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Unit 4 Revision Q's

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ben4386:
a) 1 shovel = 15 + 4= $19

b) i dont know how to create journals and ledgers but, the u would have in the purchases journal stock 150, gst 15, total creditors 165

in the CPJ u would have the cross ref as stock control for $40 and $4 gst

c) stock card, 2 diff entries in the in column, 1 saying 10 15 150, and 1 saying
10 4 40, and then in the balance 3 14 42, and 10 19 190

d) Stock ledger

1 Nov Balance 9000                       31 Nov Balance 9190
        Creditors Control 150
         Bank                40

i hope this is right...

costargh:
I don't actually know the answers cause I made it up but yes I would do what u have done exactly the same.

for c) in Cambridge accounting text book it has two separate entries like u have done.
however u shood also be able to do it as one by having in Details "Inv 32/ Chq 101" thus combining the in column.
It isn't done like this in my text book but at Anthony Simmons lecture that i went to, he did an example that i based this question on in that way, by combining the two. Either way, i presume would be correct.

Everything else is exactly the same way i wood do it and i dont think there is much area for dispute in any of these.

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