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  • 5-10 Fa1

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    Shahab Shafi
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    This document contains a test on recording financial transactions for Upbeat Events Pty Ltd. It provides 10 transactions and asks the student to write the appropriate journal entries, including debit and credit accounts. For each transaction, only one account is given that is affected, and the student must determine the other account to write the complete journal entry. The transactions include payments of expenses like insurance and rent, purchases of assets like stock and computer equipment, loan repayment, receipt and payment of cash, and receipt of interest.

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    5-10 fa1

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    This document contains a test on recording financial transactions for Upbeat Events Pty Ltd. It provides 10 transactions and asks the student to write the appropriate journal entries, including debit and credit accounts. For each transaction, only one account is given that is affected, and the student must determine the other account to write the complete journal entry. The transactions include payments of expenses like insurance and rent, purchases of assets like stock and computer equipment, loan repayment, receipt and payment of cash, and receipt of interest.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    179 views10 pages

    5-10 Fa1

    Uploaded by

    Shahab Shafi
    This document contains a test on recording financial transactions for Upbeat Events Pty Ltd. It provides 10 transactions and asks the student to write the appropriate journal entries, including debit and credit accounts. For each transaction, only one account is given that is affected, and the student must determine the other account to write the complete journal entry. The transactions include payments of expenses like insurance and rent, purchases of assets like stock and computer equipment, loan repayment, receipt and payment of cash, and receipt of interest.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 10

    FA1 Recording Financial Transactions Test

    NAME
    BATCH TEACHER
    DATE TEACHER ASST
    OBT MARKS TOTAL MARKS

    1
    FA1 Recording Financial Transactions Test

    2
    FA1 Recording Financial Transactions Test

    3
    FA1 Recording Financial Transactions Test

    4
    FA1 Recording Financial Transactions Test

    5
    FA1 Recording Financial Transactions Test

    6
    FA1 Recording Financial Transactions Test

    7
    FA1 Recording Financial Transactions Test

    8
    FA1 Recording Financial Transactions Test

    Write the appropriate journal entries in the Books of Account of Upbeat Events Pty Ltd for the
    following. Unlike Exercise 4, you have only been given one account that is affected by the
    transaction. You must think of the other.

    1. Upbeat Events Pty Ltd. paid their annual insurance premium of $1,500.

    Account Dr Cr
    Insurance

    2. Upbeat Events Pty Ltd. paid $500 for rent

    Account Dr Cr

    Bank A/c

    3. Upbeat Events Pty Ltd. purchased $2,000 of stock on credit from a supplier.

    Account Dr Cr
    Stock

    4. Upbeat Events Pty Ltd. repaid a Bank Loan of $1,000

    Account Dr Cr
    Bank Loan

    9
    FA1 Recording Financial Transactions Test

    5. The director of Upbeat Events Pty Inc. collected printing from the printer and paid with a
    cheque of $200.

    Account Dr Cr

    Bank A/c

    6. Upbeat Events Pty Inc. received $500 from a debtor.

    Account Dr Cr
    Bank A/c

    7. Upbeat Events Pty Inc. received and banked a government grant of $500.

    Account Dr Cr
    Bank A/c

    8. Upbeat Events Pty Ltd paid $500 to a creditor.

    Account Dr Cr
    Creditor

    9. Upbeat Events Pty Ltd purchased computer equipment on credit for $1,000.

    Account Dr Cr
    Computer Equipment

    10. Upbeat Events Pty Ltd received interest from the bank of $100.

    Account Dr Cr
    Bank A/c

    10

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