EXAMINATION PAPERS. 8. I buy wine of A. for 50l., and sell it to B. for 55l.; B. pays me in a bill for 251. and cash for 301., and I then pay A. on account. Journal entries A. would make for these transactions, and also those Give the of B. (Rule paper in the proper Journal form to make the above entries on.) 9. On the 1st December I had the following transactions : In hand £ 8. d. 427 2 5 Discounted with Williams and Co. 3 bills, due in 3 months, paying 6 per cent. discount Paid Patrick Costello viz. less 14% -£450 0 0 Rule a Cash-book, and enter in it as many of these facts as you can. 10. Supposing a Journal to be used, give the Journal entries for the following transaction : "Sold to B. 1 pipe Port, 50l., and took his bill at two months for the amount." 11. I buy Sherry of James Smith for 50%., and sell it to B. for 55l., B. pays me in a bill for 25l., and cash for 30l., and I then pay to James Smith B.'s acceptance and cash for the balance, he allowing me 24 per cent. on the whole amount. Give the Journal entries which would be necessary for recording these transactions in my books. 12. Give the Journal entries which James Smith would make for his part of the same transaction, and also those of B. 13. How should the following accounts be closed? 1. Merchandise. 2. Cash. 3. Profit and loss. 4. Petty expenses. 14. Describe the process of balancing. What errors are not checked by it, and how are they guarded against in practice? 15. A set of books is kept by Single Entry, and the books used are, 1. Day Book or Sales Book. 2. Cash Book. 3. Bill Book. 4. Ledger. Show how this set of books could, at the end of a year, be changed to N.B.-The following should not be attempted till all you can do of the preceding has been completed. B. Copy the following transactions into either. 1856. 1. A Sales Book or Day Book, a Cash Book, and an Invoice Book, or 2. (In the case of your not being able to do so) into any books that you consider would do in their stead. In each case you must rule paper for yourself. 40 doz. Chablis, 42s. 4. Bought of W. Blake: 10 doz. Rudesheimer, 59s. 29 10 0 July 20. Accepted draft of J. Edwards & Son, at 2 months 108 0 0 For Supplementary Clerkships in the TREASURY. A. Copy the following transactions into either, 1856. 1. A Sales Book or Day Book, a Cash Book, and an Invoice Book: or, 2. (In the event of your not being able to do so,) into any books that you consider would do in their stead. In each case you must rule paper for yourself. £ S. D. 125 10 0 20. Accepted draft of J. Edwards and Son at 2 months 108 0 0 B. 1. Supposing a Journal to be used, give the Journal entries for the following transaction: "Sold to B. 1 pipe of Port 50l., and took his bill at 2 months for the amount." 2. I buy Sherry of James Smith, 50%., and sell it to B. for 55l.; B. pays me in a bill for 25l. and cash for 50l., and I then pay to James Smith B.'s acceptance and cash for the balance, he allowing me 2 per cent. on the whole amount. Give the Journal entries which would be necessary for recording these transactions in my books. 3. Give the Journal entries which James Smith would make for his part of the same transaction, and also those of B. 4. How should the following accounts be closed? 1. Merchandise. 2. Cash. 3. Profit and loss. 4. Petty expenses. 5. Describe the process of balancing. What errors are not checked by it, and how are they guarded against in practice? 6. A set of books is kept by Single Entry, and the books used are, 1. Day Book or Sales Book. 2. Cash Book. 3. Bill Book. 4. Ledger. Show how this set of Books could, at the end of a year, be changed to Double Entry without making any fresh ones. C. 1. Rule a Journal and enter in it the transactions given in A, and post them from it into a Ledger (also ruled by yourself); or 1. Post the transactions given in A into a Ledger (ruled by yourself), giving the accounts necessary to make it Book-keeping by Double Entry. N.B.-The candidate should do either A. and B. or A. and C. Make the entries necessary to record the following transactions in the proper Books, and then close and balance the Ledger : 2. Bought of Johnson & Co.: cwt. 20 Cases of Edam Cheese, say 16 1 19, Shipped per "Gustav Adolph," L. Gode @ Bahia, on my 60s. a/c and risk, consigned to W. Smith & Co.: 2 Hhds., Pale Ale, 84s. 2 Barrels Porter, 37s. 2 Hhds. 40s., 2 Barr. 26s. 5. Sold Tatlock & Co.: 5 Doz. Champagne, 36s. Jan. 6. Sold Wm. Ĺott: 9. 3 Doz. Champagne, 35s. Shipped per "Great Western," Bevis @ Rio, consigned 20 Cases of Edam Cheese, say 219 5 4 5 9 10 18 19 6 19 4 7 0 5 1 Reca of Thomas Wing, his acceptance at one month 11. North's bill due 13th inst., paid into Glyn's 35 7 150 0 0 275 4 2 797 2 6 |