 1,173. Feb. 28 PRJ01 1,173.02 –
XY Consumer Products
GENERAL LEDGER
Bank Loans
Date (^) Item Folio Debit Credit (^) Dr. Cr. Balance 2003 Jan. 01 Balance forward Cr. 12,000.
Feb. 28 20,000.00 Cr. 32,000.
XY Consumer Products
GENERAL LEDGER
Sales
Date Item Folio Debit Credit Dr. Cr. Balance 2003 XY Consumer Products
