Professional Documents
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5-10 Fa1
5-10 Fa1
NAME
BATCH TEACHER
DATE TEACHER ASST
OBT MARKS TOTAL MARKS
1
FA1 Recording Financial Transactions Test
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FA1 Recording Financial Transactions Test
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FA1 Recording Financial Transactions Test
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FA1 Recording Financial Transactions Test
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FA1 Recording Financial Transactions Test
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FA1 Recording Financial Transactions Test
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FA1 Recording Financial Transactions Test
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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
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
Account Dr Cr
Bank Loan
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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
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
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
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