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Chapter 5 - Cash Journals Test
- 5. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 5
14. On March 13th
2015 a firm received an invoice from a creditor for $5,000 plus $500 GST with
credit terms of 5/14, n/30. The firm repaid the invoice on March 27th
2015. The amount due will
be:
a) $5,000
b) $5,500
c) $5,225
d) $5,250
15. On December 21st
2015 a firm received an invoice from a creditor for $6,500 plus GST with
credit terms of 2/14, n/60. The firm repaid the invoice on January 2nd
2016. The amount due will
be:
a) $7,150
b) $7,007
c) $6,370
d) $7,020
16. A firm had the following Cash Receipts Journal:
Cash Receipts Journal
Date Details Receipt
No.
Bank Discount
Expense
Debtors
Control
Cost of
Sales
Sales Sundries GST
Nov 30 Totals 50 750 3000 7800 200 780
The total of the Bank column will be:
a) $9,480
b) $9,530
c) $9,580
d) $9,280
17. A firm had the following Cash Payments Journal:
Cash Payments Journal
Date Details Chq.
No.
Bank Discount
Revenue
Creditors
Control
Stock
Control
Drawings Wages Sundries GST
Jul 31 Totals 250 2250 800 450 700 500 125
The total of the Bank column will be:
a) $4,825
b) $4,575
c) $4,075
d) $4,325