2
1 Katie is a trader. She maintains a full set of accounting records. Her financial year ends on 30 April.
Katie’s transactions for the year ended 30 April 2016 included the following.
2015 $
May 12 Paid cash for stationery 95
June 16 Received commission by cheque 1680
July 9 Paid A1 Stationers, by cheque, the balance due on 1 May
Sept 10 Received commission by cheque 1710
Nov 30 Purchased stationery on credit from A1 Stationers 217
Dec 6 Returned damaged stationery to A1 Stationers 53
On 30 April 2016
Inventory of stationery 196
Commission receivable outstanding 1590
REQUIRED
(a) Enter the transactions in the following accounts in the ledger of Katie for the year ended
30 April 2016.
Make the transfers to the income statement. Balance the accounts and bring down the
balances on 1 May 2016.
Katie
Stationery account
Date Details $ Date Details $
2015
May 1 Balance b/d 182 ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
© UCLES 2016 0452/21/M/J/16
3
A1 Stationers account
Date Details $ Date Details $
2015
........... ............................... ........... May 1 Balance b/d 114
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
Commission receivable account
Date Details $ Date Details $
2015
May 1 Balance b/d 1680 ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
........... ............................... ........... ........... ............................... ...........
[14]
(b) Name the ledger in which the commission receivable account would appear.
...............................................................................................................................................[1]
(c) Name the section of the statement of financial position on 30 April 2016 in which the balance
on the commission receivable account would appear. Give a reason for your answer.
Section of statement of financial position ..................................................................................
Reason ......................................................................................................................................
...................................................................................................................................................
...............................................................................................................................................[2]
[Total: 17]
© UCLES 2016 0452/21/M/J/16 [Turn over
