1, Soha purchased stationery for her business using her own money. What is the entry in the business’s books? Account to be Account to be debited credited A Cash Stationery B Equity Stationery @ Stationery Cash D Stationery Equity (1 mark) 2. Where should trade discount given to a customer be shown ? A cash book B_— discount allowed account IC invoice D sales ledger (1 mark) 3. Cash discount is given whem A Payment is made by cash only B Purchases are not made ofredit C Payment ig made within a previously agreed time period D Large quantity of goods are purchased (1 mark) 4. Which of the following is a primary accounting record? A. General ledger B Petty cash book’ C Sales ledger D Trial balatoe (mark) 5. A petty cash book is balanced at the end of each Week. The cash float is £100. Petty cash vouchers for the week total £74.52. How much will be received from the main cashier at the end of the week? A £2548 BB £74.52 Cc £100 D £174.52 (1 mark) 6 Abus sues an invoice for stock with a list price of £30,000. The invoice was subject toa trade discount of 10% and a cash discount of 5%, VAT is charged at 10%. How much es trade discount should be shown on the invoice? A £2565 B £2850 Cc £2700 D £3000 (2 mark) 7. When any entry is made on the both sides of cash book is called as? A. General entry B Double entry C Compound entry D Contra entry (1 mark) Grade 9 (Edexcel) Accounting - Monthly Test November 2021 Prepared for Lyceum International Schools by Lyceum Assessments Scanned with CamScanner8. A company issues check to pay account payable. The effect of the transaction is to ‘A _ increase assets and liabilities. C decrease assets and liabilities. B increase assets and decrease liabilities. D increase assets and stockholder’s equity. 9. Which of the following item is not included in the Cash Book? A. Purchases of $ 10,000 C Received cash for Salman $2,000 D Credit sales of $ 22,000 B Sales of $ 5,000 10. The Cash of a business would change as a result of Aa supplier being paid by check and deposited B raw materials being purchased on credit} C _ non-current assets being purchased of credit, D__ wages being paid in cash. 11, (a) State two reasons for maintaining a)petty-eash book. (1 mark) (1 mark) (1 mark) 2 (2 marks) (b) Jonny maintains a petty cash book with a float of $150; During January 2019 the following petty cash transactions took place. January Voucher Transaction 8 Number Z 101 Purchased postage stamps 11.50 8 102 Paid travel expenses to sales manager 22.50 15 103, Paid John, a trade payable 35.00 2 104 Purchased coffee, tea and sugar 17.75 26 105 Purchased postage stamps 8.50 31 106 Paid cleaner’s 15.00 31 Restored float Tobe calculated Prepare the petty cash book for the month ended 31 January 2019. Balance the petty cash book on that date and bring the balance down on 1 February 2019. Use the given format for your answer. Grade 9 (Edexcel) Accounting - Monthly Test November 2021 (11 marks) Prepared for Lyceum International Schools by Lyceum Assessments Scanned with CamScannerLedger Accounts: $ Travel $ Refresh ments Postage 8 Cleaning s Payments. s Petty Cash Book number Voucher Details Date 2019 Receipts $ Grade 9 (Edexcel) Accounting - Monthly Test November 2021 Prepared for Lyceum International Schools by Lyceum Assessments Scanned with CamScanner(©) Prepare the cleaning account (use the following format) Cleaning account Date Narrative $ Date Narrative $ (2 marks) [Total = 15 marks} 12, The P&G LLC record its casH and bank transaction in a three column cash book. The following transactions were performed by the company during the month of June 2018. Jun 01 : Cash ip hand $800 (debit balance), Cash at bank $3,365 (debit balance). Jun 03 : Paid'Vames & Copby check $1,175, discount received fram him $25. Jun 05% Receiyed from David & Co. a check amounting to $990, discount allowed to him $10. Jun 07; Deposited into bank the check received from Davidh&e Co. Jun 10: Purchased stationary for cash, $170. Jun 15: Purchased merchandise for cash, $1,280. Jun 15: Cash sales for the first half of the month, $2,450. Jun 16: Deposited into bank $1,250. Jun 18: Withdrawn from bank for personal expenses $100 Jun 19: Issued a check amounting to $1,630 to James & Co. and discount received fiom him $20. Jun 21: Drew from bank for office use, $420 Jun 24: Received a check amounting to $1,435 from Henry & Co. and allowed him a discount of $15. The Henry's check was deposited into bank immediately. Jun 25: Paid a check to Jacob Inc. amounting to $385 and received a discount of $15. Jun 27: Bought furniture for cash for office use, $380. Jun 29: Paid office rent by check, $350. Jun 30: Cash sales for the second half of the month $4,550. Jun 30: Paid salaries by check $760. Jun 30; Withdrew from bank for office use $470, Grade 9 (Edexcel) Accounting - Monthly Test November 2021 Prepared for Lyceum International Schools by Lyceum Assessments Scanned with CamScannerRequired: (a) Record the above transactions in a three column cash book of P & G LLC and balance the cash and bank columns of the cash book. (Use the following for your answer) (21 marks) (b) Prepare discount allowed and discount received account (Use the following for your answer) (4 marks) [Total = 25 marks} Grade 9 (Edexcel) Accounting - Monthly Test November 2021 Prepared for Lyceum International Schools by Lyceum Assessments Scanned with CamScannerCash Book Date Cash Bank | Date Description | Dis. Cash Bank Grade 9 (Edexcel) Accounting - Monthly Test November 2021 Prepared for Lyceum International Schools by Lyceum Assessments Scanned with CamScannerDiscount allowed account Date Narrative $ Date Narrative $ Discount received account Date ‘Narrative $ Date Narrative $ [Total for the paper = 50} Ref: AP Grade 9 (Edexcel) Accounting - Monthly Test November 2021 Prepared for Lyceum International Schools by Lyceum Assessments Scanned with CamScanner