Answer Key

Year 11 Accounting – Overnight Homework Assignment

Question 1 – Analysis Chart

71 – 81 correct entries (4mks)

55- 70 correct entries (3mks)

21-54 correct entries (2mks)

1-20 correct entries (1mk)

Date Accounts Affected Account Type Inc/ Dec DR/CR Amount (VT)
(- or +)
03/01/19 Wages E + DR 256,550
Bank A - CR

05/01/19 Sales R + CR 50,880

Bank A + DR 50,880

07/01/19 Purchases E + DR 123,560

ESAH (Accounts Payable) L + CR 111,204
Discounts Received R

10/01/19 Drawings -P + DR 5,000

Bank A - CR 5,000

12/01/19 Purchases Returns -E + CR 12,000

ESAH (A/P) L - DR 12,000

15/01/19 Shelves A + DR 15,400

MOK Store (A/P) L + CR 15,400

1
Answer Key

16/01/19 Delivery Van A + DR 1,000,000

Carpenter Motors (A/P) L + CR 550,000
Bank A - CR 450,000

18/01/19 Electricity E + DR 4,200

Bank A - CR 4,200

25/01/19 Sales Returns -R + DR 23,500

Bank A - CR 23,500

Question 2

a)

Bank 700,000vt Carpenter Motors 500,000

Purchases 50,000vt Purchases Returns 1,700
Drawings 2,150 Esah 20,000
Sales Returns 0 Discount Received 20,500
Delivery Van 0
1 1
752,150vt ( mk) 542,200vt ( mk)
2 2

Capital (752,150 – 542,200)

= 209,950vt (1mk)

2
Answer Key

b)

Date Bank + Purchase + Drawings+ Sales Delivery Van = Carpenter Purchases Esah + Disc. Capital
Return + Motors + Returns + Received +

01/01/19 700,000 50,000 2,150 0 0 = 500,000+ 1,700 + 20,000 + 20,500 + 209,950

07/01/19 +123,560 = +111,204 +12,356

10/01/19 -5000 +5000 =

12/01/19 = +12,000 -12,000

16/01/19 -450,000 +1,000,000 = +550,000

25/01/19 -23,500 +23,500 =

3
Answer Key

31/01/19 221,500 + 173,560 + 7,150 + 23,500 + 1,000,000 = 1,050,000+ 13,700 + 119,204 + 32,856 + 209,950

1,425,710vt = 1,425,710vt