Elliott Bookkeeping School & Placement Service
Test 2/ Chapters 7 - 10
								DATE:
NAME:								SCORE:
								RE-TAKE:
PART 1 -  Recording Transactions
On May 1st, Virginia Sanchez, a consulting engineer, acquired Purviron, a firm that assists business in
solving pollution and other environmental problems.  The opening entry has been recorded in the "T" accounts
shown below and on the next page.  The letter (a) identifies the debit and credit amounts of the opening entry.
Instructions:
Record the following transactions in the "T" accounts.  Use the letter of each transaction when entering the
debit and credit amounts, as was done with transaction (a).
(b)  Paid $900 for May rent.
(c)  Received $1,000 from Chemtex, a customer, on account for services provided by the previous owner in April.
(d)  Purchased office equipment for $1,500 on credit from Central Office Systems.
(e)  Paid $350 for office supplies.
(f)  Paid $565 to Chemanal Lab, a creditor, on account.
(g)  Received $1,300 for performing an environmental test.
(h)  Paid $167 for the telephone bill.
(i)  Provided consultation services to Spector Mining on credit for $1,800.
(j)  Paid $1,750 in salaries to employees.
(k)  Virginia Sanchez withdrew $600 for her personal use.
	Cash (101)			Supplies (103)			Accts Payable  (201)
	(a) 25,000			(a)      150				3,950  (a)
	Accounts Rec.   (102)			Office Equipment (111)			V Sanchez, Capital (301)
	(a)   5,000			(a)   6,700				32,900  (a)
Elliott Bookkeeping School & Placement Service
Test 2/ Chapters 7 - 10
	V. Sanchez, Draw (302)			Rent Expense (501)			Salries Expense (505)
	Consult. Fees (401)			Phone Exp. (504)
Elliott Bookkeeping School & Placement Service
PART 1 -  Identifying Special Journals
Tremont Office Supply records transactions in the following journals:
CR:  A cash receipts journal with columns for Accounts Receivable, Sales, Sales Tax Payable, Other Accounts,
Sales Discount, and Cash.
CP:  A cash payments journal with columns for Accounts Payable, Merchandise Purchases, Other Accounts,
Purchases Discount, and Cash.
S:    A sales journal with columns for Accounts Receivable, Sales Tax Payable, and Sales.
P:    A purchases journal with columns for Accounts Payable, Merchandise Purchases, and Freight In.
J:    A general journal.
TRANSACTIONS FOR TREMONT OFFICE SUPPLY:
a.  Mark Ortega invested $8,000 in his business.
b.  Issued check #101 for $400 for the cash purchase of merchandise.
c.  Purchased merchandise for $600 on credit.
d.  Received $105 for cash sales; $100 plus $5 sales tax.
e.  Received a $50 refund for the return of damaged merchandise that was purchased for cash.
f.  Sold merchandise on credit for $500 plus $25 sales tax.
g.  Refunded $42 to a customer who returned defective merchandise; $40 plus $2 sales tax.  The goods
were originally sold for cash.
h.  Purchased merchandise for $300 on credit.
i.   Returned damaged merchandise purchased on credit and received a credit memorandum for $100.
j.   Issued check #102 for $490 to a creditor on account; $500 less a $10 discount.
k.  Issued a credit memorandum for $84 to a credit customer for the return of damaged merchandise;
$80 plus $4 sales tax.
l.  Issued check #103 for $400 for office expenses.
Instructions:
For each of the transactions listed above, enter the abbreviation of the journal in which the transaction
would be recorded.
Transaction		Journal	Transaction		Journal	Transaction		Journal
a.			e.			I.
b.			f.			j.
c.			g.			k.
d.			h.			l.