1. Exam style Q

2. Apr 1 Balance b/f 80 000 Apr 1 Balance b/f 2000 Apr 1 Balance b/f 30 000 This is a credit because the goods to the value of 2000 have left the business

3. Apr 1 Balance b/f 5000 Apr 1 Balance b/f 3000 Apr 1 Balance b/f 2000 Apr 1 Balance b/f 10 000 You have put 3000 in to the rent a/c You have bought stationary to the value of 2000. You owe this money to the bank. It is leaving your business.

4. Apr 1 Balance b/f 4000 Apr 1 Balance b/f 8000 Apr 1 Balance b/f 6000 Apr 1 Balance b/f 12000 These balances on the credit side, because you owe the money to them. Money is leaving the business

5. Apr 1 Balance b/f 80 000 Apr 30 creditors 124 000 You have bought goods from these people, so goods have come in to your business. You could write all 5 creditors, or just write a summary for all creditors at the end of the money

6. Apr 1 Balance b/f 2000 Here, you have returned goods. Goods have left your business, so it is a credit. Apr 30 Creditors 250

7. Apr 1 Balance b/f 30 000Apr 30 purchase retur 275 Apr 5 Bank (cash book) 4000Apr 30 purchases 13640 We pay Allen & Co 4000 This will also be shown in the Allen & Co T a/c

8. Try this one by your self… Think. VAT collected by the business on the sale of goods is shown on the credit side because it is a liability (money owed to the government). VAT paid by the business for purchases is shown on the debit side because in the end the VAT is paid by the consumer, not the business. So it is money owing to you. Apr 30 Creditors1240 Apr 10 Bank (cash book)15 Apr 30 Balance c/d3990 Apr 1 Balance b/f5000 Apr 30 Creditors25 Apr 30 Bank (Cash book)220 5245 May 1 balance b/d3990

9. Apr 1 Balance b/f 3000 Apr 2 Bank (cash book) 3000 Apr 1 Balance b/f 2000 Apr 10 Bank (cash book) 150 Apr 1 Balance b/f 10000Apr 22 Bank (cash book) 250

10. Apr 1 Balance b/f 4000 Apr 1 Balance b/f 8000 Apr 10 Purchase return 220 Apr 5 Bank (cash book) 4000Apr 10 Purchase s 1100 Apr 23 Purchase s 2200 Apr 17 Purchase s 3300

11. Apr 1 Balance b/f 6000 Apr 12 Purchases 440 Apr 12 Purchases returns 55 Apr 1 Balance b/f 12000 Apr 28 Purchases 6600