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6 marksClassification of Accounts and Ledger Posting

CSEC Principles of Accounts · May/June 2013 · Paper 2 · Question 6(b)(ii)

Transactions on 2 January 2013: advertising, office expenses, issuing shares, and receiving registration fees.

Prepare the Bank Account of Sautec Credit Union to record the receipts and payments on 2 January 2013, including the opening bank balance as at 1 January 2013.

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Other parts of this question

  1. 6(a)(i)List the items which are considered fixed assets of Sautec Credit Union.[2 marks]
  2. 6(a)(ii)List the items which are considered current liabilities of Sautec Credit Union.[2 marks]
  3. 6(a)(iii)Draft the Balance Sheet extract to show the Capital section of the Balance Sheet for Sautec Credit Union as at 1 January 2013.[3 marks]
  4. 6(b)(i)Prepare the journal entries to record the sale of shares and the receipt of registration fees.[7 marks]

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