Basic Bookkeeping(BBK, Business) Questions
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bbk99e1examanswersheets.pdf
Basic Bookkeeping – Level 1 F I N A L E X A M
V4.0 CU07-08-FEB07
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.
Basic Bookkeeping – Level 1
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XY Consumer Products
SALES JOURNAL SJ01
Date Cust. Acc Rec Sales PST GST Pay. General Ledger
2003 Customer No. Dr. Cr. Cr. Cr. Acc. # 1020 4000 2075 2081
Dr. Cr.
TOTAL
Exam
Answ er Sheets
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XY Consumer Products
PURCHASES JOURNAL PJ01
Date
Vendor Acc Pay Purchases GST ITC Travel & Ent.
Office Supplies
General Ledger
2003 Vendor No. Cr. Dr. Dr. Dr. Dr. Acc. # Dr. Cr. 2010 5000 2080 6050 6060
TOTAL
Basic Bookkeeping – Level 1
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XY Consumer Products
CASH DISBURSEMENTS JOURNAL CD01
Date Bank A/P Purchases Purchase Discounts
GST Receiv.
GST Payable
General Ledger
2003 Cr. Dr. Dr. Cr. Dr. Cr.
Vendor Name / Description
Check No.
Vendor No.
1010 2010 5000 5020 2080 2081
Acc. #
Dr. Cr.
TOTAL
Exam
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XY Consumer Products
CASH RECEIPTS JOURNAL CR01
Date Bank A/R Sales PST Payable
GST Receiv.
GST Payable
Sales Discounts
General Ledger
2003 Dr. Cr. Cr. Cr. Dr. Cr. Dr. Dr. Cr.
Customer Name / Description of Receipt
Cust. No.
1010 1020 4000 2075 2080 2081 4020
Acc. #
TOTAL
Basic Bookkeeping – Level 1
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XY Consumer Products
PAYROLL JOURNAL PRJ01 Gross Pay Deductions Net Pay
Salaries and Wages Fed.
Inc. Tax Prov.
Inc. Tax CPP EI Health Care Total
Payroll Clearing
Dr. Cr. Cr. Cr. Cr. Cr. Cr. Date 2003 Employee Name
Ee. # 6010 2060 2063 2055 2050 2068 2085
TOTAL
Exam Answer Sheets Answers Sheets-7
XY Consumer Products PAYROLL LEDGER
Employee: Phil Arnett Address: 26 Baker St. East EmpNo. : A001
Phone: (519) 667-3467 London, ON Cl.Code: 6 Start Date: 01/04/95 N6A 4U6 Period: Weekly SIN: 234 568 458 Pay Ending Deductions
2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay
XY Consumer Products PAYROLL LEDGER
Employee: Ken Rino Address: 16 Little Gray St. EmpNo. : A002
Phone: (519) 672-8893 London, ON Cl.Code: 1 Start Date: 01/04/95 N6C 5R7 Period: Weekly SIN: 638 967 348 Pay Ending Deductions
2003 Folio Gross Pay Fed. IT Prov. IT CPP EI Health Care Net Pay
XY Consumer Products PAYROLL LEDGER
Employee: Jean Trickett Address: 1007 Dundas St. E. EmpNo. : A003
Phone: (519) 433-1378 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 Care Net Pay
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL JOURNAL GJ01
Date General Ledger
2003 Description Acc #
Debit Credit
Mar. 31 Bank Charges & Interest
Mar. 31 Employer’s Payroll Deductions
Mar. 31 Bank Loans
Exam
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XY Consumer Products
GENERAL LEDGER 1010 Bank
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Dr. 14,536.00
Jan. 31 CR01 14,200.66 Dr. 28,736.66
Jan. 31 CD03 28,556.73 Dr. 179.93
Feb. 28 CD01 27,279.49 Cr. 27,099.56
Feb. 28 CR01 13,890.00 Cr. 13,209.56
Feb. 28 GJ01 150.00 Cr. 13,359.56
Feb. 28 GJ01 20,000.00 Dr. 6,640.44
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL LEDGER 1020 Accounts Receivable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Dr. 13,890.00
Jan. 25 GJ01 908.50 Dr. 12,981.50
Jan. 31 SJ01 16,331.92 Dr. 29,313.42
Jan. 31 CR01 9,197.32 Dr. 20,116.10
Feb. 28 SJ01 30,733.75 Dr. 50,849.85
Feb. 28 CR01 13,890.00 Dr. 36,959.85
Exam
Answ er Sheets
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XY Consumer Products
GENERAL LEDGER 2010 Accounts Payable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Cr. 19,961.00
Jan. 23 GJ01 323.55 Cr. 19,637.45
Jan. 31 PJ01 19,829.03 Cr. 39,466.48
Jan. 31 CD03 19,829.03 Cr. 19,637.45
Feb. 28 PJ01 8,560.00 Cr. 28,197.45
Feb. 28 CD01 25,311.00 Cr. 2,886.45
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL LEDGER 2050 Employment Insurance Payable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Cr. 500.00
Jan. 31 GJ02 88.09 Cr. 588.09
Jan. 31 CD03 500.00 Cr. 88.09
Jan. 31 PRJ01 62.92 Cr. 151.01
Feb. 28 CD01 151.01 –
Feb. 28 PRJ01 30.90 Cr. 30.90
Feb. 28 GJ01 43.26 Cr. 74.16
Exam
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XY Consumer Products
GENERAL LEDGER 2055 CPP Payable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Cr. 618.00
Jan. 31 GJ02 128.30 Cr. 746.30
Jan. 31 CD03 618.00 Cr. 128.30
Jan. 31 PRJ01 128.30 Cr. 256.60
Feb. 28 CD01 256.60 –
Feb. 28 PRJ01 62.82 Cr. 62.82
Feb. 28 GJ01 62.82 Cr. 125.64
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL LEDGER 2060 Employees Federal Income Tax Payable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Cr. 3,560.00
Jan. 31 CD03 3,560.00 –
Jan. 31 PRJ01 255.25 Cr. 255.25
Feb. 28 CD01 255.25 –
Feb. 28 PRJ01 122.15 Cr. 122.15
Exam
Answ er Sheets
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XY Consumer Products
GENERAL LEDGER 2063 Employees Provincial Income Tax Payable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Cr. 1,530.00
Jan. 31 CD03 1,530.00 –
Jan. 31 PRJ01 96.60 Cr. 96.60
Feb. 28 CD01 96.60 –
Feb. 28 PRJ01 46.35 Cr. 46.35
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL LEDGER 2068 Employees Health Care Payable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Cr. 144.00
Jan. 31 CD03 144.00 –
Jan. 31 PRJ01 36.00 Cr. 36.00
Feb. 28 CD01 36.00 –
Feb. 28 PRJ01 36.00 Cr. 36.00
Exam
Answ er Sheets
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XY Consumer Products
GENERAL LEDGER 2075 Provincial Sales Tax Payable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 25 GJ01 63.20 Dr. 63.20
Jan. 31 SJ01 1,136.13 Cr. 1,072.93
Jan. 31 CR01 1.60 Cr. 1,074.53
Feb. 28 SJ01 2,138.00 Cr. 3,212.53
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL LEDGER 2080
GST Input Tax Credits Receivable Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 23 GJ01 21.17 Cr. 21.17
Jan. 31 PJ01 1,269.46 Dr. 1,248.29
Jan. 31 CD03 3.22 Dr. 1,251.51
Feb. 28 PJ01 560.00 Dr. 1,811.51
Exam
Answ er Sheets
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XY Consumer Products
GENERAL LEDGER 2081 GST Payable
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 25 GJ01 55.30 Dr. 55.30
Jan. 31 SJ01 994.12 Cr. 938.82
Jan. 31 CR01 1.40 Cr. 940.22
Feb. 28 SJ01 1,870.75 Cr. 2,810.97
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL LEDGER 2085 Payroll Clearing
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Feb. 28 CD01 413.95 Dr. 413.95
Feb. 28 CD01 378.54 Dr. 792.49
Feb. 28 CD01 380.53 Dr. 1,173.02
Feb. 28 PRJ01 1,173.02 –
Exam
Answ er Sheets
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XY Consumer Products
GENERAL LEDGER 2120 Bank Loans
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Jan. 01 Balance forward Cr. 12,000.00
Feb. 28 20,000.00 Cr. 32,000.00
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL LEDGER 4000 Sales
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
XY Consumer Products
GENERAL LEDGER 4020 Sales Discounts
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Exam
Answ er Sheets
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XY Consumer Products
GENERAL LEDGER 5000 Purchases
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
XY Consumer Products
GENERAL LEDGER 6010 Salaries and Wages
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Basic Bookkeeping – Level 1 A
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XY Consumer Products
GENERAL LEDGER 6020 Employer’s Payroll Deductions
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
XY Consumer Products
GENERAL LEDGER 6060 Office Supplies
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Exam
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XY Consumer Products
GENERAL LEDGER 6070 Bank Charges & Interest
Date 2003 Item Folio Debit Credit
Dr. Cr. Balance
Basic Bookkeeping – Level 1 Answer Sheets-26
XY Consumer Products
ACCOUNTS PAYABLE LEDGER
Vendor: Johnston Computer Supplies Address: Vend. #: JCS001
Phone: (519) 674-2355 Terms: n/30 Fax: (519) 674-2356
444 Oxford Road South Delaware, ON N0M 2J0
Date 2003 Item Folio Debit Credit
Dr Cr. Balance
Jan. 01 Balance forward Cr. 11,569.00
Jan. 12 PJ01 2,645.00 Cr. 14,214.00
Jan. 24 CD01 2,645.00 Cr. 11,569.00
Feb. 02 PJ01 3,210.00 Cr. 14,779.00
Feb. 25 CD01 11,569.00 Cr. 3,210.00
Exam Answer Sheets Answer Sheets-27
XY Consumer Products
ACCOUNTS PAYABLE LEDGER
Vendor: Office Products Inc. Address: Vend. #: OPI001
Phone: (519) 426-5533 Terms: 2/10 n/30 Fax: (519) 426-5534
740 Chestnut Street London, ON N6A 5C7
Date 2003 Item Folio Debit Credit
Dr Cr. Balance
Jan. 10 PJ01 6,103.01 Cr. 6,103.01
Jan. 17 PJ01 4,146.13 Cr. 10,249.14
Jan. 24 CD01 6,103.01 Cr. 4,146.13
Jan. 24 CD01 4,146.13 –
Jan. 23 GJ01 323.55 Dr. 323.55
Feb. 02 PJ01 5,350.00 Cr. 5,026.45
Feb. 21 CD01 5,350.00 Dr. 323.55
Basic Bookkeeping – Level 1 Answer Sheets-28
XY Consumer Products
ACCOUNTS RECEIVABLE LEDGER
Customer: Gerald Hemmings Address: 45 Conway Drive Cust. No.: GH0468
Phone: (519) 264-1784 Mount Bridges, ON Terms: 2/10 n/30 Fax: (519) 264-1785 N0L 1S0
Date 2003 Item Folio Debit Credit
Dr Cr. Balance
Jan. 01 Balance forward Dr. 8,322.00
Jan. 12 SJ01 483.00 Dr. 8,805.00
Jan. 24 CR01 483.00 Dr. 8,322.00
Feb. 11 SJ01 28,750.00 Dr. 37,072.00
Feb. 21 CR01 8,322.00 Dr. 28,750.00
Exam Answer Sheets Answer Sheets-29
XY Consumer Products
ACCOUNTS RECEIVABLE LEDGER
Customer: Fred Milsom Address: 321 Laurentian Cres. Cust. No.: FM4568
Phone: (519) 542-4153 Sarnia, ON Terms: 2/10 n/30 Fax: (519) 542-4154 N7S 4W4
Date 2003 Item Folio Debit Credit
Dr Cr. Balance
Jan. 17 SJ01 3,449.99 Dr. 3,449.99
Jan. 28 CR01 3,449.99 –
XY Consumer Products
ACCOUNTS RECEIVABLE LEDGER
Customer: Mark Mower Address: 67 Dundas Street Cust. No.: MM0567
Phone: (519) 433-2356 London, ON Terms: 2/10 n/30 Fax: (519) 433-2357 N6H 3Y8
Date 2003 Item Folio Debit Credit
Dr Cr. Balance
Jan. 13 SJ01 333.49 Dr. 333.49
Jan. 21 CR01 333.49 –
Feb. 14 SJ01 396.75 Dr. 396.75
Basic Bookkeeping – Level 1 Answer Sheets-30
XY Consumer Products
TRIAL BALANCE, MARCH 31, 2003
GENERAL LEDGER Page 1
Account Name G/L Account Number Debit Credit
Bank 1010
Accounts Receivable 1020
Inventory 1030 128,178.00
Prepaid Expenses 1040 3,164.24
Land 1110 245,000.00
Buildings 1115 150,000.00
Accumulated Depreciation-Buildings 1116 50,625.00
Equipment 1117 180,956.00
Accumulated Depreciation-Equipment 1118 42,349.26
Automotive 1130 23,900.00
Accumulated Depreciation-Automotive 1131 12,344.30
Accounts Payable 2010
Accrued Expenses 2020 1,960.00
Employment Insurance Payable 2050
CPP Payable 2055
Employees Federal Income Tax Payable 2060
Employees Provincial Income Tax Payable 2063
Employees Health Care Payable 2068
Balance forward
Exam Answer Sheets Answer Sheets-31
XY Consumer Products
TRIAL BALANCE, MARCH 31, 2003
GENERAL LEDGER Page 2
Account Name G/L Account Number Debit Credit
Balance forward
Provincial Sales Tax Payable 2075
GST Input Tax Credits Receivable 2080
GST Payable 2081
Payroll Clearing 2085 –
Mortgages 2110 165,000.00
Bank Loans 2120
Jeff Smith, Capital 3010 463,017.23
Jeff Smith, Drawings 3020 –
Sales 4000
Sales Returns & Allowances 4010 –
Sales Discounts 4020
Interest Revenue 4100 –
Purchases 5000
Purchase Returns & Allowances 5010 –
Purchase Discounts 5020 –
Salaries and Wages 6010
Employer’s Payroll Deductions 6020
Rent 6030 –
Balance forward
Basic Bookkeeping – Level 1 Answer Sheets-32
XY Consumer Products
TRIAL BALANCE, MARCH 31, 2003
GENERAL LEDGER Page 3
Account Name G/L Account Number Debit Credit
Balance forward
Repairs & Maintenance 6040 –
Utilities 6045 –
Travel & Entertainment 6050 –
Office Supplies 6060
Leases-Equipment 6065 –
Bank Charges & Interest 6070
Professional Fees 6080 –
Depreciation 6090 –
Property Taxes 6100 –
Insurance 6110 –
Fees & Dues 6120 –
TOTAL
