Term 4- Ledger Accounts Cash Flow

Question 1

Accounts Receivable

Answer 1

Balance               DR
Sale                     DR
Sales Returns     CR
Bad Debts           CR
Bank                    CR        (Balance column should be DR)

Question 2

Accounts Payable

Answer 2

Balance CR
Inventory Control CR
Bank DR (Balance Colum CR)

Question 3

Accrued Revenue

Answer 3

Accrued Revenue (2015) DR
Accrued Revenue (2016) CR
Bank CR
Profit and Loss DR

Question 4

Unearned Revenue

Answer 4

Unearned Revenue(2015) CR
Unearned Revenue (2016) DR
Bank CR
Profit and Loss DR

Question 5

Prepaid Expense

Answer 5

Prepaid Expense (2015) DR
Prepaid Expense (2016) CR
Bank DR
Profit and Loss CR

Question 6

Accrued Expense

Answer 6

Accrued Expense (2015) CR
Accrued Expense (2016) DR
Bank DR
Profit and Loss CR